Watchdog Slams IMF’s Complacency, Lack of Transparency and EU Groupthink

lagarde-trial

A damning report by IMF watchdog the Independent Evaluation Office has slammed a “culture of complacency” in Christine Lagarde’s organisation. Focusing on the IMF’s response to the Eurozone crisis, the report claims that the Fund was riven with “issues of accountability and transparency”, claiming Lagarde and senior management established “small, ad hoc staff task forces” to plan for the possibility of bailouts, rather than holding executive board meetings. The report slams the “lack of board involvement”, with management failing to discuss – sometimes despite direct requests – issues around the unfolding crisis. Preparations made by management lacked “analytical depth, rigor, or specificity”. Most damning of all, however, is the IMF’s “groupthink” and unquestioning links to European policy – particularly their irrational fervour for the Euro. The report concludes:

“At the euro area level, IMF staff’s position was often too close to the official line of European officials, and the IMF lost effectiveness as an independent assessor.”

So much for that independent report, eh Remainers?

“Government Sachs” Hires EU’s Barroso

goldman-sachs-eu

Goldman Sachs has continued hugging the EU commission tight, after financing the anti-Brexit Remain campaign and spending millions lobbying Brussels, the aggressive Wall Street firm remains careful to keep in with the Eurocrats. Known as “Government Sachs” by those who mock the firm’s habit of hiring and providing US government officials, it is clinging tight to the EU bureaucracy post-Brexit. It has hired the former head of the European Commission Jose Manuel Barroso to be an advisor and non-executive chairman of Goldman Sachs International. These kind of hires provide lucrative connections to power and come to be very profitable in times of political crisis…

In September 2008 Peter Sutherland, also a former Irish EU commissioner, was Chairman of Goldman Sachs International when he strongly advised the naively led Irish government to buy up bank bond debts at the Irish taxpayer’s expense, for a total cost of some €85 billion or 37% of GDP, the highest per capita cost of the credit crisis in Europe. Sutherland’s advice will have saved Goldman Sachs billions in losses on the firm’s bond holdings. It will take the Irish people generations to pay off the debts Goldman Sachs advised their politicians to take on…

Irish Election: Enda’s “Long Term Economic Plan™”

The Irish parliament Dáil Éireann has been dissolved and the election is scheduled for February 26.  Enda Kenny’s centre-right Fine Gael party is running on a familiar platform. Central to it is their Long Term Economic Plan™…

ltep

Fine Gael in coalition with the Labour Party has implemented an austerity programme which saw year-on-year, double-digit real-terms cuts to spending.  If they get re-elected – polls have them clear ahead – it will be on the back of the fastest growing economy in Europe. George Osborne likes to say that those who criticise him for not cutting spending “don’t have to get re-elected”. Enda is about to test the idea that in fact you can cut spending, cut the deficit, keep taxes low and get re-elected…

Ireland To Decriminalise Drugs

ireland

Guid O’Fawkes is pleased to report that the Ireland is to decriminalise drugs for personal use. From 2016 the possession of small quantities of drugs, including heroin, cocaine, and cannabis, will no longer be a criminal offence. Aodhán Ó Ríordáin, the chief of Ireland’s National Drugs Strategy, has spoken of the need for a ‘radical cultural shift’ in how drug use is viewed. Ahh, the green, green grass of home…

Owen Jones: Lie-RA

Fresh from telling the Sinn Fein summer school to “take inspiration” from the Easter Rising, in which 466 died and 2,217 civilians were wounded, Owen Jones, under criticism on Twitter, claimed to his critics: “I vehemently oppose all IRA violence and have never expressed any support for it”.

“Never”? Oh really?

Actually the truth is that Owen was an IRA supporter and once wrote

“I militarily support the IRA against the British State”

Owen, who supports votes for 16 year olds, now says:

Owen describes his former ramblings as “stupidity”.  At what age exactly did he stop supporting IRA/Sinn Fein? He was at their summer school last month…

UPDATE: Turns out Owen was sweet sixteen when he supported IRA/Sinn Fein

Sinn Fein Should “Take Inspiration” From Armed Uprising

First Corbyn hosted Gerry Adams and Martin McGuinness in parliament, now Red Jez’s number one media cheerleader has taken some time off from the campaign to attend Sinn Fein’s “Summer School”. According to Sinn Fein/IRA party newspaper An Phoblacht, OJ told a Shinners panel discussion in Cork that Sinn Fein are “social progressives” and that they should “take inspiration” from the Easter Rising. That is the uprising which saw 466 deaths and 2,217 civilians wounded. 

