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?

Greece v Turkey

Greek leader Alex Tsipras has had a dig at the Turkish Prime Minister over the downing of Russia’s jet in a series of hastily deleted tweets. It appears the Greek premier, leader of a country that routinely suffers violations of its airspace by Turkey, was not too impressed at the shooting down of a plane that was only in Turkish airspace for a mere 17 seconds. Who would have thought a socialist would be prone to such sabre-rattling?

EU Literally Chucking Taxpayers’ Money Down The Toilet

Sewer_Plant

Get Britain Out have uncovered some rather unsanitary revelations about EU waste in the 2014 audit. In a section titled “Example of projects without added value”, the report mentions a scheme devised in 2006 in which millions were spent building a sewage plant and network for two Greek municipalities. There was one minor snag: unfortunately the genius EU technocrats forgot about the linking of households and businesses to the sewage network. A full 8 years later at the close of 2014 the proper plumbing had still not been put in place. The report states:

“Project delivered but remains unused: A CF project in Greece consisted of the construction of a sewage plant and of a sewerage network for two municipalities. The infrastructure works were completed in 2013. However, the project cannot be used until connections from private households and industry to the sewerage network are also constructed. From the initial announcement of the project (in 2006) the municipality had enough time to design and implement such connections to the sewerage network. However, at the end of 2014, our audit found that such connections were still not in place. The project of the private connections has been procured during 2015.”
While Guido can sympathise that it’s always hard to find a good plumber when you need one, 8 years does seem rather a long time…

Telegraph and Mail Fall for Greek F-16 Cash Dash Hoax

GREEK PLANE

The Telegraph and Mail have just pulled articles claiming that a Hellenic Air Force pilot made an unscheduled stop in Turkey in order circumvent cash withdrawal restrictions in Greece:

deleted article f-16 greek pilot euros turkey

The hoax appears to have originated on French aviation blog RadioCocpit.fr. It managed to convince both the Telegraph and Mail that a pilot flying on patrol over the Greek island of Samos landed his plane on an abandoned Turkish airfield, hid it in a hangar, legged it to a hole in the wall, and withdrew €2,000 before scrambling his plane back into the sky.

Maybe he was just playing hide and Greek…

Guy Verhofstadt Tells Syriza’s Alexis Tsipras What To Do

Guido has many times enjoyed Nigel Farage giving Guy Verhofstadt a tongue lashing. This time liberal Guy is the one doing the venting, demanding that Syriza implement actual reforms rather than just pay lip-service to them. Verhofstadt in “talking sense shocker”…

Farage’s Speech Praising Tsipras

Radical far leftist Alexis Tspiras looked a little confused by his unlikely new friend in the European Parliament:

“There is a new Berlin wall and it is called the euro…”

Fak Off! Yanis Varoufakis’ Greatest Hits

yanis bye

Following Greece’s “Oxi” vote last night, Greece’s rock star finance minister Yanis Varoufakis has handed in his resignation. Here are the best moments from the memorable one-liner merchant:

Will they be feta off without him?

Hat-tip: Bloomberg

Paul Mason: Angela Merkel, Your Boys Took One Helluva Beating

Greferendum: Triumph for No

grexit

British cheerleaders for the EU like Roland Rudd are not taking the expressed will of the Greek people well:

The usual establishment guilty men will be lamenting over at the FT:

This vote does not mean an instant Grexit, nor does it mean the €uro is finished. It does mean that the supposed inevitability of greater integration and irreversibility of the €uro is over. As someone once said, for the forces opposed to a unified European supra-state

“… we have a new experience. We have victory – a remarkable and definite victory… Now this is not the end. It is not even the beginning of the end. but it is, perhaps, the end of the beginning.”

Tonight it is looking like the Greek people voted by a 2 to 1 margin against the EU’s diktat… Le Projet Européen est terminé.

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