Friday, 9 October 2015

Era of IMF as political plaything of the French must be ended. What about the EU?

Thus reads today's, 9th Oct headline in the DT business section. It regurgitates the material in my blog of 23 rd Sep,

Lynn's piece points out the current IMF supremo, Mme Lagarde is not even an economist but a lawyer and PR expert bent on a political career. Madame President sounds good in the Eylsee but she has been a disaster at the IMF with all decisions like supporting the disatsrous Greek Troika intervention an economic decision made for self seeking political reasons. That never ends well re Edward Heath.

People in glass houses however should not throw stones. I cannot recollect any BoE governors before Eddy George being economists indeed economic training was regarded as a real drawback for a governor.

More worrying is that the French also run the EU. Add in the Germans and their aparatchiks and the Franco Prussians outnumber Brits five to one in the corridors of power of  Brussels and blatantly favour French and German interests and companies. VW diesel fiddles will not be the only cockroach in the Brussels kitchen as Warren Buffet frequently points out. That is something the EU philes always forget to mention!.

Lynn's thesis is that this French dominance means they will be trying to turn the whole EU into an economic basket case on the French anti business model that I suspect Corbyn wants us to adopt. So a vote to remain is like voting to stay on the Titanic.

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