Der Spiegel Sees Greek Eurozone Exit by September
July 23, 2012 • 12:31PM

According to Germany's Der Spiegel magazine, the IMF will tell EU officials, it no longer wishes to financially support Greece and when the IMF finally decides to stop fundng Greece could go bankrupt by September. At the same time, the EU, and in particular Germany, are freezing all further bailout money for Greece, until after—if at all—the Troika which will arrive in Athens tonight, has completed its report on "how Greece is doing, with the reform process."

This happens as it is becoming clear that the government cannot reduce its debt to 120 percent of GDP by 2020, as had already been agreed. The claim by IMF officials that a Greek exit from the euro is considered "manageable", is shared by EU officials, and has repeatedly been made also by German politicians. The strategy pursued, apparently is to create a fait accompli for the Greeks, provoking them into declaring their exit from the euro.