Fund forced to deny it is poised to take economic control
Just a day after an Oireachtas committee complained Ireland now had the reputation as the “wild west” of European capitalism because of the failure in regulating the country’s banking system, the IMF move dealt another blow to global confidence in the Republic’s financial future.
The IMF, which has moved in to bail out failed economies across the Third World in the past, was forced to issue the denial after RTÉ reported Taoiseach Brian Cowen had “confirmed” the organisation may intervene to take charge of Ireland’s problems.
