Poul Thomsen, Greece and the cynicism of the IMF
by DANIEL MUNEVAR
For the casual reader, Poul Thomsen’s recent piece |1| on the role of the IMF in the bailout review negotiations currently taking place between Greece and the Troika would seem balanced and reasonable. At the end of the day, as he has argued elsewhere, |2| the numbers simply need to add up. For that there is a tradeoff between the “ambition of the reforms” Greece needs to impose and the amount of debt relief that can be granted by its European partners. In blunt terms, more austerity implies less debt relief and vice versa. Thomsen argues that given the contentious character of the negotiations the IMF is simply there as a friendly companion that supports both its Greek and European partners to help them make the tough decisions required to develop a program that adds up. However, for someone who is more familiar with the role that the IMF in general, and Thomsen in particular, has played in placing Greece in the precarious situation that it finds itself today, his piece can only be defined as brazen and cynical.