As German Finance Minister Wolfgang Schaeuble dares Greece to quit the euro, investors and economists are mapping out what he and fellow policy makers need to do to save the single currency if his bluff is called.
Dares? What's Christine think of this?
IRELAND, Greece and Portugal have no choice to meet their obligations under bailout agreements reached with the EU/IMF/ECB troika, the head of the International Monetary Fund warned today.
"I keep repeating myself: it's implementation, implementation, implementation,” IMF chief executive Christine Lagarde warned programme countries today.
“There are no alternative options in those countries," Ms Lagarde said after a meeting in Turkey.
Oh yes there are options Christine.
One of them is this:
And I strongly urge all those nations to do exactly that and shove it down your throat -- or into any other orifice they deem appropriate.
The IMF and Christine Lagarde have exactly zero standing to dictate anything. Every "programme" the IMF runs is subject to the consent and tolerance of both government and ultimately the citizens of the nation involved.
As sovereign nations they have not only the right but the responsibility to erect the middle finger in your direction should they, in their sole judgment, deem it wise.
It's wise.
