EU/IMF 'will unveil significant corruption' - former IMF economist

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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. He makes it sound like the rich and powerful have been busy squirreling away their wealth while the ordinary people are left to pay for the horrendous amount of debt. Surely some mistake?....

EU-IMF
 


eoghanacht

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About time too
 

Holy Cow

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Shredders are busy tonight.

This is the end for FF, the most rotten and corrupt bunch of criminals in europe.
 

eoghanacht

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[ame=http://www.youtube.com/watch?v=gKxMzc6Rig4&feature=related]YouTube - Frank Sinatra - My Way 1974[/ame]

FF swansong
 

Holy Cow

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Will criminal charges be brought in the banana republic?
 

j26

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He says we need a truth commission, we'll probably get a tribunal.
 

Nonsence & lies

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They can start by firing the Attorney General. Every time anyone got close with a question. The answer was always, sorry the AG says answering might interfere with future bla bla bla
 

Holy Cow

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The end is nigh for the maFFia.
 

Barnacle

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His comment on the €50bn so far being the tip of the iceberg is a bit frightening, just how much is it going to be? An investigation is needed, I would say that there are quite a few politician, bankers, developers, etc. concerned at the moment.
 

NYCKY

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This is just one of Dr Gros beliefs, it shouldn't be implied as an assertion. Given that he is a "former" economist with the IMF, I suspect he won't be joining the delegation to Dublin.
 

slx

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Does the IMF do water-boarding?
I hear there are some passwords needed for some encrypted files...
 

Simbo67

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This is just one of Dr Gros beliefs, it shouldn't be implied as an assertion. Given that he is a "former" economist with the IMF, I suspect he won't be joining the delegation to Dublin.
He now works for the Center for European Policy Studies now and is one of the most respected economists in the world. I saw him speak about two years ago and he was shock me to my core when he talked about Ireland, pretty much everything he said came to pass.
 

MsAnneThrope

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"Mr. Chopra, these pesky Tribunals are a huge drain on our finances"
 
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This is just one of Dr Gros beliefs, it shouldn't be implied as an assertion. Given that he is a "former" economist with the IMF, I suspect he won't be joining the delegation to Dublin.
It wasn't presented as an assertion, either in the article or in the OP. It was presented as what it was, a top economist who used to work in the IMF stating that he believes, on the basis of his own experience and of his incredulity at the sudden jump in exposure declared since the stress tests, that there will be significant fraud and corruption uncovered.

Given what we have already learned about the banks' behaviour, and what we have learned about how much ethics mattered to the people running the country (Ahern appointed Lawlor head of the Dáil Ethics Committee), I'd say it's not an uneducated guess...
 

slx

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Of course they'll unveil significant corruption.
We *all* know roughly what it will reveal...

The question is will the legal system be able to do anything about it, or will it put all its efforts, as usual, into going after TV license evaders and other dastardly criminals such as malparkage offenders! ?
 

Superindigoman

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Good but the same needs to be done to FF, if you think the banks were corrupt my god just wait for what they will find with the government.
 


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