Ireland & The IMF; A Page from Confession of an Economic Hit Man

Ireland and the EU will paint this as not a bailout but a loan for the banking sector of Ireland. The Irish government has been saying for the past 2 weeks that it has enough funds to last them to mid 2011, so why are they being forced to take a loan from the IMF? To save the banks, yes but no. The loan will go a long way to save the banks but the real reason for the loan is to make sure that Ireland doesn't leave the EU or the Euro by indenture. This is exactly how the IMF operates, it loans countries large funds that they can't ever payback and when they default on the loans they expropriate the countries prime assets. They have done this through out Africa, South America, and Central America, just to name a few. John Perkins, chronicled this exact activity in his book Confessions of an Economic Hit Man while he work for a quasi IMF institution.

In this article from the Telegraph, the ECB forces Ireland, and other nations into the web of the EU and IMF by warning that it intends to raise interest rates and withdraw lending support for banks despite the eurozone debt crisis, even if this risks pushing Ireland, Portugal and Spain into deeper trouble.

In this other Telegraph article, Ireland's opposition leader, Enda Kenny, shows that he really understands what is happening when he accuses the Irish premier, Brian Cowen, of raising the "white flag" and subjecting the country to the "dictates" of foreign masters.