IMF to the Greek People; Austerity or No Bailout

The IMF had a simple warning for the Greek people today telling them tough austerity measures must be implemented in exchange for a bailout and they can expect to see more of the same in coming weeks. John Lipsky, acting managing director for the IMF, made the announcement after a decision by the euro zone finance ministers to NOT hand over 12 million in euros in aid until Athens pushes reforms through parliament. Greece has been given two weeks to comply. Many Greeks have clearly seen enough austerity measures but the European Commissioner for Economic and Monetary Affairs, said all struggling euro zone countries had to hold steady. Greeks are growing increasingly angry about the austerity measures their government has put in place in return for a 110 billion dollar bailout it received a year ago from the IMF and European Union counties. Greece's parliament will vote on the new package of reforms designed to increase government revenue on June 28. Austerity measures have also brought controversy in Spain, Portugal, and Britain.