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Understanding IMF Loans

19 Dec

Confusing, this euro malarky ….. let’s see if I’ve got it right:

Even though the UK is not part of the euro and has been sneered at remorselessly for the last decade for this – having predicted correctly (shhhh………) that it couldn’t work – the UK is now supposed to lend billions of money it hasn’t got (and therefore must borrow from somewhere) to the IMF which will lend it to countries on the brink of bankruptcy thanks to their own lies, folly and theft.

This loan of billions is apparently required by the EU even though – according to the financial geniuses running France – Britain itself is a basket case and should be derated by the ratings agencies, whose evaluations are, however, a CIA plot and not worth the paper they are written on especially when referring to France. (Ratings are only designed for little countries anyway, not those like France.)

This billions-of-euros loan of non-existent money is because:

A) it is morally right to assist people to recover even from their own greed, folly and lies and we all believe in the Good Samaritan and even in the Bad Samaritan who fully deserves a good pasting

B) if they don’t they will default and French banks will go tits up

A) is the principal reason trumpeted by the EU “We’re all in this together – if Europe fails, then we – sorry you – fail.”, whereas B) is the real reason, as French IMF Director and previously Chief (Didn’t-she-do-well!!) Mess-upper of the French Finances Christine Lagarde will confirm, but only with a good dose of sodium pentathol or whatever it is.

This fatuous passing of non-existent money from the pretend-we’re-not-bankrupt to the bleedin’-obviously-pretence-is-now-pointless-truly-bankrupt is principally designed to protect French banks but also give Snarlkozy some faint hope of hanging onto the French Presidency.

OH, anyone objecting to this shoddy and futile attempt to deny reality and let Greece leave the euro – which it should never have been in in the first place (its current PM imposed by the EU when the former PM threatened to ask the people is the former Bank of Greece Director responsible for preparing Greece’s statistical lies cobled up to gain entry into the euro) – is a eurosceptic two-headed monster from a small group of out-of-touch backwoods toffs spitting rage and xenophobic little-Englanderism. (This last bit is from the “Lib-Dems’ Idiots’ Guide to Politics.”)

AND: this policy MUST be right on a Catch 22 basis since it is opposed by the Mayor of London. This means of evaluating policies is handy for Labour as it avoids them having to think.

Have I got that about right?

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Posted by on December 19, 2011 in European Union

 

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