Christine Lagarde has warned that Greece can expect little sympathy from the International Monetary Fund on its bail-out terms, and called for its citizens to "help themselves" out of the financial crisis by "paying their tax".
Strong messages from the head or the IMF, the head of Deutsche Bank, and the president of the Bundesbank are highly likely to drive Greek voters away from New Democracy and Pasok in the June 17 elections.
The Guardian writes It's payback time: don't expect sympathy – Lagarde to Greeks.
The preponderance of recent Greek polls show a tight election. However, the latest Public Issue Survey stands out, and I happen to think that is the most accurate one.
Please consider Going into final stretch, SYRIZA builds poll lead
In the last opinion poll to be published by Kathimerini before the June 17 elections, leftist SYRIZA maintains a clear lead over New Democracy, although short of enough support for a clear parliamentary majority.
Greece is politically and economically bankrupt. Unemployment is 25% and destined to get much worse with the latest round of austerity measures.
Worse yet, Greece is still encumbered by massive layers of bureaucracy that makes it difficult to get anything done.
Yesterday, in a massive breach of security, Greek citizens stormed the defense ministry. This has German chancellor Angela Merkel willing to take a chance on a trip to Greece next week.
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter Eurozone countries are falling like dominos. But bailouts—funded by taxpayers in other countries—keep banks from collapsing, governments from defaulting, and investors from incurring well-deserved losses. Bailout money that no one has. And so it's borrowed. Borrowing is pain free, and easier than collecting taxes. Until it’s impossible. Hence a debt crisis.
Greece's Socialist party leader Evangelos Venizelos accused IMF chief Christine Lagarde of trying to "humiliate" the crisis-hit country by saying Greeks dodge taxes as he campaigned Sunday for crucial June elections."Nobody can humiliate the Greek people during the crisis, and I say this today addressing specifically Ms. Lagarde... who with her stance insulted the Greek people," Venizelos told an election rally.