Loading tweets...“So given these three options are unlikely, there is really only one other way to restore competitiveness and growth on the periphery: leave the euro, go back to national currencies and achieve a massive nominal and real depreciation. After all, in all those emerging market financial crises that restored growth a move to flexible exchange rates was necessary and unavoidable on top of official liquidity, austerity and reform and, in some cases, debt restructuring and reduction….”
Monthly Archive: June 2011
Permanent link to this article: http://www.eamonnblaney.com/wordpress/blog/2011/06/18/the-imf-itself-should-be-on-trial/
Permanent link to this article: http://www.eamonnblaney.com/wordpress/blog/2011/06/14/the-eurozone-heads-for-break-up/
Jun 18
The IMF itself should be on trial
June 18, 2011
This timely article, prompted by the arrest of DSK in New York recently, give the most superb insight to what our new masters have in store for us if Mr.Kenny/Gilmore & noonan continue with the self delusional idea that we are capable of repaying the ECB. This article will give you great insight what will happen when, eventually and after we are totally broke, we refuse to play ball with the IMF.
So the fact that Dominique Strauss-Kahn, the former head of the International Monetary Fund (IMF), is facing trial for allegedly raping a maid in a New York hotel room is – rightly – big news. But imagine a prominent figure was charged not with raping a maid, but starving her to death, along with her children, her parents, and thousands of other people.
That is what the IMF has done to innocent people in the recent past. That is what it will do again, unless we transform it beyond all recognition. But that is left in the silence.
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