G-20 Boosts IMF Firewall, Pressures Germany
At the summit meeting of G-20 leaders in Los Cabos, Mexico, the focus was on strengthening the firewall of the IMF and pushing Germany to relent on pooled debt and increasing deficit spending.
IMF: Greece Will Need Third Bailout in Debt Writedowns
Last week Greece was granted a massive bailout for the second time, after winning hard-fought concessions from its private debt holders and pushing through additional unpopular austerity measures. This week the IMF said it expected Greece to need additional funding or more debt restructuring—in effect, a third bailout.