IMF Declares War On Germany: In “Secret” Report Lagarde Says Greece Will Need Massive Debt Relief
by Tyler Durden
ZeroHedge.com
07/14/2015
“The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date – and what has been proposed by the ESM. European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept ‘deep upfront haircuts’.”
Or, more simply: “Mark it zero.”
The Rest…HERE
