March 10, 2012, just hours after Moody’s declared Greece in full default the U.S. based International Monetary Fund offers Greece another multi-billion Euro loan.

Moody’s declared Greece in full default after Greece agreed to a new sovereign debt (government bonds) swap deal, which will see 53% of Greece’s debt erased.  Many holders of Greek bonds will be forced to take losses.

Now Christine Lagarde, Managing Director of the IMF, is offering Greece a U.S. $36.7 billion loan.  That’s on top of the other loans Greece is still waiting for.

So credit ratings companies are saying Greece is not in a position to pay back more debt, yet the U.S. led world finance institutions are offering Greece more debt?  By the way, the  IMF had to borrow that money from BRICS!   In 2011, for the first time in the IMF’s history they were broke, and went ‘cap in hand’ to BRICS (Brazil, Russia, India, China and South Africa) to beg for money, so they could in turn lend it to Western countries.