IMF Bailout

Can someone please explain to me how the IMF, which is essentially a Monetary Fund supported by 187 countries (Most significantly) the US and the EU can bail out the EU? The EU is going to give money to the IMF only to loan it back at a steep cost to the EU? This is ridiculous on its face. I feel like I live in a world full of idiots…

1. soulsqueezed liked this
2. marrinerkeynes posted this