David Fry's  Instablog

At the end of last week we had a G20 statement which was long on words but short on action. The IMF followed on Saturday with another statement in the same manner. IMF head Christine Legarde held a news conference which was frankly useless but typical as these things go. Her most significant answer came from a question posed by a Greek reporter: "What will the IMF do with these demands should there be great social unrest in Greece?" Her response: "Implementation, Implementation, Implementation." (This statement meant previous agreements must be taken seriously.)