Anyone seeking the true cause of the disaffection of Western electorates with the Western political elite need look no further than the case of the IMF’s Director, Christine Lagarde.
The IMF chief is apparently too big to jail.
International Monetary Fund chief Christine Lagarde, right, arrives at the special Paris court, France. (AP/Thibault Camus)
Christine Lagarde, head of the International Monetary Fund (IMF), on Monday was found guilty of “negligence” for approving a massive government payout to business tycoon Bernard Tapie during her tenure as French finance minister.
21st Century Wire says…
A review of all the Top Stories from this week – for your consideration.
Durant les élections de janvier, Syriza avait conquis le pouvoir en promettant entre autres choses, l’allègement de la dette d’au moins 50 %. Durant les élections de septembre, selon Tsipras [NDLR : premier ministre grec], une restructuration de la dette grecque dans des proportions historiques était imminente. Cette restructuration était supposée être assurée grâce aux négociations agressives que le gouvernement grec avait menées.
Christine Lagarde, the Queen of Troika and the Head Honcho of the IMF, on May 6th, threatened to pull the IMF out of the Greek rescue plan, with a straight face, calling it a “rescue plan.” Oh, please!
Yet, it is extremely doubtful the IMF would ever entirely pull out since the plan really bails out its own constituency of banks at an unfathomable expense to the Greek people.
Meantime in Greece, transportation and civic services throughout the country grind to a screeching halt, full stop, as the people hit the streets.
The International Monetary Fund has been at odds with other partners in the Greek bailout saga. Its economists have wondered whether strangling a state with the noose of austerity is a decent way of either eliminating debt, let alone stimulating growth. Not that the body has gone entirely anti-austerity.
Lagarde hinted that the crisis could spread more broadly across the financial system, suggesting that emerging market and energy sector companies defaulting on their payments could “infect” banks and state treasuries.
The post IMF head warns of slow growth and economic “shocks” in 2016 appeared first on BSNEWS.
The IMF is the leading international monetary agency whose public purpose is to maintain the stability of the global financial system through loans linked to proposals designed to enhance economic recovery and growth.
In fact, the IMF has been under the control of the US and Western European states and its policies have been designed to further the expansion, domination and profits of their leading multi-national corporations and financial institutions.
