I am fed up with hearing that the world will sadly miss Mr Strauss Kahn, and his economic genius. His supporters in the IMF job say he was so good at brokering a deal to “save” Greece, and was much needed to do the same for Portugal.
The truth is the first Greek deal did not work. It had to be renegotiated six moths later, and now renegotiated again. It is not working for Greece, Euroland or the rest of the EU. The IMF needs to ask itself how it can help countries that are locked into a single currency at the wrong rate for them, with economies that are not working harmoniously with the larger economies at the centre of the currency zone. Mr Strauss Kahn’s policy isn’t working and cannot work. It does not take an economic genius to lend more of other people’s money in the hope that the underlying problems will solve themselves.