The International Monetary Fund as a trustworthy buoy of Greece.

First of all, let us try to understand the interests of the International Monetary Fund during the rescue process.

To begin with, we need examine actions in Greece direction that were turned to it by the International Monetary Fund, which is the first-rate structure amounting to United Nations Organization (U.N.O.) all over the world. The International Monetary Fund was set up in the United States of America (USA) in the middle of summer in 1944 with the object of giving credit to indigent and insolvent card-carrying members, having some difficulties with the balance of payments.(IMF, 2013) This is the greatest advantage, which characterizes it as a national life-saver.

According to the world-famous financier George Soros, who thinks that it is a right decision to help country in a hard situation. (Telegraph, 2011) I partly agree with this assertion, but on the other hand, every country chooses it is own way and follow it in the future. From the personal point of view of problems, it may be assumed that any person must survive on its own, but we review the World economic situation, which call for active support from the direction of all members. In situation connected with Greece all responsibility was laying on government shoulders, because of administrative dereliction population of Greece collided with financial problems.

Now I would like to discuss more critically about tools using as regards Greece. As a matter of fact, accordance of tranche at the rate of about 110 billion euro was the first major step, which gave an opportunity to gradually restore its shaky position in the world. The issue of tranches implies payment of credits, dividing into some parts. (Buenos Aires Herald, 2011)

As we know, tranche must have saved the situation, but it did not make noticeable effects. With all this going on, the evident question has occurred to us: What did they expect from tranche allocation? Certainly, all organizations knew that it is impossible to restore the economy giving out only one tranche. Greece must be met a condition to reduce immediately the budgetary funds in a recent future with the result that euro was falling dramatically during the crisis period.

According to the Greek Prime Minister George Papandreou, government of Greece is planning to reduce wages in the state sector; thereby they supposed reducing in budgeted deficit. (Chu and Carassava, 2011)The other side of the coin is, however, that is useless action, because it is too late to make an attempt to improve shaky position. The Government of Greece did not watch from the sidelines and decided to make some move to avoid crisis situation on a level with International Monetary Fund and the European Union.

The next tool, which was suggested by International Monetary Fund was conversion of Greece debt, assuming the accordance of temporary measure on preferential terms. Nevertheless, one should accept that this opportunity of aid is a fairly relevant at the present, which enjoys wide popularity in the crisis situation. In my opinion, it supposed the mitigation of debt advantageous to victim. Concerning Greece it was provided for every eventuality and as a result International Monetary Fund decided to afford an opportunity of partial debt writing off. From my point of view

In the comparison of the recent situation in Cyprus, for the great majority of people the situation is becoming heated and they called immediately for help. And strangely enough, IMF and the EU appeared in the field of vision right now. Doubtless, this step was great services of these international organizations. It is very clear from these observations that their strategy focusing on application of different tools for prevention the national calamity is trustworthy and is expressing full approval of me. (Cyprysnewsreport, 2011)