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IMF admits disastrous love affair with the euro and apologises for the immolation of Greece
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…
- Ambrose Evans-Pritchard
- The Telegraph
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…
It describes a “culture of complacency”, prone to “superficial and mechanistic” analysis, and traces a…