Leaked IMF documents show global opposition to lender’s bank bailout
In documents released by the Wall Street Journal, these countries and others argued that IMF loans would actually bail out private European banks, leaving Greece in debt and an even worse economic situation. This is exactly what has happened; Greece’s economy is now in its sixth year of recession, the government’s foreign debt has increased to 180 per cent of GDP and one-in-ten of the population now live in extreme poverty.
As recently as June 2013, IMF Managing Director Christine Lagarde claimed:
“In May 2010, we knew that Greece needed a bailout, but not that it would require debt restructuring … We had no clue that the overall economic situation was going to deteriorate as quickly as it did.”
The leaked documents show this is not true; many member countries were warning that debt cancellation was necessary and without it Greece’s economy would crash. Most strikingly, drawing on their own experience of failed bailouts in the late 1990s and early 2000s, Argentina argued in an IMF Board meeting in May 2010 that a “debt restructuring should have been on the table”. Brazil said the IMF loans:
“may be seen not as a rescue of Greece, which will have to undergo a wrenching adjustment, but as a bailout of Greece’s private debt holders, mainly European financial institutions”.
= new reply since forum marked as read
(and some pension funds). It had very little to do with bailing out Greece. But the Greek DID get a Memorandum of Understanding attached for all that generous helping 
in which collective labor agreements were retroactively canceled and disallowed for the future, for example.
But that info wasn't exactly widely disseminated (though well-known on the Guardian Business Blog).
You can bet however that the Greeks DO know it. There is a reason why Syriza (collection of radical leftwing without the KKE communists) polls first or close second, and why the two traditional parties now have 40% together whereas before they had 40 % a piece.
That whole "country bailout" process (administered by Goldman-Sachs' Papademos, no less) is illegal as hell, and a clearcut case of Disaster Capitalism.
Given the incredible state of affairs in Greece, with continuous unrest, strikes, the nat'l broadcaster shut down, teachers not allowed to strike, taxes being attached to electricity bills, hospitals closing, infectious disease that was gone having made a comeback - this is not over.
Note: the exact same is true of Spain, which was a much better "pupil" in Europe on top. Which is why I always say the revolution will start in Spain - if it hasn't already.
