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July 12, 2012 at 18:57 PM EDT
Lagarde: Too Soon for Extension of Greek Bailout Terms
In high-stakes deals on the Street, the side with the leverage usually demands "show me the money first, then we'll talk." But in the rarefied and much higher-stakes world of desperate sovereign borrowers and multilateral lenders of last resort like the International Monetary Fund, it's the other way around -- "show me the goods first, then you get the money." In the case of Greece, Christine Lagarde says "implementation must happen, more than lip-service."
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