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August 2, 2015 | IMF Pulls Out of Bailout Loans for Greece

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Lagarde-Christine-imf

The Board of the International Monetary Fund (IMF) decided on Wednesday not participate in the next credit-round for Greece. The Board denied any new loans to Athens, because the country’s debt was too high and the Greek reforms requested by the Troika are not likely. It is entirely possible that we will see Greece in crisis with the turning point on the ECM Sept 30th/October 1st.

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August 2nd, 2015

Posted In: Armstrong Economics

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