IMF signals it could walk away from Greek bailout deal –

IMF Headquarters, Washington, DC.

IMF Headquarters, Washington, DC. (Photo credit: Wikipedia)

This is a must-read – it’s the FT‘s most popular article at the moment. Check it out!

via IMF signals it could walk away from Greek bailout deal –

It looks like the IMF is ready to push back on being Germany‘s poodle. The biggest contributor to the IMF is, of course, the US, so I wonder if Germany is about to get some of her own hard-medicine?


Opinion – Personal Grexits: Should I stay or should I go now? | The Economist – John Gelmini

Greece has automobile engineers and no car industry and others who are trained or educated to do things which the Greek economy has no place for.

If the Greek economy cannot provide a future for these people then commonsense says they must go. Dr Alf worries about the future of Greece as a country but what matters more is the future of people.

My own parents had to decide whether to remain in a war ravaged and impoverished Italy after World War 2 and millions of others all over the planet face similar problems and took the pragmatic decision to go.

My late grandfather used to say to my father in the years following World War 2 “Things will pick up”, when they didn’t, my late father made a small lightweight wooden suitcase, attached to his bicycle and sought work elsewhere until finally ending up in Duxford, England in 1948.

Several decades later I emulated him on a grander less fraught scale and went to live and work in America, when I could see that mismanaged Socialist Governments in the UK were not creating beneficial conditions that satisfied my aspirations.

People owe their allegiance to their maker and then themselves and then to a country provided of course that country looks after them and creates the conditions for prosperity and future growth. Countries that consistently fail to make progress in that direction cannot expect people to sit on their hands forever or for very long.

Greece and its politicians have abrogated their responsibilities in that direction, have failed to articulate a vision or give any semblance of hope, so the young with an education and skills are those best able – sadly, for many they must vote with their feet. Meanwhile, matters are made acutely worse by Greece being an arrival point for North African refugees.

What ever happened to European policy being for the benefit of all?

John Gelmini