by Nick Skrekas
Wall Street Journal
November 19, 2010
Behind the scenes the Greeks appear again to be going cap in hand to international lenders, but this time it is not for any extra cash to the already bulging €110 billion bailout.
They are hoping the International Monetary Fund, the European Commission and the European Central Bank - locally nicknamed the ‘troika’ - will indulge them with an extension of the repayment terms of the piles of cash that they are periodically sinking into the debt-laden Mediterranean country.
Strangely it was the purportedly “hard line neo-cons” of the IMF who first openly admitted that the idea was being mulled and gave it more credence as a future course of action.
The Fund ran the numbers carefully before floating the notion, without consideration of parochial politics or pandering to populism.
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