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But Morgan Kelly's argument is that the IMF was a good deal more realistic and sympathetic to Ireland's case than the ECB and that the subsequent deal was almost as much an embarrassment to the IMF as the ECB.  If we have to identify a bad guy here, it is the unidimensional mandate and determination of the ECB to protect bondholders at all costs and put price stability above employment or structural balance within the EDurozone.

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon May 9th, 2011 at 03:43:20 PM EST
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That's my recollection and my view, too, because it seemed obvious that the moment things went to shit in Greece/Ireland/wherever -- as we all said they would -- the anti-IMF chants would start and many would immediately fall for it.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Mon May 9th, 2011 at 05:19:46 PM EST
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