It makes me laugh when people talk about the IMF and EU 'bailing out' Greece.

Imagine a woman whose car has broken down in the middle of a terrible storm. She's walking down the road, thunder, lightning, rain lashing her and wind howling. A car pulls up next to her and the driver offers her a lift - but on the dashboard there's a roll of duct tape, a coil of rope, and a handkerchief soaked in chloroform.

Hellas must default. It didn't destroy Argentina and it won't destroy them. Perpetual debt slavery to the Troika will.

I tell you, to my shame, the husband of my niece works at the IMF. He is an incompetent moron who needed 6 years to complete a doctorate in a state university in the US. In any institution in Europe he would have been expelled from University. Then, there is no examination or competition such as in Europe to enter the administration. It is harder to get a job as a administrative assistant at the public administration in Spain than to get a job as an economist at the IMF. I know what I am saying. In order to enter the Spanish administration you need to compete with other 1000 candidates for a single post and swot up a 1.5 meter high pile of text books by heart and pass IQ tests.
At the IMF you dont do anything of the sort. Just hand in your cv and an interview.
At a dinner he once told me "if you knew how much they pay me" !
This gives you an idea of the kind of individuals in there.