The plunder commences: Risk of IMF calling on NZ$1.3 bln loan from NZ govt to help with Euro crisis rising, as rumours swirl of Italian bailout too big for the IMF’s coffers

Here is where John Key and his banking mates are commencing to plunder out coffers. More on this and John Key’s connection with the true owners of Fletcher building on Monday. I’m going to have a well deserved weekend off because I feel a tad drained after the election educational efforts!

The risk of the International Monetary Fund (IMF) calling on New Zealand for a loan up to NZ$1.3 billion has increased in recent months as the European sovereign debt crisis intensifies and rumours swirl about the IMF intervening in the Euro situation with financial support for Italy.

Finance Minister Bill English earlier this week acknowledged there might be a role for the IMF in helping reinforce European efforts to stem the crisis, which, if no solution is forthcoming, could lead to a downturn worse than the 2008/09 crash triggered by the subprime crisis and collapse of US investment bank Lehman Brothers.

The IMF refuted a Reuters article earlier this week which said the Fund was in talks with Italy concerning financial support for what is Europe’s third largest economy. The IMF said talks were only focussed on fiscal monitoring.

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