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IPFS News Link • World News

Eurocrats' Immovable Rigor Over Debt Restructuring


A delegation of leading European and international monetary officials are planning a crisis summit in Athens in May amid growing fears that Greece may default on its sovereign debt. European officials are determined to avoid the need for Greece to change the terms of its debt repayments. – UK Telegraph

Dominant Social Theme: Those who lead Europe are determined not to let this crisis get the best of them. The Greeks must suffer so the banks shall not.

Free-Market Analysis: It would be funny if it weren't actually happening. Senior officials, reports the Telegraph, from both the IMF and the European Central Bank plan a two-day "lightning visit" to Greece in early May. The purpose of the visit is to ensure that Greece will further pound on the necks of its citizens by meeting "goals" to pare the government deficit by US$50 billion.