IMF Rejects Own Research, Backs Austerity in Portugal

By: Saturday October 20, 2012 12:00 pm

The EU wrapped up its summit, and the major policy announcement was an agreement for a single Eurozone bank regulator, a step on the road to common depository insurance. This is a couple years off, and leaders announced that no country would be able to get bailout funds for its banks until the regulator was in place, which could pressure Spain into tapping that bailout fund for its government operations, if they’re on the hook for rescuing their own banks in the near term. In addition, Germany and France appear divided over the next steps on fiscal integration, with Germany emphasizing budget discipline and France warning against recession.

 

IMF Chief Lagarde to Europe: Lighten Up on the Austerity

By: Thursday October 11, 2012 7:20 am

IMF managing director Christine Lagarde has been in the “stop the austerity” camp for a little while now, but this was perhaps her most explicit statement yet on the policy that’s gradually killing off Europe’s economy.

Study: Time to Stop Banks From Risky Trading

By: Thursday October 11, 2012 6:00 am

The IMF has released a new study showing that, in essence, the world would be a much safer place if international banks stopped trading in the financial markets.

IMF: Principal Reductions Now!

By: Wednesday July 4, 2012 7:08 am

The International Monetary Fund has explicitly called for principal reductions for underwater borrowers to deleverage individual balance sheets and jumpstart a soft recovery.

US Government Backstops Most Derivatives

By: Sunday June 24, 2012 10:40 am

Dimon is right to believe that derivatives are safe for JPMorgan Chase. He has the Fed and the FDIC to backstop him. And it’s really great that you get to backstop the Fed and the FDIC for him and his gambling habit.

German Economy Slows, Perhaps Spurring Action in Europe

By: Friday June 22, 2012 9:06 am

I’ve got the sense, from looking at how Germany has reacted to the crumbling Eurozone around them, that they were predisposed to not react until it got personal, until the depressed economy started affecting their own people. Germany made great economic strides by using the Eurozone to their benefit over the last 10 years, and for a solution that would accommodate all of Europe, that would have to recede.

Lakeside Diner

By: Wednesday June 13, 2012 4:45 am

A variety of links to articles/interviews/speeches on current issues that may be of interest.

IMF’s Lagarde, Who Chided Greece for Tax Evasion, Doesn’t Pay Taxes

By: Tuesday May 29, 2012 11:50 am

You remember Christine Lagarde said she didn’t sympathize with Greeks as much as she did, say, African children, because Greeks got themselves into their own mess by not paying their taxes. That’s true more for the rich in Greece than the poor, who are bearing the brunt of the suffering during the depression, however. But it appeared to be an unnecessarily cruel thing to say, as evidenced by Lagarde walking back the comments on Facebook after making them. Turns out she doesn’t pay taxes.

Democrats Still “Myth-Busting,” Proudly Boasting About Spending Cuts

By: Tuesday May 22, 2012 3:33 pm

Today the official Twitter account of the Democratic Party proudly retweeted, and Democratic operatives proudly passed around a Marketwatch story that finds that federal spending in the Obama era has experienced the smallest growth in real dollars in 60 years. The Dems still don’t seem to get that this means they’ve doomed the economy to slower growth and left millions unemployed.

The Importance of Eurobonds

By: Tuesday May 22, 2012 8:40 am

Discussions on how to save the Euro union are partly focused on the idea of issuing Euro-wide bonds, backed by the union as a whole, which would take advantage of the economic strengths of German and other core countries. France’s new President Hollande has proposed this, supported by the IMF and others, but the Germans remain strongly opposed. Euro-wide bonds are likely necessary but are not sufficient to hold the Euro union together.

SUPPORT FIREDOGLAKE
Follow Firedoglake
TODAY’S TOP POSTS
CSM Ads advertisement
Advertisement