This is a good article from the Telegraph. Check it out!
IMF tells Greece it will lose control of budget in return for bail-out – Telegraph.
Given Greece’s proud and ancient history, plus wider contribution to mankind and civilization, this is a further sad milestone in the crumbling of Greek democracy. Greece already has an unelected technocrat leading its Government, who was planted as a safe pair of hands by the troyka (IMF, ECB & EU) plus Berlin’s masters.
For the moment, Greek citizens still believe that staying in the Euro and the EU is the lesser of two evils. Austerity in Greece has been extremely painful but critics believe that it has been too focused on tax increases and not enough on cutting the size of the bloated Public Sector.
Difficult as this situation is for Greece, it is important to remember that it was largely caused by the ineffectiveness of the Greek political classes and the grossly inefficient Greek Public Sector.