Posts in "IMF"

By John McKenna at 9:31AM

Jul 5, 2011

Dominique Strauss-Kahn Released without Bail

The sexual assault case involving former IMF chief and 2012 French presidential candidate Dominique Strauss-Kahn, which became a worldwide story of mystery, anger, and shock, took another turn today. DSK was released from house arrest without bail after it was determined that the credibility of the alleged victim was in question.

Evidence that surfaced involving this case included a phone call from the hotel maid at the center of this controversy to an incarcerated man about the benefits of bringing charges against DSK, implying that there may have been a more monetary motive for getting him thrown in jail, rather than for personal justice. It was also revealed by the defense that she may have links to criminal activities as well as an obscure asylum application.

Ireland Can't Find Their Pot of Gold

According to Financial Times, Greece won't the the last to receive some financial assistance from the International Monetary Fund (IMF). Ireland is seeking a bailout, but this time they can't handle it themselves.

As the first country in Europe to perform a bailout in 2008, Ireland has begun descending through the slippery slope of artificial financing an economy that can no longer be sustained at its current consumption rate. This crisis within Ireland is sparking worry for the Euro and participating nations. As the IMF starts its quest to assist, some critics are wondering if Ireland will be cooperating by cutting spending as well as raising taxes in order to balance the budget. The IMF is suppose to be used in a crutch-like situation assisting a country through a dry spell until they coach themselves back to a healthy economic status:

Originally set up to administer the postwar system of fixed exchange rates, the IMF was constructed to tide over countries suffering balance of payments problems, generally by easing liquidity, while the governments returned themselves to solvency by cutting spending or raising taxes.

Let's see if that is the strategy Ireland uses...along with other Euro-zone countries in the coming economic realities they will face. Original post here.

Posted in: