Monday, 16 May 2011

Wrong IMF official under investigation

Antonio Borges, the head of the IMF's European department thinks that the value of assets that Greece may be able to sell off could be as high as Euro 250 billion. We would risk a bet that this 'expert view' is at least twice the amount that might ever be reached in a fire-sale of Greek State assets. Given that our financial fate is in the hands of such experts one can only be pessimistic about the outlook for the financial system - and the Eurozone in particular.

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