The IMFâ??s latest report on Greece lays bares the countryâ??s grotesque situation, and exposes the charade of EMU policy.
It states that public debt will reach 176pc of GDP this year, despite the haircut already imposed on pension funds, insurers and sovereign wealth funds (Norway for instance) who loyally stood behind Greece after categorical assurances by EMU leaders that Europe would never let an EMU sovereign state default.
Read Full Article »