DSK tells Greece:  “Cut It Off!”    

“Cut It Off!

BY KYLE ANDREW BROWN

PARIS, July 7  – Quietly circulating on the internet are Dominique Strauss-Kahn suggestions about the Greek financial crises. The former Managing Director of the International Monetary Fund recommends international lenders accept a temporary halt to the country’s debt payments.

The proposals from Strauss-Kahn are contained in a three page document: “On Learning from One’s Mistakes.”   Posted on his twitter feed on Saturday.

 Journo Gregory Pappas went through the document and his best picks can be read here at Pappas Post. 

The former IMF rain maker gets it – what no Troika or Brussels’ big shot will acknowledge – that: “Providing more assistance to simply repay existing official creditors is simply inane.”

So what Strauss-Kahn would have us do is to cut Greece off cold turkey from the European ATM machine.

Here’s what you do:

“Having no access to markets and receiving no new financing from the EU or the IMF it will have to balance its budget alone.” This way Greece will  “need to make tough fiscal choices but they would make them on their own”.

“To achieve this, the government would have to start collecting taxes and confronting the oligarchy, the vested interests and the underground economy that are sapping its formidable potential.”

Strauss-Kahn left left the IMF a while back. Christine Lagarde runs the place now.

2015-07-07