Talking about FT.com / Europe – IMF admits failings in predicting Irish crisis

 

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FT.com / Europe – IMF admits failings in predicting Irish crisis

The International Monetary Fund has conceded it could have done better in predicting Ireland’s property and banking crash that led to in Sunday’s announcement of a €85bn bail-out by the fund and Ireland’s European partners. Ajai Chopra, deputy director of the IMF’s European department, who leads the mission to Ireland, said in an interview with the Financial Times: “There is no question that we – and other observers – could have done better. But it’s very much a balancing act. We have to be careful that we don’t end up predicting nine of the next two crises, or that we precipitate what we’re trying to avoid.” The fund has been thrust centre stage by the eurozone sovereign debt crisis, and in the process rediscovered its role as the world’s economic troubleshooter.

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