Bloomberg news agency claims Greece needs a debt relief, justifying the IMF’s indirect threat of leaving the negotiations, if the action is not adopted. Bloomberg notes in its main article, cosigned by its editorial team, that Greece has to have a debt haircut. ‘Lagarde said the IMF could not support the plan put forward by the Europeans, a plan that includes obligations that Greece cannot fulfill. The indirect threat of departure is justified’, outlines the op ed. The article is particularly scornful describing the negotiations between Greece and its creditors, stressing that both sides are aware that the deal under consideration will not work and it provides an analogy to an old soviet joke: ‘We are pretending to be working and pretending to be getting paid’. In this context, the agency argues, Greece is consenting to a series of new tax measures, including extra ordinary automatic mechanism that would be activated once fiscal targets are derailed  and the Eurozone is pretending that ‘all is well’.