Simon Johnson: Lagarde at the Head of the IMF Means Another Trillion in Loans to the PIIGS

As I have pointed out, the lead candidate to replace Dominique Strauss-Kahn as head of the IMF, Christine Lagarde, is a total insider, hardline bankster. She will protect every pound of flesh owed to the banksters.

Simon Johnson explains what this means:

If Ms. Lagarde becomes head of the IMF, she will most likely continue to throw loans at the eurozone problems – if there are even preventive programs for Spain, Italy, or Belgium, the IMF will need to tap its shareholders for at least another $1 trillion in credit lines.


Ms. Lagarde personifies the strategy of gambling for eurozone resurrection with other people’s money. Why would taxpayers in US and elsewhere want to support her on this basis?

Why, indeed? If taxpayers understood her position, they would be calling for her to be confined with DSK. Lagarde, pure and simple, is the banksters choice.