Wikileaks Reveals IMF Plan To Cause A Credit Event In Greece And Destabilize Europe


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One of the recurring concerns involving Europe's seemingly perpetual economic, financial and social crises, is that these have been largely predetermined, "scripted" and deliberate acts.

This is something the former head of the Bank of England admitted one month ago when Mervyn King said that Europe's economic depression "is the result of "deliberate" policy choices made by EU elites.  It is also what AIG Banque strategist Bernard Connolly said back in 2008 when laying out "What Europe Wants"

 
 

To use global issues as excuses to extend its power:

  • environmental issues: increase control over member countries; advance idea of global governance
  • terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
  • global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
  • EMU: create a crisis to force introduction of “European economic government”

This morning we got another confirmation of how supernational organizations "plan" European crises in advance to further their goals, when Wikileaks published the transcript of a teleconference that took place on March 19, 2016 between the top two IMF officials in charge of managing the Greek debt crisis - Poul Thomsen, the head of the IMF's European Department, and Delia Velkouleskou, the IMF Mission Chief for Greece.

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In the transcript, the IMF staffers are caught on tape planning to tell Germany the organization would abandon the troika if the IMF and the commission fail to reach an agreement on Greek debt relief. 

More to the point, the IMF officials say that a threat of an imminent financial catastrophe as the Guardian puts it, is needed to force other players into accepting its measures such as cutting Greek pensions and working conditions, or as Bloomberg puts it, "considering a plan to cause a credit event in Greece and destabilize Europe."

According to the leaked conversation, the IMF - which has been pushing for a debt haircut for Greece ever since last August's 3rd Greek bailout - believes a credit event as only thing that could trigger a Greek deal; the "event" is hinted as taking place some time around the June 23 Brexit referendum.

As noted by Bloomberg, the leak shows officials linking Greek issue with U.K. referendum risking general political destabilization in Europe.

The leaked transcript reveals how the IMF plans to use Greece as a pawn in its ongoing negotiation with Germany's chancelleor in order to achieve the desired Greek debt reduction which Germany has been pointedly against: in the leak we learn about the intention of IMF to threaten German Chancellor Angela Merkel to force her to accept the IMF's demands at a critical point.

Transcript via the original article

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Below is Paul Mason's summary of what is shaping up as the next political scandal.

 
 

The International Monetary Fund has been caught, red handed, plotting to stage a “credit event” that forces Greece to the edge of bankruptcy, using the pretext of the Brexit referendum.

 

No, this is not the plot of the next Bond movie. It is the transcript of a teleconference between the IMF’s chief negotiator, Poul Thomsen and Delia Velculescu, head of the IMF mission to Greece. 

 
 


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Let me decode. An “event” is a financial crisis bringing Greece close to default. Just like last year, when the banks closed, millions of people faced economic and psychological catastrophe.

 

Only this time, the IMF wants to inflict that catastrophe on a nation holding tens of thousands of refugees and tasked with one of the most complex and legally dubious international border policing missions in modern history.

 

The Greek government is furious: “we are not going to let the IMF play with fire,” a source told me.

 

But the issue is out of Greek hands. In the end, as Thomsen hints in the transcript, only the European Commission and above all the German government can decide to honour the terms of the deal it did to bail Greece out last July.

 

The transcript, though received with fury and incredulity in Greece, will drop like a bombshell into the Commission and the ECB. It is they who are holding E300bn+ of Greek debt. It is the whole of Europe, in other words, that the IMF is conspiring to hit with the shock doctrine.

ss

 

Source: https://wikileaks.org/imf-internal-20160319/ Via: http://www.zerohedge.com/news/2016-04-02/wikileaks-reveals-imf-plan-cause-credit-event-greece-and-destabilize-europe

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Greece Demands Explanation From IMF Over Leaked Transcript

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Greek politicians wasted no time in seeking a response from the IMF over the leaked transcript released earlier today by Wikileaks suggesting the IMF may threaten to pull out of the country's bailout as a tactic to force European lenders to more offer debt relief, and which according to the Greek government was "interpreted as revealing an IMF effort to blackmail Athens with a possible credit event to force it to give in on pension cuts which it has rejected."

According to Reuters, "Greece demanded an explanation from the International Monetary Fund on Saturday after an apparent leaked transcript suggested the IMF may threaten to pull out of the country's bailout as a tactic to force European lenders to more offer debt relief."

 
 

The officials were quoted as discussing a threat that the fund might not participate in Greece's third bailout program as a way to force EU creditors, especially Germany, to reach a deal on debt relief before Britain's June referendum on whether to stay in the European Union.

 

"The Greek Government asks the IMF for explanations whether pursuing the creation of bankruptcy conditions in Greece, just before the British referendum, is the Fund's official position," government spokeswoman Olga Gerovasili told state TV.

 

An IMF spokesman in Washington said the Fund did not comment on "leaks or supposed reports of internal discussions" but added that the IMF had made its position known in public.

 

"We have stated clearly what we think is needed for a durable solution to the economic challenges facing Greece - one that puts Greece on a path of sustainable growth supported by a credible set of reforms matched by debt relief from its European partners," the spokesman said.

 

"The needed reforms and targets need to be based on credible assumptions. As we have said, there is a trade off between what is feasible on reforms and the amount of debt relief needed."

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However as previously noted, "the Greek government interpreted the leak as revealing an IMF effort to blackmail Athens with a possible credit event to force it to give in on pension cuts which it has rejected."

As of now it appears unlikely that the IMF will provide further information on what was explicitly stated in the leak, or what may have been implied regarding a potential plan to force Greece into another credit event.

 

Source: http://www.reuters.com/article/us-eurozone-greece-idUSKCN0WZ0J6 Via: http://www.zerohedge.com/news/2016-04-02/greece-demands-explanation-imf-over-leaked-transcript

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So much for good governance, democracy, and transparency.

 

The West never misses an opportunity to amaze the World about how things should be properly done. If only they fixed their own problems just as fast as they're used to pointing their fingers at other countries' shortcomings. Thanks for setting yet another good example, guys!

 

It's now obvious, even to a third-grader, that the IMF profits from instability and has an agenda of suppressing development. This organization has absolutely no interest in seeing countries' economies flourish and prosper. No one would need their loans in such a scenario and they wouldn't be able to go into a country and dictate their demands.

 

Which currency does the IMF give loans in? USD, hence, the IMF is a tool of the FED. In light of the falling dollar hegemony, these guys are trying to do all they can in order to hold on to their power just a little bit longer and increase the demand for the USD by any means possible. To them, Greece is expendable. Who's next? Spain? Italy? Portugal?

 

Incidentally, Wikipedia's page on good governance features the following interesting bit:

 

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The International Monetary Fund (IMF) declared in 1996 that "promoting good governance in all its aspects, including by ensuring the rule of law, improving the efficiency and accountability of the public sector, and tackling corruption, as essential elements of a framework within which economies can prosper." The IMF feels that corruption within economies is caused by the ineffective governance of the economy, either too much regulation or too little regulation. To receive loans from the IMF, countries must have certain good governance policies, as determined by the IMF, in place.

So much hypocrisy, it makes me wanna puke. 

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  • 4 weeks later...

I'm not an economist.  How the ###### is destabilizing all of Europe's economy going to be good for ANYONE???  

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On April 26, 2016 at 0:37 PM, The Rev said:

I'm not an economist.  How the ###### is destabilizing all of Europe's economy going to be good for ANYONE???  

Loans, loans, and more loans. 

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34 minutes ago, ctebah said:

Loans, loans, and more loans. 

Also you open the country up for its infrastructure and such to be purchased for pennies on the dollar.

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