I have a question.

Why does a set up as IMF is needed in the first place?

To help struggling countries and developing countries with loans. Correct?

Why?

Why would or should a well runned country that cares for its citizens and its growth and its future at some point need such loans?

it seeems to me that such country where 1+1=2 and have policies in place where what they budget to spend, they earn via taxes etc, should be OK.

On the other hand, countries like Greece, portugal, ireland, Spain, Italy and others alike where their problems are deep and old, they are bound sooner or later to need a bail out and large amounts of money to keep them afloat which means that:

Current loans: 300B plus interest
New loan 300B plus interest in order to pay the above first loan

Therefore, the country still owns 300B plus higher interest and the economy in a mess, where they will go back to the market to borrow more later in order to bridge their budgets as their economy is negative and their income as a government is less and the pay outs in unemployment insurance and pension is growing by the day.

Therefore they will need more loans again until they are bankrupt.

If this is a solution by the great economists of the world then we should all go home now.

The world and its people need a balanced life which is in a secure enviorement and with a safety net when they grow old and dont work any more and they should also take care of themselves in order to need less health care later on.

What good is it if you smoke for 40 years and then at 85 you decide to stop smoking? What can be done for such person at this late stage?

Except of India and China, the rest of the world is over weight. think about it.