Dawn over Marblehead

According to this, the IMF has decided that a third bailout for Greece would be a waste of money.   Jeez, took 'em long enough to see the light.  The noise from Europe is when the IMF backs out, so does every one else.  All the Greek  bailout will do is finance the Greeks in paying off some of their fantastic international debt.  It would be cheaper just to stop bailing Greece, let the Greeks default on their loans, and learn to run a balanced budget.  All that debt was run up by Greeks spending more than they take in with taxes.  Time to stop subsidizing them, Greece can learn to cut spending and hike taxes just like a real country.  And the banking idiots who loaned the money deserve to take a good solid loss.  Maybe that will learn 'em.