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Thread: France's Lagarde Named New IMF Chief

  1. #1
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    France's Lagarde Named New IMF Chief

    France's Lagarde named new IMF chief - Europe - Al Jazeera English

    Although she is not an economist, she has gained respect as the French finance head during its leadership of the G-20 group of countries, as well as during European debt talks.

    Lagarde toured the world to convince emerging economic powers, such as China and India, that she would take tough stances on European bailouts and would not be biased against their interests.

    "I am not here to represent the interest of any given region of the world, but rather the entire membership," she told the IMF board last week.

    Nevertheless, there had been grumblings from non-European members about the continent's 65-year lock on the managing director's job. Carsten was not able to gain broad support despite his impeccable credentials: a PhD in economics from Chicago University and stints as both finance minister and governor of the central bank of Mexico.

    Under an informal arrangement in place since World War II, the IMF is always headed by a European citizen, while its sister organisation, the World Bank, is headed by an American. The US also names the IMF's top deputy.
    Nothing like appointing a woman to an important post for dispelling allegations of French chauvinism.
    Last edited by Jeezy; 06-29-11 at 02:33 AM.
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    Re: France's Lagarde Named New IMF Chief

    Well let us hope they start straightening out all this business in Greece, it makes me a bit nervous.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: France's Lagarde Named New IMF Chief

    A few years ago I interviewed John Perkins the Author of "Confessions of an Economic Hit Man" and it explains how the World Bank and IMF manipulate Governments to cause debt that can never be repaid.

    It ties in to what is happening around the world today.

    I would post a copy of my interview but alas I don't have one but I did find last year online . It's very long but it will tell you what has been going on a very long time.


    Part two.

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    Re: France's Lagarde Named New IMF Chief

    Another Bilderberg person. Of course, that is to be expected.
    I've never been able to understand why a Republican contributor is a 'fat cat' and a Democratic contributor of the same amount of money is a 'public-spirited philanthropist'.
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