IMF’s Lagarde Repays Osborne

Osborne-and-Lagarde-008.jpg

IMF chief Christine Lagarde – currently due to stand trial over a €400 million fraud case – has been spinning overtime that Brexit will damage the UK. This is merely a geo-political courtesy return favour to Osborne who campaigned hard for her to get the IMF chief’s job.

In reality the IMF figures predict that UK growth will outpace both Germany and France as well as the Eurozone as a whole. Even the short-term initial Brexit effects are marginal, and the Bank of England will stand ready to flood liquidity into the markets in the event of Brexit, which will have a soporific effect on markets. No credible economic forecaster expects any long term negative effect on growth…




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Quote of the Day

President Trump on May’s Brexit deal:

“I would say that Brexit is Brexit. … The people voted to break it up. So I would imagine that’s what they’ll do. But maybe they’ll take a different route, I’m not sure that’s what they voted for.”

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