Okay, now this is really ridiculous. Not white socks and black shoes ridiculous, but full on beyond the looking glass ridiculous. Part of the bailout mechanism for the EU is supposed to come from the IMF, which as you know is supposed to get its funding from its member states. So in the latest agreement to increase funding for the IMF by 150 billion Euros you see why the devil is always in the details, especially when it comes to complex international agreements (it was supposed to be 200 billion but then the UK finally woke up). According to this document, over 25% of the 150 billion is supposed to come from Italy and Spain, the main recipients of this aid in the first place. So IMF funding is going to be used to provide IMF funding? I feel a rift in the space-time continuum is approaching.
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