Tag Archives: IMF

IMF admits disastrous love affair with the euro and apologises for the immolation of Greece

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The IMF’s chief Christine Lagarde is presiding over an organisation that is almost out of control

The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory.

This is the lacerating verdict of the IMF’s top watchdog on the fund’s tangled political role in the eurozone debt crisis, the most damaging episode in the history of the Bretton Woods institutions.

For the complete article please click on the link below:

http://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/

Globalization’s True Believers Are Having Second Thoughts

From Time Magazine, Business-Economics.
June 3, 2016

The IMF seems to have disavowed—or at least questioned—key parts of neoliberal economics

Early this month, the International Monetary Fund seemed to proclaim that neoliberalism, an economic philosophy that advocates allowing capital to flow where it will (and usually where labor is cheapest), may have been “oversold.” This was rather like hearing the Pope say that catechism may have been “oversold.”

To read the entire article go to:

http://time.com/4356816/neoliberalism-imf-globalization/