Thursday, May 19, 2011

Why Mme Christine Lagarde cannot be MD of the IMF!

I blogged last January on the statement made by Mme Lagarde in an interview with the Wall Street Journal, which posting is linked here. I quote her words as reported by Open Europe, in that blog:

In an interview with the WSJ, French Economy Minister Christine Lagarde has said, “We violated all the rules because we wanted to close ranks and really rescue the euro zone.” She said, “The Treaty of Lisbon was very straightforward. No bailing out,” adding that the Greek and Irish rescues, as well as the creation of the bailout fund, were “major transgressions” of the Treaty.

As I again pointed out earlier today, France would have been the most influential member of the Euro Group Ecofin meeting that day as the German Minister was hospitalised en route

The decision to break all the EU Treaties was taken, for the unsatisfactory reasons given by Mme Lagarde in the quote above, in clear contravention of all that the people of Europe had been promised down the years.

For that reason alone, it is clearly unthinkable that Mme Lagarde can be put in charge of one of the chief bulwarks of the entire world's financial system!

Unsurprisingly the link to the actual report has recently become difficult to trace, but the following from Zimbio has the essence, link.

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