Warning over IMF intervention

THE International Monetary Fund will be asked to run the Irish economy unless there is a major change in Government policy, according to the Professor of Banking and Finance at the Michael Smurfit Graduate School of Business Ray Kinsella.

Mr Kinsella told the Irish Examiner that control over our own national destiny – over the rebuilding of our economy – is slipping out of our hands.

“On present trends and in the absence of a transformational change policy, the IMF will be called upon to intervene with its own particular brand of orthodoxy. We should no longer be surprised at this clear and imminent possibility: the IMF is now an integral part of the EU’s adjustment and financing system. It is no longer the case of speculating over whether Ireland will be impacted by a sovereign debt crisis; it is already a promise.