From the link provided above
Brainard praised "very significant commitments in recent days" made by Greece and its lenders and said that, if met, they will reduce Greek debt loads to levels that officials expect will avert default.
"When you put these things together, they suggest that the path forward for Greece, if it is able to deliver on the commitments, will be a sustainable path," Brainard said. Greece agreed to punishing spending cuts to secure a second bailout, which has led to mass protests but wards off a default that could have come as early as next month.
Brainard cited several signs of progress.
"Europe has made important strides over past days and weeks. New leaders in Italy and Spain are implementing ambitious reforms," she said. "The ECB's actions have helped to ease funding pressures...(and) European banks that were frozen out of the market have been able to borrow again."
Thus spake: Treasury's under secretary for international affairs, Lael Brainard.
Now, she was probably an Ivy league [Harvard Business School probably] first class Major in Economics and/or politics [whatever] and with some sort of higher degree to boot but I really do think that she should get a grip
or stop reading the WSJ.
Because, just for spouting those miserable sentences - makes me worry in and puts me in a very vexatious state. That we know, Britain is being run by clueless eejit boys and jejune girlies but if the US Treasury is overrun with a similar claque to their British counterparts - then - we truly are in deep do-do
PLUS: small wonder then, that Lagarde is able to 'walk all over them'.