International Financial Institutions

[An official-sector restructuring] would encourage a re-engagement of the IMF in Greece. In fact, the IMF is bound to fund 'sustainable policies' in any borrowing country and the current outlook in Greece -- with GDP in freefall and the debt-to-GDP ratio skyrocketing -- looks anything but sustainable.

What we've already seen in Greece, where the IMF's share dropped from 30% to 16%, will become the modus operandi for the next wave of programs. The IMF wants to mitigate the threat of excessive exposure to Europe.