The IMF hurts, not helps countries in trouble

2 posts

Niccolo and Donkey

For those of a nationalist bent, interational institutions are by definition powers that seek to weaken national sovereignty and are best kept at arm's length.

For this of a liberal interventionist position, the truth of the IMF is much harder to see. However for those needing some reassurance from a liberal, Confessions of an Economic Hitman made an excellent case as to why national sovereignists have been right about the IMF all along.

With the spreading debt crisis contagion in Europe hitting Ireland, even establishment liberals like Doug Saunders of The Globe and Mail question the merits of the IMF coming in and setting up shop in countries facing economic distress:

The IMF really hasn't changed its character:

The actual problems the organization creates:

Niccolo and Donkey

Ambrose Evans-Pritchard on Ireland's Debt Servitude :

Blaming the Germans:

What should the Irish do?

A bit of symbolism: