Likely IMF Chief Lagarde Makes Comments On Greece That Are The Definition Of Insane

Christine Lagarde

Some fresh comments from French finance minister Christine Laarde are hitting Bloomberg (they’re from an interview with Austrian newspaper Der Standard) pertaining the situation in Greece.

What’s she saying? Let’s put it this way, if you buy that the definition of insanity is doing the same thing over and over again, and expecting a new result, then this is it.

She’s adamantly against a restructuring or anything else that’s not totally voluntary by banks.

Instead, she wants Greece to move faster on reforms in exchange for any more aid.

Of course, moving faster on reforms, just means moving faster to the bottom, since the austerity measures taken so far have only made the situation worse on the debt/deficit front.

Of course, all this makes her a fine candidate for the IMF position — where she’s tipped as the likely favourite — since this has been their philosophy forever, with horrible results.

Meanwhile, Europe is going busto today. Here’s a full found up >