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Initially the €Z and EU were the major players when Greek problems started in 2010.  DSK offered quite meaningful assistance in terms of liquidity from what he now called BRICS whom he had previously helped progress in the global economy. DSK had also indicated that a larger BRIC role in IMF should be put in place such that European directorship should not be automatic within 10 years. DSK even promised to renegotiate the World Bank = USA; IMF = Europe convention as best he could and to ensure that there would be at least 1 BRIC deputy director ASAP and the First Deputy director would be a BRICie within 5 years along with non-Europeanization of senior posts like Chief Economist and Head of Research and Statistics as quickly as possible. DSK made quick progress as China’s ZhiMin was appointed one of the 3 deputy directors and the stage set for the appointment of a second from Japan, I think, but forget – something like Saratonago. Needless to say BRIC investment was really useful as although all the money is promissory notes to the IMF, BRIC money is the result of growing economies not governmental borrowing at more and more punitive rates. DSK was a private and I believe seriously mentally ill, disaster but probably the best IMF director in 2 decades.  So DSK had ensured IMF power through new BRIC money and in return increased BRIC power and influence.  Then lots of things happened together. Sokrazy realized his UMP candidacy for 2012 presidency was endangered by his FinMin – Laggard. The size of the French exposure to Greece, around 80bn was seen. Clever semantics on the reporting request and use of French banks outside France allowed a much less €40-50bn to be reported, but it was clear that Greek default could not be allowed or France would fail. DSK had to go. May 2011. An opportunity to get rid of an election threat and relieve pressure on EU institutions and on the basis of exhibited Greek ‘attitude’ shown already, ‘une carte blanche’ to drive a country to an economic wasteland and political slavery exactly what the € was devised for, whilst defending France and perhaps persuading Germany to pay for the economically protectionist, anti-democratic, utterly globally non-competitive paradigm again.  Sarkozy sowed the seed and got what he wanted even to the point of getting agreement that an €Z director was the logical European choice. Next: Laggard insults and threatens RSA’s brilliant Trevor Manuel out of directorship contest, then gets Mexico’s Carsten disbarred through NAFTA links and David Lipton the first deputy because he’s American. Laggard installed June 2011. Olivier Blanchard becomes chief economist as well as his existing job of Head of Research and Statistics which gives him both dataflow and data interpretation control throughout the IMF – no need for anybody else. Laggard now able to impose her troika dominance over a blackened EU duo. She picks AH Thomsen, already versed in Ireland, to lead in Greece. She promises to furnish lots of BRIC money – much more than the ECB and EU and thus gets voting control of the Greek troika. She fails to get most of the BRIC money for Greece and has managed to divide a global rescue actor called the IMF into BRICS and mates like OZ versus the rest with a USA in the inert middle. She must go.  In summary all three troikista have failed the Greeks and others. The ECB and EU started it: the Laggard IMF has finished it in truly feudal robber baron fashion.