Clash of the Ignobles: The IMF, the European Commission and Greek Debt

The International Monetary Fund has been at odds with other partners in the Greek bailout saga.  Its economists have wondered whether strangling a state with the noose of austerity is a decent way of either eliminating debt, let alone stimulating growth.  Not that the body has gone entirely anti-austerity.

The European Commission, and the European Central Bank, have enjoyed taking the high road on trimming the Greek state while seeking debt repayments.  Their obsession with credit, and their reduction of states and their citizens to bank balances, has betrayed a mania for debt hood over sovereignty.  The point was amply illustrated by the financial occupation engineered in…

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