IMF and Greece: superfluous bad cop

Should the euro zone hire Supernanny? Calls for the International Monetary Fund to step in and take care of the Greek crisis are multiplying, as many investors don’t seem to believe the EU is up to the task of disciplining one of its own members. Some of the arguments in favour of a traditional IMF rescue mission are strong. But the counter-arguments are stronger. Advocates of the Fund’s intervention point out that the IMF is used to dealing with this sort of problem. It doesn’t mind playing th...