I noted last week that "the IMF regards the EFSF as a busted flush, and has no intention of throwing any more money into the doomed project".
Unsurprisingly, the G20 have now stated categorically in their end of summit communique that no money will be forthcoming until the Eurozone puts more of its own money in, and that it is "essential" that the Eurozone boosts its own firewall first.
Meanwhile, as if deliberately trying to further humiliate and antagonise the Greeks, the German Finance Ministry has announced that more than 160 German tax collectors have volunteered for possible assignments in Greece.
Anyone would think that the Germans were deliberately trying to sabotage the bailout, and force the Greeks to walk away from it!
Given that German Finance Minister Wolfgang Schaeuble doesn't believe that the bailout will succeed, it is in Germany's interests that time and money are not wasted on it.
