Skip to content

Archive

Tag: IMF
David Runnalls the Canadian writer and environment columnist, former Board member of IUCN-the World Conservation Union, and current Distinguished Fellow with IISD, has published an article in The Globe and Mail titled ‘Roasted, toasted, fried and grilled’: climate-change talk from an unlikely source ‘. Runnalls states “ This past little while has seen some statements from unlikely sources about the critical economic importance of dealing quickly with climate change. President Barack Obama led off the batting with his inaugural address, calling on Americans to take the lead in developing the technologies necessary for the emerging low-carbon economy. He pointed to the drought and Hurricane Sandy as the most recent evidence that our climate is changing for the worse. But the most startling statements came from the heads of those bastions of economic orthodoxy: the World Bank and the International Monetary Fund. …[head of the IMF Ms. Lagarde] said: “Unless we take action on climate change, future generations will be roasted, toasted, fried and grilled.” Jim Yong Kim, president of the World Bank, went so far as to insist that climate change be at the top of the Davos agenda, along with finance and growth, “because global warming imperils all of the development gains we have made.” …These statements are not from the head of Greenpeace or from David Suzuki. They come from the heads of the bulwarks of the international financial system. For years, the IMF has resisted straying into the realm of environment and finance, viewing it as a side issue best left to international environmental organizations. And while the World Bank has invested in low-carbon futures and has been active in climate talks, the issue has not been raised to the top of its agenda. Until now. Climate change as the main economic discussion point at the annual meeting of the rich and famous leaders of governments and multinational enterprises?”  Inspired by David Runnalls, The Globe and Mail ow.ly/hMwGA Image source CIGI ow.ly/hMwF2 Roasted, toasted, fried and grilled (February 27 2013)

David Runnalls the Canadian writer and environment columnist, former Board member of IUCN-the World Conservation Union, and current Distinguished Fellow with IISD, has published an article in The Globe and Mail titled ‘Roasted, toasted, fried and grilled’: climate-change talk from an unlikely source ‘. Runnalls states “ This past little while has seen some statements from unlikely sources about the critical economic importance of dealing quickly with climate change. President Barack Obama led off the batting with his inaugural address, calling on Americans to take the lead in developing the technologies necessary for the emerging low-carbon economy. He pointed to the drought and Hurricane Sandy as the most recent evidence that our climate is changing for the worse. But the most startling statements came from the heads of those bastions of economic orthodoxy: the World Bank and the International Monetary Fund. …[head of the IMF Ms. Lagarde] said: “Unless we take action on climate change, future generations will be roasted, toasted, fried and grilled.” Jim Yong Kim, president of the World Bank, went so far as to insist that climate change be at the top of the Davos agenda, along with finance and growth, “because global warming imperils all of the development gains we have made.” …These statements are not from the head of Greenpeace or from David Suzuki. They come from the heads of the bulwarks of the international financial system. For years, the IMF has resisted straying into the realm of environment and finance, viewing it as a side issue best left to international environmental organizations. And while the World Bank has invested in low-carbon futures and has been active in climate talks, the issue has not been raised to the top of its agenda. Until now. Climate change as the main economic discussion point at the annual meeting of the rich and famous leaders of governments and multinational enterprises?”

 

Inspired by David Runnalls, The Globe and Mail ow.ly/hMwGA Image source CIGI ow.ly/hMwF2

IMF agrees with europe's anti-austerity protests (December 3 2012) IMF agrees with europe’s anti-austerity protests (December 3 2012)

Andy Robinson the 52 year old British Economics journalist has published an article in The Nation Magazine titled ‘Even the IMF Agrees with Europe’s Anti-Austerity Protests’. Robinson states “At its semiannual meeting in Tokyo … the IMF announced that the austerity packages applied throughout southern Europe since 2009 have been counterproductive, undermining economic growth and increasing rather than bringing down public debt ratios. Greece provides ghastly proof of the failed logic of the euro orthodoxy. After three years of shock therapy, the Greek economy is in depression and will have shrunk by more than 22 percent at the end 2013, the IMF warns. Employment in Greece has fallen to 1980 levels, and Greek debt dynamics have only deteriorated. Public sector debt has soared from 144 percent of GDP in 2010 to 170 percent, and unless the official lenders agree to take a haircut in a controlled restructuring of debt—as private lenders did earlier in the year—Greece may be forced to leave the euro. “The IMF has admitted the blunder, but tell that to the Greeks,” said Zoe Lanara, international relations secretary of the Greek General Confederation of Labor… overzealous fiscal adjustment cripples an economy, driving down tax revenues, forcing up welfare costs and causing more debt problems. While labor unions and sections of the European left have expressed concern at the impact of austerity on growth since the very beginning, “a year or so ago, most finance ministers didn’t even know what fiscal multipliers were,” said Terrence McDonough, a Marxist economist at the National University of Ireland.”

