... any speculation that IMF staff would consider using a credit event as a negotiating tactic is simply nonsense
... if it were necessary to lower the fiscal targets to have a realistic chance of them being fully met, there would be an attendant need for more debt relief.
... this weekend’s incident has made me concerned as to whether we can indeed achieve progress in a climate of extreme sensitivity to statements of either side
... I have decided to allow our team to return to Athens to continue the discussions.
... it is critical that your authorities ensure an environment that respects the privacy of their internal discussions and take all necessary steps to guarantee their personal safety.
... the IMF conducts its negotiations in good faith, not by way of threats, and we do not communicate through leaks
dc CB 00:42 GMT April 2, 2016
PS one more for you and a biggie.
the direct result of the Obama Admin EPA/Clean Energy Mandates.
The Other Shoe drops on YOU, Mr and Mrs Taxpayer
A worsening financial crisis for the nation’s biggest coal companies is sparking concerns that U.S. taxpayers could be stuck with hundreds of millions, if not billions, of dollars in cleanup costs across a landscape of shuttered mines stretching from Appalachia to the northern Plains.
Worries about huge liabilities associated with hundreds of polluted mine sites have mounted as Peabody Energy, the world’s largest publicly traded coal company, was forced to appeal to creditors for an extra 30 days to pay its debts. Two of the four other biggest U.S. coal companies have declared bankruptcy in the past six months.
Under a 1977 federal law, coal companies are required to clean up mining sites when they’re shut down. But the industry’s plummeting fortunes have raised questions about whether companies can fulfill their obligations to rehabilitate vast strip mines in Western states — many of which are on federally owned property — as well as mountaintop-removal mining sites in the East.
The biggest coal companies typically pay third parties to ensure that mine sites are cleaned up in the event of financial hardship. But in recent years, many coal companies have relied on a cheaper technique called “self-bonding,” pledging only their own names and financial wherewithal to guarantee their cleanup obligations.
With mounting losses and debt loads, the companies do not have enough money to pay for all their obligations, and self-bonding is “not worth [the] paper [it’s] written on,” Steve Jakubowski, a bankruptcy lawyer with the firm Robbins, Salomon & Patt, said in an email. In a bankruptcy, where Alpha Natural Resources is now, a judge can decide which creditors are paid and how much — and state and federal governments could be left holding the bag for reclamation costs.
Greece called on the International Monetary Fund on Saturday to explain whether it was seeking to usher Athens toward bankruptcy ahead of a pivotal referendum in June on Britain’s membership in Europe. Greece’s comments came after I.M.F. officials raised questions in a private discussion published by WikiLeaks about what it would take to get Greece’s creditors to agree to debt relief.
“I am surprised that it has not happened, is that, because of the refugee situation, they take a decision, that they want to come to a conclusion,” Mr. Thomsen said of the creditors, according to the transcript.
If a conclusion does not come rapidly, he added, the I.M.F. would use the threat of quitting against the German chancellor, Angela Merkel, who cannot afford for Greece to spiral downward at a time when it is keeping the bulk of new refugees from reaching her country.
“You face a question,” Mr. Thomsen suggests the fund could tell Ms. Merkel. “You have to think about what is more costly: to go ahead without the I.M.F.,” he said, “or to pick the debt relief that we think that Greece needs in order to keep us on board.”
AIG Banque strategist Bernard Connolly said back in 2008 when laying out "What Europe Wants"
To use global issues as excuses to extend its power:
***environmental issues: increase control over member countries; advance idea of global governance
***terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
***global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
***EMU: create a crisis to force introduction of “European economic government”
This morning we got another confirmation of how supernational organizations "plan" European crises in advance to further their goals, when Wikileaks published the transcript of a teleconference that took place on March 19, 2016 between the top two IMF officials in charge of managing the Greek debt crisis - Poul Thomsen, the head of the IMF's European Department, and Delia Velkouleskou, the IMF Mission Chief for Greece.
the IMF officials say that a threat of an imminent financial catastrophe as the Guardian puts it, is needed to force other players into accepting its measures such as cutting Greek pensions and working conditions, or as Bloomberg puts it, "considering a plan to cause a credit event in Greece and destabilize Europe."
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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