What else did he teach his republican fans? Well there is no denying he has made a bomb from his books…

Irish Billionaire Injuncting Media Over Loan Revelations

denis-obrien-dail-report Injunctions gained today make it harder for anyone in Ireland to find out about the scandal swirling around the politically connected Irish billionaire Denis O’Brien. He seemingly managed to obtain loans at a bargain rate of 1.25% from IBRC – the nationalised remnant of the bust Anglo-Irish Bank – saving himself tens of millions in interest payments annually on the prevailing 7.5% commercial interest rate. How? Well it appears the loans were agreed verbally. As you do…

As the Irish deputy Catherine Murphy told the Dail “Given that we are talking about outstanding sums of upwards of €500 million, the interest rate applied is not an insignificant issue for the public interest.” The loans relate to a deal for a company called Siteserv, the takeover of which is also in itself highly controversial. Murphy raised the issue and proposed a motion to have the matter more thoroughly examined today in parliament, O’Brien immediately got privacy injunctions preventing the Irish media from reporting what she said in parliament. Unfortunately for Denis O’Brien the whole report is still available under privilege on the official parliament website 404-obrien Denis O’Brien’s lawyers may have been able to injunct and 404 the Irish media. However this has only lead to the Streisand Effect coming into play…

10 Reasons to Re-Non-Domicile in Ireland if Red Ed Wins in May

Non-doms, hedge fund managers, entrepreneurs and investors are still welcome in Ireland:

  1. Only income from Irish sources is taxable in Ireland.
  2. Income from UK or foreign sources is only taxable to the extent of amounts remitted (brought into) Ireland.
  3. Remittances of capital are not subject to Irish income tax – income earned at a time when the individual was not resident in Ireland would be treated as capital in nature and therefore not subject to income tax here when brought (remitted) to Ireland. This means that while such individuals will be chargeable to tax in Ireland on Irish source income and gains, they will only be chargeable on foreign income and gains to the extent that they are remitted to Ireland.
  4. Where non-domiciled individuals come to Ireland and use their wealth accumulated outside of Ireland to cover their day to day living expenses, it is possible for such individuals to live in Ireland free of tax.
  5. Individuals tax resident or ordinarily tax resident but not domiciled in Ireland are liable to Capital Gains Tax on gains arising on the disposal of assets situated in Ireland and the United Kingdom, and on all foreign gains to the extent that those gains are remitted to Ireland.
  6. Prime property in Dublin as well as estates in the country are still below their bubble highs – though Dublin is rebounding fast. Beachfront properties or houses with stabling facilities are plentiful.
  7. Ireland has world beating sporting teams, fantastic golf courses, the fishing is spectacular, hunting is legal, the sailing is great and the country is the world leader in equestrian sports.
  8. Ireland’s regional airports are an hour away from London City Airport in your Lear  jet.
  9. Ireland has a world class educational system and universities, technology start-ups are springing up everywhere, foreign tech firms like Twitter base their European headquarters in Ireland because the young well-educated English-speaking workforce has the talent they need.   The International Financial Services Centre ‘IFSC’ in Dublin welcomes hedge funds with financial incentives to relocate and is second only to London for the number of fund managers. The Heritage Foundation ranks Ireland the freest economy in the euro-zone.
  10. There is broad cross-party support for Ireland remaining a low tax, business friendly country welcoming to foreign investors. Corporation tax is 12.5%, inward investment incentives with tax breaks for entrepreneurs are generous.

If Red Ed does get elected on May 7 and the socialist terror comes to Britain, Ireland will welcome the huddled elite, yearning to breathe free…

Happy St Patrick’s Day From Guido and Tony Abbott

Lá Fhéile Pádraig Sona Daoibh![…]

+ READ MORE +

NHS Used to Lure US Tech Firms to Britain

us tech companies

The government is trying to attract US tech companies to the UK by tempting them with the prospect of being treated on the NHS as part of the “expat experience”. Alongside access to free healthcare, US companies who take advantage of the UK Trade & Investment’s HQ-UK project are being offered exclusive perks such 24 hour processing for visa applications, a complete concierge service to manage the transition of the company and a relationship manager to help newly-arrived firms get connected.[…]

+ READ MORE +

No Sun, No Comment

ni-tax-x480

Well done to the FT’s Chris Giles, George Parker and Vincent Boland for the front page confirmation today of Guido’s story from back in October about the Tory offer to the Northern Irish unionists on corporation tax. As Guido’s readers in The Sun and here already know, the Tories have promised a deal on business taxes to allow Northern Ireland to compete with the Republic’s lower taxes.[…]

+ READ MORE +

Happy Saint Patrick’s Day!

