IMF To Meet Sunday To Approve $40B Greek Loan

IMF To Meet Sunday To Approve $40B Greek Loan

(AP) WASHINGTON (AP) - The International Monetary Fund plans to meet Sunday to approve a $40 billion loan to Greece as part of a rescue package to save the country from looming bankruptcy.

The bailout includes a $105 billion loan from the 15 other European Union members who use the euro as their currency.

An IMF spokesman said Tuesday its decision-making board would convene on Sunday to act on Greece's request for a loan.

So what does this mean for the Global Economy? Bail-outs seem to have quite an impact. Some have argued for the better, some argue for the worse. Although, from the little that I have read on this issue, I think Greece needs this to stay afloat.

Originally posted by UberL33t
So what does this mean for the Global Economy?

It's a bandaid that does nothing to fix the real problem. The whole thing is gonna crash anyway but they've got time for this one last dance.

Bail-outs seem to have quite an impact.

Ok this money is coming from people who don't have any and have their own banking problems. And they're lending money to a country that has a bad credit rating and is ready to default and go to the pawn shop so to speak.

They can't even pay back their existing debts and they're just lending them another 140 billion. You tell me how effective quantitative ponzinomics is. These bailouts are a joke.


[edit on 4-5-2010 by belial259]

IMF

it's time to get this collapse underway.

the weight is unsustainable
on 2 crutches,
let it fall

let it ALL FALL
and get it over with

u r helping nothing by
perpetuating the agony

be done with it

Originally posted by belial259

Originally posted by UberL33t
So what does this mean for the Global Economy?

It's a bandaid that does nothing to fix the real problem. The whole thing is gonna crash anyway but they've got time for this one last dance.

Bail-outs seem to have quite an impact.

Ok this money is coming from people who don't have any and have their own banking problems. And they're lending money to a country that has a bad credit rating and is ready to default and go to the pawn shop so to speak.

They can't even pay back their existing debts and they're just lending them another 140 billion. You tell me how effective quantitative ponzinomics is. These bailouts are a joke.


[edit on 4-5-2010 by belial259]

Spot on, if they can't pay back the money right now on those bonds due how in gods name will they have the money to pay back WITH INTEREST the 140 billion from the EU and IMF. They won't and Germany knows it.