A senior Member of the House Financial Services Committee has introduced legislation to bar the U.S. from supporting efforts by the International Monetary Fund to renegotiate Greek debt or take similar actions for other highly-indebted countries.  Constraints would also be put on U.S. support for other IMF liquidity activities based on the view that the Fund has become a “fig leaf of first resort” that leads to moral hazard across the international financial system.

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