Lagarde Says No To IMF Aid For Greece | Zero Hedge: "
According to the summary, IMF staff concluded Greece no longer clears two of the four requirements in the IMF’s "exceptional access criteria" – the Fund framework that allows it to grant bailouts of larger-than-normal size.
Under the criteria, a bailout recipient must be able to prove it has the “institutional and political capacity” to implement economic reforms, and that “there is a high probability that the member’s public debt is sustainable in the medium term”."
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