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Thread: First Ireland, now IMF admits austerity was wrong for Greece

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    Politics.ie Member Berchmans's Avatar
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    Default First Ireland, now IMF admits austerity was wrong for Greece

    From the Guardian:

    "The International Monetary Fund is to admit that it has made serious mistakes in the handling of the sovereign debt crisis in Greece, according to internal reports due to be published later on Wednesday.

    Documents presented to the Fund's board last Friday will reveal that the Washington-based organisation underestimated the damage austerity would cause to the eurozone country, which has required two bailouts in the past three years.
    "

    The expression "no sh!t, Sherlock" comes to mind...

    IMF 'to admit mistakes' in handling Greek debt crisis and bailout | Business | guardian.co.uk
    Those who can, do. Those who can't, teach.
    Those who can't do either, are Sindo columnists.

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    Politics.ie Member bormotello's Avatar
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    If it was bad advice, then what was the good advice?
    Continue to borrow and do nothing?
    “Every country has the government it deserves.”
    Joseph De Maistre

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    Politics.ie Member neiphin's Avatar
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    i could have told them that long before the FF traitors invited in the IMF
    "If we VOTE YES there will be no more austere budgets. Fact " Hammer, mayday 12'

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    Politics.ie Member commonman's Avatar
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    Quote Originally Posted by neiphin View Post
    i could have told them that long before the FF traitors invited in the IMF
    So now we know, what can be done to get things right, when you have a government who get off on this kind of thing.

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    Quote Originally Posted by Berchmans View Post
    From the Guardian:

    "The International Monetary Fund is to admit that it has made serious mistakes in the handling of the sovereign debt crisis in Greece, according to internal reports due to be published later on Wednesday.

    Documents presented to the Fund's board last Friday will reveal that the Washington-based organisation underestimated the damage austerity would cause to the eurozone country, which has required two bailouts in the past three years.
    "

    The expression "no sh!t, Sherlock" comes to mind...

    IMF 'to admit mistakes' in handling Greek debt crisis and bailout | Business | guardian.co.uk

    So the IMF have the same caliber of gobshixxs we have?

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    Politics.ie Member Telemachus's Avatar
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    Yeah man - massive deficits was the way to go
    ..the Irish nation can become other than white, by privileging the voices of the racialised and subverting state immigration but also integration policies. – Ronit Lentin

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    Quote Originally Posted by Berchmans View Post
    From the Guardian:

    "The International Monetary Fund is to admit that it has made serious mistakes in the handling of the sovereign debt crisis in Greece, according to internal reports due to be published later on Wednesday.

    Documents presented to the Fund's board last Friday will reveal that the Washington-based organisation underestimated the damage austerity would cause to the eurozone country, which has required two bailouts in the past three years.
    "

    The expression "no sh!t, Sherlock" comes to mind...

    IMF 'to admit mistakes' in handling Greek debt crisis and bailout | Business | guardian.co.uk
    Saying they underestimated the impact of austerity is not the same as saying it was "wrong".

    The IMF have never said that austerity in Ireland was wrong. And they never underestimated the impact of austerity in Ireland. The IMF are happy with the "pace of correction" in Ireland and continue to advocate for a €3.1 billion "adjustment" for next year and €2 billion for 2015.

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    This is old news. Here is some IMF analysis from last October.



    The growth forecast error for Greece is nearly -8%; for Ireland it is zero.

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    Quote Originally Posted by Taxi Driver View Post
    Saying they underestimated the impact of austerity is not the same as saying it was "wrong".

    The IMF have never said that austerity in Ireland was wrong. And they never underestimated the impact of austerity in Ireland. The IMF are happy with the "pace of correction" in Ireland and continue to advocate for a €3.1 billion "adjustment" for next year and €2 billion for 2015.
    Which is going to destroy this economy more job losses and increase emigration and the closing down of more international retail outlets!

    Did not LeGarde not state ' they had underestimated' the affect of austerity on Ireland?

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    Politics.ie Member bormotello's Avatar
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    Different from Guardian left wing propaganda opinion about IMF and Greece
    IMF Admits Mistakes on Greece Bailout - WSJ.com

    “Every country has the government it deserves.”
    Joseph De Maistre

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