IMF admits disastrous love affair with the euro, apologises for the immolation of Greece
Quite a hangover, huh?!
"The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory.
This is the lacerating verdict of the IMF’s top watchdog on the Fund’s tangled political role in the eurozone debt crisis, the most damaging episode in the history of the Bretton Woods institutions.
Many documents were prepared outside the regular established channels; written documentation on some sensitive matters could not be located
It describes a “culture of complacency”, prone to “superficial and mechanistic” analysis, and traces a shocking break-down in the governance of the IMF, leaving it unclear who is ultimately in charge of this extremely powerful organization."
The US should never have been a part of this fiasco, it has always been such, it has always done more damage than good.
The IMF has been wrong, and destroying countries because of it at least since I was in university in the 1970's