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IMF new leak on Greece proves it is dogmatically unrepentant

globinfo freexchange

A new leak by the IMF concerning the Greek debt issue supports that Greece is close to technically default on a payment to the IMF in early June.

From Channel 4 News:

Channel 4 News understands Greek negotiators made clear last week that the €1.56bn owed to the IMF in June, beginning with a payment on 5 June, cannot be paid without a deal.

The IMF memo confirms that there has been “some recent progress” in negotiations between Greece and its lenders: on VAT reform, tax collection and regulations that would make it easier for Greek companies to go bust and be restructured.

But the tight timetable, and growing tension between the IMF and the Europeans, mean next week’s Euro summit in Riga looks like the last chance to do a deal before Greece technically defaults on a payment to the IMF in early June.

[...]

The IMF names the outstanding issues as: pension reform, deregulating the labour market, and the re-hiring of 4,000 former civil servants as the issues preventing a deal. The document acknowledges progress on labour reform “in the past”, signalling that the rehiring and pensions issues are what stand between Greece and a deal this week.

But the document reveals critical differences between the EU, ECB and IMF that could lead to a collapse of the negotiations. Basically, the EU is looking for a deal that papers over the cracks and takes the Greek banking system off life support, while the memo confirms the IMF’s own rules do not allow what it calls a “quick and dirty” outcome.

But the “progress” has triggered a major row behind the scenes between the EU and the IMF.

This is another proof that the IMF insists dogmatically on the neoliberal catastrophic policies although they have failed in the past.

The supposed "disagreement' between EU, ECB and IMF aims to persuade public that these institutions are not aligned behind specific interests.

The leak enhances the scenario of Default without Grexit which has been described in the related article.

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