Thursday, June 06, 2013

Well let's let bygones be bygones then

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.
If only us hippies starting with well-known bleeding heart Paul Krugman had been listened to things might have been a good deal better -- and Greece might have a few less neo-Nazi parties, like Golden Dawn.

Oh yeah, and a lot less suffering -- and this. But when have the hippies ever been right -- other than consistently and in retrospect?

[cross-posted at Firedoglake]


Montag said...

Oh, c'mon, Atta, hippies are never right, even when they are.

feralcrj said...

let me know how much airplay this actually gets in the usa.

wonder if my parental unit will get his eyes opened while in europe this week. should be interesting if he actually reads something other than rupert crap.

StonyPillow said...

And then when Cyprus died at first, and old Greece did the same,
A sickly silence fell upon the patrons of the game.

Thomas Masterson said...

Not to worry, the European Commission is
on the case. Long story short: we can't depress wages any further by cutting spending, so we need to make it easier to fire people.

P J said...

Unseen so far in this discussion on the results of the most recent merry manipulation of the economy is the phrase (coming from the usual suspects): "Nobody could have seen that coming".

The genius of the market was caught unawares again because "results may vary".

pansypoo said...

they managed to let the 2% scoop up as many treasures as they could FIRST.

Anonymous said...

This. They've leveraged into their trading positions, now it's time to pull the policy switcheroo that will make their beaten-down securities skyrocket -- all the cozy insiders knew it was coming.