IMF in Ireland to get British speculation billions

Sceala Clann T.D. Location: Belfast and Donegal.

Even RTE are now reporting what many of us have said here. This is a British sting.
Here is more evidence that the UK was targeting Ireland - to make Billions from high risk speculations. The English Government now want the Irish tax payers to underwrite their high risk betting losses.
The IMF man works for the British.
Is he here to help us - or here to ensure those behind the British speculation sting - the British banks - are paid out. Bust corrupt British banks re-capitalized by the naive Irish tax payers.
Irish Community Images

Watch this man and his actions.
No dilly dallying on the road to recovery if Chopra leads the way - Ajai Chopra, the man running the IMF's mission to Ireland, is not a man to forgive laxity when it comes to unfulfilled promises. His record suggests he would be a hard taskmaster if he took charge of a full-blown rescue programme, says the Irish Times. He is deputy director of the IMF's European department and works as mission chief to Britain. He was previously in the IMF's Asia-Pacific department and led its rescue programme in South Korea after its financial collapse in 1997. Chopra's public interventions in that job suggest he would have little patience with any dilly-dallying on the road to recovery. In a stinging public rebuke to the South Koreans three years into the programme, his mission criticised the failure to shore up banks burdened with bad loans. He also accused "zombie" companies of endangering a financial system saddled with more than $100 billion (€73 billion) in nonperforming loans. Sound familiar? Chopra's sense of the particular intricacies raised by Ireland's economic descent also appears to be well-developed. Indeed he warned in a report issued only last week that British economic growth would slow down if its banks suffered losses on loans to distressed euro zone countries, Ireland among them. The report said loans to Greece, Ireland, Portugal and Spain accounted for about 14% of British gross domestic product, a similar level of exposure to that of French and German banks. In Britain's case, however, claims "are more strongly concentrated on Ireland". This analysis helps explain the speed at which British chancellor George Osborne declared his willingness to help the Irish bailout.

What is the IMF.
It presents itself as some kind of world fund for those in need.
The realities of the IMF are very different, they have left devastation behind them.
en.wikipedia.org/wiki/International_Monetary_Fund

Two criticisms from economists have been that financial aid is always bound to so-called "Conditionalities", including Structural Adjustment Programs (SAP). It is claimed that conditionalities (economic performance targets established as a precondition for IMF loans) retard social stability and hence inhibit the stated goals of the IMF, while Structural Adjustment Programs lead to an increase in poverty in recipient countries.

The IMF sometimes advocates "austerity programmes," increasing taxes even when the economy is weak, in order to generate government revenue and bring budgets closer to a balance, thus reducing budget deficits. Countries are often advised to lower their corporate tax rate. These policies were criticized by Joseph E. Stiglitz, former chief economist and Senior Vice President at the World Bank, in his book Globalization and Its Discontents.[30] He argued that by converting to a more Monetarist approach, the IMF no longer had a valid purpose, as it was designed to provide funds for countries to carry out Keynesian reflations, and that the IMF "was not participating in a conspiracy, but it was reflecting the interests and ideology of the Western financial community".

Argentina, which had been considered by the IMF to be a model country in its compliance to policy proposals by the Bretton Woods institutions, experienced a catastrophic economic crisis in 2001, which some believe to have been caused by IMF-induced budget restrictions — which undercut the government's ability to sustain national infrastructure even in crucial areas such as health, education, and security — and privatization of strategically vital national resources. Others attribute the crisis to Argentina's misdesigned fiscal federalism, which caused subnational spending to increase rapidly. The crisis added to widespread hatred of this institution in Argentina and other South American countries, with many blaming the IMF for the region's economic problems. The current — as of early 2006 — trend towards moderate left-wing governments in the region and a growing concern with the development of a regional economic policy largely independent of big business pressures has been ascribed to this crisis.

Another example of where IMF Structural Adjustment Programmes aggravated the problem was in Kenya. Before the IMF got involved in the country, the Kenyan central bank oversaw all currency movements in and out of the country. The IMF mandated that the Kenyan central bank had to allow easier currency movement. However, the adjustment resulted in very little foreign investment, but allowed Kamlesh Manusuklal Damji Pattni, with the help of corrupt government officials, to siphon off billions of Kenyan shillings in what came to be known as the Goldenberg scandal, leaving the country worse off than it was before the IMF reforms were implemented. In an interview, the former Romanian Prime Minister Tăriceanu stated that "Since 2005, IMF is constantly making mistakes when it appreciates the country's economic performances".

Overall, the IMF success record is perceived as limited. While it was created to help stabilize the global economy, since 1980 critics claim over 100 countries (or reputedly most of the Fund's membership) have experienced a banking collapse that they claim have reduced GDP by four percent or more, far more than at any time in Post-Depression history. The considerable delay in the IMF's response to any crisis, and the fact that it tends to only respond to them (or even create them) rather than prevent them, has led many economists to argue for reform. In 2006, an IMF reform agenda called the Medium Term Strategy was widely endorsed by the institution's member countries. The agenda includes changes in IMF governance to enhance the role of developing countries in the institution's decision-making process and steps to deepen the effectiveness of its core mandate, which is known as economic surveillance or helping member countries adopt macroeconomic policies that will sustain global growth and reduce poverty. On June 15, 2007, the Executive Board of the IMF adopted the 2007 Decision on Bilateral Surveillance, a landmark measure that replaced a 30-year-old decision of the Fund's member countries on how the IMF should analyse economic outcomes at the country level.

Support of military dictatorships
The role of the Bretton Woods institutions has been controversial since the late Cold War period, due to claims that the IMF policy makers supported anti-communist military dictatorships friendly to American and European corporations. Critics also claim that the IMF is generally apathetic or hostile to their views of human rights, and labor rights. The controversy has helped spark the Anti-globalization movement. Arguments in favor of the IMF say that economic stability is a precursor to democracy; however, critics highlight various examples in which democratized countries fell after receiving IMF loans.

In the 1960s, the IMF and the World Bank supported the government of Brazil’s military dictator Castello Branco with tens of millions of dollars of loans and credit that were denied to previous democratically elected governments
There is a extensive list of Countries that were or are under a military dictatorship whilst being members of the IMF/World Bank. From Chile under Augusto Pinochet, to Haiti under Jean-Claude Duvalier, to Philippines under Marcos, to Congo under Mobutu, to El Salvador under the Military dictatorship.
In every instance the debt of the nation actually increased by the end of dictatorship. Approved by the IMF

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IMF in Ireland to get British speculation billions