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IMF heads must roll over shameful Greek failings - Telegraph
Whatever the eventual outcome of the Greek debt talks, there are a number of judgments can already be made; one is that a large part of the blame for this ever deepening debacle lies at the doors of the International Monetary Fund, which from the very beginning has had both its priorities and its analysis of the situation hopelessly wrong. [...] By any standards, however, the IMF’s entanglement with the eurozone crisis is a whopper of a screw-up. Nor is it something in which the IMF should have got involved in the first place. Europe, one of the richest regions in the world, should have been left to sort out its own affairs. [...] This is more particularly the case as the Greek debt crisis is almost entirely one of the eurozone’s own making. And yet unforgivably, Greece is now the IMF’s biggest bailout ever – $35bn for a population of just 11 million. [ after all it was an EU (&international) bank bailout through the backdoor. at a times where banks were not able to cope ]
IMF  ChristineLagarde  Grexit  austerity  economic  history  Leadership  Angela  Merkel  Wolfgang  Schäuble  ECB  Troika  MarioDraghi  European  Union  monetary  Europe  GFC  democracy  Career  Politicians  unintended  consequences  incomplete  information  unknown  unkown  No  Representation  fairness  Great  Depression  lost  decade  lost  generation  PIGS  bailout  EFSF  haircut  debt  jubilee  debt  restructuring 
june 2015 by asterisk2a
BBC News - ECB cuts rates and launches stimulus programme
1-Day Before: http://youtu.be/_6D_xVeoIXs "ECB faces crunch on deflation threat" +++ The ECB has cut its benchmark interest rate to 0.05%, and introduced new stimulus measures. The ECB had earlier cut its rate from 0.25% to 0.15% in June, and also became the first major central bank to introduce negative interest rates. It will also launch an asset purchase programme, which will buy debt products from banks. It is hoped this move will add liquidity to the financial system and revive lending. [...] "[A] last roll of the dice". "The ECB has now almost exhausted its ammunition for preventing the Eurozone sliding into a devastating deflationary, contractionary spiral," +++ Analysis: http://youtu.be/IErml4SmKmE "European banks – Work those ABS" +++ bit.ly/1A6pmLU - France and Friends: Merkel Increasingly Isolated on Austerity "Europe ... is threatened with lasting weak growth should the deficit rules continue to be strictly interpreted. [ BuBa demands higher wages, ECB fiscal stimulus ]."
ABS  OMT  LTRO  ECB  monetary  transmission  mechanism  monetary  policy  unconventional  monetary  policy  austerity  PIGS  faultlines  Structural  Impediments  IMF  Germany  BuBa  deflation  deflationary  communication  zombie  banks  confidence  trustagent  trust  balance  sheet  recession  fiscal  policy  QE  bond  bubble  deleveraging  lost  decade  lost  generation  SME  SMB  Mittelstand  creditcrunch  creditcrisis  economic  history  debtoverhang  NPL  EuropeanSystemicRiskBoard  riskaversion  ZIRP  NIRP  negative  real  interest  rate  secular  stagnation  Makers  policy  error  policy  folly  Career  Politicians  inflation  expectation  stagnation  Betongold  Beton  Gold  hunt  for  yield  unintended  consequences  complexity  incomplete  information  France  liberal  economic  reform  Stability  Pact  Italy  academics  academia  deficit  budget  deficit  fiscal  deficit  wage  growth  wage  inflation  fiscal  stimulus  Wolfgang  Schäuble  Angela  Merkel  Sick  Man  of  Europe  infrastructure  investment  investment  business  investment  labor  market  reform  recovery 
september 2014 by asterisk2a

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