IMF's Director Batista spills the beans: Greek bailout was 'to save German and French banks'

Keep Talking Greece
Wed, 04 Mar 2015 02:42 UTC

© keeptalkinggreece

Bailout, Executive Director, Greece, IMF, interview, Paulo Nogueira Batista.

This was never said officially before! "They gave money to save German and French banks, not Greece," Paolo Batista, one of the Executive Directors of International Monetary Fund told Greek private Alpha TV on Tuesday. Batista strongly criticized not only the euro zone and the European Central Bank but also the IMF and the Fund's managing Director Christine Lagarde for defending Europe much too much..

He urged Greece to directly negotiate with the IMF and favored the restructuring of the Greek debt that is being held by the European partners.

Video: English with Greek subtitles:

Comment: Straight out of the horse's mouth:

"The Greek issues were not the best handled by The IMF... They put too much of a burden on Greece and not enough of a burden on Greece's creditors"