IMF Prepared To Bail Out Greece As Trichet Warns Of Debt Unsustainability (In Europe AND US)

Submitted by Tyler Durden

Not good for Europe: all the posturing about how Greece will never, ever be bailed out was just destroyed courtesy of a few words out of place by the IMF. IMF Managing Director John Lipsky just noted that the International Monetary Fund is ready to help Greece "in any way necessary." The quote comes from a Bloomberg TV interview conducted earlier. Perhaps that is why Greek CDS just hit another all time wide at 410 (+35). And joining the foot in the mouth crew is ECB president Trichet who said that "Debt on both sides of the Atlantic are unsustainable." So should we now assume that even Central Bankers admit we are headed for a brick wall at 120 mph?

NOTE: Not sure why this wouldn't be "good" for Europe, other than the fact that the IMF is NOT the friend of any nation it "helps." If Greece defaults, it could destroy the European Union, and the Euro as a currency. -Vigilius