Thursday, May 31, 2012

lagarde to greeks: it's payback time!

Guardian | The International Monetary Fund has ratcheted up the pressure on crisis-hit Greece after its managing director, Christine Lagarde, said she has more sympathy for children deprived of decent schooling in sub-Saharan Africa than for many of those facing poverty in Athens.

In an uncompromising interview with the Guardian, Lagarde insists it is payback time for Greece and makes it clear that the IMF has no intention of softening the terms of the country's austerity package.

Using some of the bluntest language of the two-and-a-half-year debt crisis, she says Greek parents have to take responsibility if their children are being affected by spending cuts. "Parents have to pay their tax," she says.

Greece, which has seen its economy shrink by a fifth since the recession began, has been told to cut wages, pensions and public spending in return for financial help from the IMF, the European Union and the European Central Bank.

Asked whether she is able to block out of her mind the mothers unable to get access to midwives or patients unable to obtain life-saving drugs, Lagarde replies: "I think more of the little kids from a school in a little village in Niger who get teaching two hours a day, sharing one chair for three of them, and who are very keen to get an education. I have them in my mind all the time. Because I think they need even more help than the people in Athens."

Lagarde, predicting that the debt crisis has yet to run its course, adds: "Do you know what? As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax." She says she thinks "equally" about Greeks deprived of public services and Greek citizens not paying their tax.

"I think they should also help themselves collectively." Asked how, she replies: "By all paying their tax."

Asked if she is essentially saying to the Greeks and others in Europe that they have had a nice time and it is now payback time, she responds: "That's right."


Messianicdruid said...

She should quit her job and move to Africa.

Messianicdruid said...

Dale Asberry said...

We should always keep in mind that the purpose of austerity is to deprive the citizens of the nation so as to continue paying bond holders -- in particular American, French, Belgian and German bond holders.

Nasospakos said...


Messianicdruid said...

CNu said...

lol, I got out in the fields of tall cotton for one morning and miss out on all the fun.

Is this why Strauss-Kahn had to go, was he too restrained at the helm of the IMF? 

Lagarde bad as she wanna be telling the Greeks (and by extension PIGS) that they're the new Africans as far as she's concerned!,