 

Inspired by The Nation ow.ly/fKcxM image source PressEurop ow.ly/fKcqo

Matthew “Matt” O’Brien the USA author and journalist has published an article in The Atlantic citing ‘Spain Is Doomed: Why Austerity Is Destroying Europe’. In the article O’Brien states “Nearly a quarter of Spain’s population is unemployed. Half of its youth are out of work. And it’s only going to get worse. Spain is supposed to trim its deficit by some 5.5 percent of GDP over the next two years. That’s not a recipe for growth. Just ask the IMF, which downgraded its projections for Spain’s economy back in January. What matters for a nation is its GDP. That’s a country’s equivalent of personal income. If Spain’s GDP is set to fall for the foreseeable future — and it is — then who would want to lend to Spain? The markets gave their answer — practically nobody! — and ECB was forced to fill the void by giving Eurobanks free money to then invest in sovereign debt. Yields came down. European policymakers declared “Mission Accomplished.” …Rather than consider the possibility that the economy might work differently than they think, they have settled on a simple message: The beatings will continue. Unfortunately, morale will continue to not improve. Eventually, you have to think leaders in Europe’s beat-up countries will begin to wonder if life might be better outside the euro zone.”

 

Inspired by The Atlantic http://ow.ly/awRxF image source Business Insider http://ow.ly/awRvH

Leadership should better reflect its membership (June 3rd) Leadership should better reflect its membership (June 3rd)

Christine Madeleine Odette Lagarde the 55 year old French Minister of Economic Affairs has been nominated with the support of UK and German governments as a possible successor to Dominique Strauss-Kahn following his resignation as Managing Director of the International Monetary Fund (IMF). Lagarde potentially also has support from the USA, along with many other EU nations. Despite 187 countries having representation on the IMF, there is a quota based voting system favoring the USA and EU, providing an unwritten convention that the USA nominates the president to the World Bank, and the EU nominates the managing director for the IMF. Although not an economist, Lagarde stated on her nomination “If I’m elected, I’ll bring all my expertise as a lawyer, a minister, a manager, and a woman”.

Inspired by Annie Lowrey http://ow.ly/55OFE image source MEDEF http://ow.ly/55OAE

Dominique Strauss-Kahn, known as DSK, the 62 year old French economist, politician and Managing Director of the International Monetary Fund (IMF), following his arrest in New York on allegations of sexual assault, has now been indicted by a grand jury to face charges relating to the allegations. Strauss-Kahn was believed to be on the verge of announcing his intention to stand for election to the French Presidency as the Socialist Party candidate, against the incumbent Nicolas Sarkozy.  The majority of French believe the allegations are a smear campaign to stifle his candidacy, however a 32 year old maid at his hotel suite claims Strauss-Kahn emerged naked from the bathroom to chase her about the spacious suite and began sexually assaulting her, including forcing her to perform oral sex. Inspired by NYDaily News ow.ly/4UQ07 image source Wikipedia ow.ly/4UQ4S Nicknamed “the great seducer” stands accused (May 19 2011)

Dominique Strauss-Kahn, known as DSK, the 62 year old French economist, politician and Managing Director of the International Monetary Fund (IMF), following his arrest in New York on allegations of sexual assault, has now been indicted by a grand jury to face charges relating to the allegations. Strauss-Kahn was believed to be on the verge of announcing his intention to stand for election to the French Presidency as the Socialist Party candidate, against the incumbent Nicolas Sarkozy.  The majority of French believe the allegations are a smear campaign to stifle his candidacy, however a 32 year old maid at his hotel suite claims Strauss-Kahn emerged naked from the bathroom to chase her about the spacious suite and began sexually assaulting her, including forcing her to perform oral sex.

 

Inspired by NYDaily News ow.ly/4UQ07 image source Wikipedia ow.ly/4UQ4S

Rss Feed Tweeter button Facebook button Technorati button Reddit button Myspace button Linkedin button Delicious button Digg button Flickr button Stumbleupon button Newsvine button Youtube button