EU/IMF ''Unveil Significant Corruption'' - Former IMF Economist

RockinRolla

Dr. Daniel Gros, formerly an economist with the IMF, has said, as some of us have speculated might happen, that the EU/IMF investigators will uncover massive fraud and corruption in their examination of the banking sector. He says that it 'beggars belief' that losses equalling more than 25% of Ireland's GDP have come out of nowhere just months after the 'all clear' by the (now exposed as worthless) stress tests.

Dr Daniel Gros believes that when the crisis is over the country will need a ‘truth commission’ similar to that established in Iceland to investigate and analyse the collapse of the banks and the lead-up to the catastrophic event.

Iceland found that senior politicians, regulators and bankers were all at fault for bringing down the country’s economy.

He believes that the troika – European Commission, European Central Bank and IMF – will expose the skeletons in the cupboards of the country’s banking system and adds that he believes the losses of €50 billion uncovered so far will be the tip of the iceberg.

He also says that they will have to go looking to get back significant Irish assets held abroad, just as they did with Argentina. The Shredders will be busy tonight!

http://www.examiner.ie/ireland/eu-imf-will-unveil-significant-corruption-136936.html

some_dose

In other news, the pope is a catholic

Princess Consuela Bananahammock

Oh, they'll need more than shredders, methinks.

I'd have no problem with this bailout if FF and co got their asses well and truly publicly nailed to the wall. And I don't think there'll be enough cronies to save them.

Son Of A Vidic

They can expose all they want, just as long as the scum concerned pay for their actions.

ascanbe

Thieves being investigated by even bigger thieves..

tolosenc

some_dose wrote: »

In other news, the pope is a catholic

The pope ****s in the woods.
A bear wears a funny hat.
Water is wet.

policarp

RockinRolla wrote: »

I thought you were banned from posting new threads on AH for a month...

Run_to_da_hills

medicman2009 wrote: »

They can expose all they want, just as long as the scum concerned pay for their actions.

Unfortunitally it will be us that will pay for their actions. :mad:

K-9

The Irish banks have declared or made contingencies for bad debts at this stage, I'm not sure where he is getting this 25% of GDP figure. It was well known about Anglo, somebody like him should have been aware of it.

The mortgage ticking time bomb is the next one, but the only banks who published possible huge losses coming was British owned banks here, not covered by the State guarantee.

jimmycrackcorm

IMF announce new tool in their financial armoury - a crystal ball.

Jesus Wept

I for one welcome our new monetary overlords.

chucken1

RockinRolla wrote: »

Dr. Daniel Gros, formerly an economist with the IMF, has said, as some of us have speculated might happen, that the EU/IMF investigators will uncover massive fraud and corruption in their examination of the banking sector. He says that it 'beggars belief' that losses equalling more than 25% of Ireland's GDP have come out of nowhere just months after the 'all clear' by the (now exposed as worthless) stress tests.



He also says that they will have to go looking to get back significant Irish assets held abroad, just as they did with Argentina. The Shredders will be busy tonight!

http://www.examiner.ie/ireland/eu-imf-will-unveil-significant-corruption-136936.html