The IMF’s false confession | Ashoka Mody at Bruegel.org

 

Deutsch: Dr. Angela Merkel Bundeskanzlerin der...

Deutsch: Dr. Angela Merkel Bundeskanzlerin der Bundesrepublik Deutschland Vorsitzende der CDU Deutschlands (Photo credit: Wikipedia)

This is a MUST READ article by Bruegel, the think-tank. Check it out!

via The IMF’s false confession | Ashoka Mody at Bruegel.org.

Personally, I tend to agree with the main thrust of the article.

I have always felt that Christine Lagrande, the IMF Managing Director was playing politics, rather  than stressing the independence of the IMF’s economic arguments. For example, for me Christing Lagrande is far too close to Angela Merkel, the German Chancellor. Actually, Merkel brought the IMF into give economic backbone to the policies of the European Commission and the ECB, now known as the troika. Also the IMF played to German political interests in supporting the draconian Cyprus solution.

For me, the bias at the IMF is a far greater threat than forcasting errors.

Let me turn this to an open question:

 Why has the IMF not apologized to Cyprus for the damage done to the Cypriot economy by the troika?

Any thoughts?

Germany’s Bundesbank Repatriating Gold from the New York Federal Reserve | Global Research

This is a MUST READ article concerning Germany‘s latest apparent distrust of both the US ,the UK and France. Check it out!

Germany’s Bundesbank Repatriating Gold from the New York Federal Reserve | Global Research.

Formerly, the leader of greater European integration, recent challenges of German selfishness following the Euro crisis has apparently prompted greater German isolationism. Matters are not helped by Angela Merkel being herself isolated, following a skiing accident. There are already worries about what the ECB will do next and fears for the forthcoming decisions of the German Constitutional Court. Of course, 2012 saw Germany cuddling up to China, looking for favored treatment of German industry; Germany is China’s biggest trading partner in Europe.

With the German economy at risk because of excessive dependence upon exports, I wonder when will we see a push-back against Germany from both her traditional allies and financial speculators?

Any thoughts?

German Chancellor Angela Merkel at the White H...

German Chancellor Angela Merkel at the White House, Thursday, Jan. 4, 2007. (Photo credit: Wikipedia)

 

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