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IMF: DSK Severance $250k !! Portugal gets $26 billion to shit on workers !!

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leftstreet Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-20-11 08:14 PM
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IMF: DSK Severance $250k !! Portugal gets $26 billion to shit on workers !!
No, the two stories aren't related. Just news of the day from the IMF

IMF says Strauss-Kahn to get $250,000 in severance

20 May 2011 (Reuters) - Former IMF Managing Director Dominique Strauss-Kahn will receive a one-off severance payment of $250,000, but receive far less in future years from pension and related payments, the global lender said on Friday.

Strauss-Kahn, who is facing charges of sexual assault and attempted rape in New York, resigned from the International Monetary Fund on Wednesday. He has denied the charges and his lawyer said he would plead innocent.

IMF approves 26 billion euro loan for Portugal

20 May 2011 (Reuters) - The International Monetary Fund on Friday approved a 26 billion euro ($37 billion) loan for Portugal to help the country recover from a debilitating sovereign debt crisis, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the euro zone member's debts.

The IMF said in a statement that total financing to Portugal in 2011 will include about 12.6 billion euros from the IMF and another 25.2 billion euros from the European Union. The funding is part of a joint IMF/EU 78 billion euro ($110 billion) bailout package.

"The financing package is designed to allow Portugal some breathing space from borrowing in the markets while it demonstrates implementation of the policy steps needed to get the economy back on track," the IMF said in a statement.

Under the agreement, Lisbon will have to carry out steep spending cuts, raise taxes, reform its labor and justice systems, and embark on an ambitious privatization scheme.
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