[raverbashing]

The IMF is a creditor just like any other, -> and assumes risks when it makes loans <-

Exactly this

All that Greece and the institutions that lent money to them did was to push the problem forward and make it worse

Greece has basically two options: deflate their prices in Euro (what austerity ends up doing) or have a currency that can float. It's that simple

(Or having a stronger fiscal union in the Eurozone, but that's hard as well)

[caf]

Note that "prices" here is an expansive sense of the word that includes wages.

[raverbashing]

Correct.

Because prices embed wage costs and ability of people to pay.