Voodoo

" IMF Suddenly Decides It Might be OK to Loosen Austerity Tourniquets Now that Gangrene is Setting In.

 

While deathbed conversions might earn you a spot in heaven in some religions, they don’t carry you very far here on Planet Earth.

 

Christine Lagrade has taken too small a step in the right direction far too late to do much good. At the current IMF annual meeting in Tokyo, she’s made dramatic-sounding pronouncements consistent with the rather embarrassing admission in the Fund’s latest quarterly report that austerity is working less well than voodoo (I’ve never tried it myself, but some correspondents give it high marks). ...

 

While the Eurocrats have, again and again, managed to implement the bare minimum needed to stave off a full bore crisis, each intervention is buying less and less relief and the differences in underlying positions appear to be hardening. While I’d be delighted to be proven wrong, Yanis Varoufakis has said the Eurozone is on a path to dissolution, and it’s hard to see how the politics can shift enough to alter the current trajectory. " 

I was quite surprised by madame Lagarde's apparent change of mind. Maybe she has been traveling to Damascus ?