Guido is off with the kids to the parade in Waterford.

Lá fhéile Pádraig sona dhaoibh![…]

+ READ MORE +

Ireland Voting to Abolish Second Chamber

ABOLISH-SEANADToday Ireland is voting in a referendum to abolish the Seanad – the second chamber of parliament which costs some €20 million a year to provide a sinecure for recycled politicians who have been kicked out of the properly elected chamber by the voters.  […]

+ READ MORE +

Call Me Chuka O’Munna

As revealed in yesterday’s Sun column, two-faced Chuka Umunna isn’t so shy about the ‘British Obama’ tag when he’s away from the public eye. When the President visited Ireland in the summer of 2011 he delighted his hosts by telling them of his Moneygall ancestral roots and dubbing himself Barry O’Bama.[…]

+ READ MORE +

Happy St Patrick's Day Prime Minister

You knew he was Irish…[…]

+ READ MORE +

Shinners Show Up

Tory MPs are spluttering into their afternoon tea over this:

Dear Colleague,

Reminder:

Sinn Fein Briefing meeting for Members
Michelle Gildernew MP, 12.30pm, Room T, Portcullis House, Wednesday 16 January

I am writing to remind you of the invitation to attend invite tomorrow’s briefing with Sinn Fein MP Michelle Gildernew next Wednesday, 16 January.

[…]

+ READ MORE +



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Heather Wheeler talks to Burton Mail about her tweet…

“It was a tongue in cheek pop after the European Parliament tweet – it was purely that. I also wanted to congratulate Team GB on a brilliant result and thirdly congratulate the Commonwealth countries who also did very well. Fourth, I am also looking forwarded to establishing new trade agreements. That was it – nothing more. Let’s just enjoy the summer!”

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

“JEREMY, JEREMY, JEREMY” “JEREMY, JEREMY, JEREMY”
FANCY A JOB IN DANCZUK’S OFFICE? FANCY A JOB IN DANCZUK’S OFFICE?
TEAM GB SING NATIONAL ANTHEM ON VICTORY JET HOME TEAM GB SING NATIONAL ANTHEM ON VICTORY JET HOME
HOW BRITISH EMPIRE BEATS EU FOR OLYMPIC MEDALS HOW BRITISH EMPIRE BEATS EU FOR OLYMPIC MEDALS
PRCA Complain to Carolyn Harris Over Lobbyist’s Pass PRCA Complain to Carolyn Harris Over Lobbyist’s Pass
Oily Smith the Devolution Dodger Oily Smith the Devolution Dodger
Times Runs Full Page Ad for “China Heroes” Times Runs Full Page Ad for “China Heroes”
SONG FOR JEREMY SONG FOR JEREMY
DROMEY CUTS SHORT ATTACK ON CORBYN TO GREET CORBYN WARMLY DROMEY CUTS SHORT ATTACK ON CORBYN TO GREET CORBYN WARMLY
LABOUR MP GIVES LOBBYIST PARLIAMENTARY PASS LABOUR MP GIVES LOBBYIST PARLIAMENTARY PASS
BILL ETHERIDGE SPEAKS: “IT’S BEEN HARD TIMES” BILL ETHERIDGE SPEAKS: “IT’S BEEN HARD TIMES”
JAMIE OLIVER’S SUGARY, FATTY ADVERTISING HYPOCRISY JAMIE OLIVER’S SUGARY, FATTY ADVERTISING HYPOCRISY
LABOUR CONFERENCE CRISIS TALKS BREAK DOWN LABOUR CONFERENCE CRISIS TALKS BREAK DOWN
BRUTAL TORY ATTACK AD SAYS LABOUR SOFT ON ISIS BRUTAL TORY ATTACK AD SAYS LABOUR SOFT ON ISIS
CORBYN TO ATTEND MOMENTUM EVENT WITH VILE INTERNET TROLL CORBYN TO ATTEND MOMENTUM EVENT WITH VILE INTERNET TROLL
HOW TO MAKE CANADIAN MINING INTERESTING HOW TO MAKE CANADIAN MINING INTERESTING
TORY REPORT CLEARS FELDMAN AND SHAPPS TORY REPORT CLEARS FELDMAN AND SHAPPS
FIRST PICTURE OF BEARDED GOVE FIRST PICTURE OF BEARDED GOVE
OWEN SMITH: WE NEED TO GET ISIS “ROUND THE TABLE” OWEN SMITH: WE NEED TO GET ISIS “ROUND THE TABLE”
BREITBART BOSS TO RUN TRUMP CAMPAIGN BREITBART BOSS TO RUN TRUMP CAMPAIGN