IMF put the cat among the pigeons
Livesquawk with a report that the IMF says that Greece's debt burden is too high for them to consider a third bailout
The news comes from Peter Spiegel in the FT
There was a two hour IMF board meeting on Wednesday in which the the board was told that Greece's debt levels and poor reform record disqualify the IMF from a third bailout
Even so, it seems that the IMF may still take part in the bailout negotiations but may not decide to agree any new program, perhaps into 2016
The spanner in the works comes from the IMF only deciding at a "stage two" part of the negotiations if Greece has agreed more reforms and Eurozone lenders have agreed on debt relief
Many in the EZ have said that a haircut for Greece is off the table
The news is just what sellers were looking for to kick EURUSD down through 1.0920 to a 1.0911 low
