– Shape Of Greek Endgame Emerges: IMF Discussed “Cyprus-Like” Plan After Tsipras Warned Of Looming Default (ZeroHedge, May 18, 2015):
The IMF discussed a “Cyrpus-like” take it or leave it solution for Greece last week, FT reports. With the countdown to outright insolvency down to two weeks, PM Tsipras will meet EU leaders in Latvia on Thursday to make one last push for a last minute deal. Meanwhile, the fate of the Greek banking sector hangs in the balance as the ECB has come under fire for the monetary financing of the Greek government.
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The IMF isn’t the only game in town for Greece. Russia is offering them funds in exchange for the use of their ports……….Greece has the 3rd biggest port in the Euro Zone…..and it would be an economic boost for Russia to export to the Euro, and a job opportunity for Greek citizens…….Sounds like a win-win.
What does the IMF offer? More austerity, more debt, more demands that cannot be met.
I am awaiting to see what Russia does. Until then, I withhold any judgement.