EU Economics

IMF ‘clowns’ urged to QUIT over disastrous report shaming euro-love and bailout failures

TOP BRASS at the International Monetary Fund (IMF) have been blasted as “clowns” and urged to step down after the publication of a damning watchdog report.

GETTY    Poul Thomsen and Christine Lagarde have been urged to step down from the IMF

The highly-damaging report released by the Independent Evaluation Office (IEO) slammed the financial authority’s “culture of complacency” and also revealed jarring divisions within the financial organisation.

The report criticised its handling of the Greek, Irish and Portuguese bailouts, as well as its cheerleading of the Euro. Several important documents had mysteriously gone missing during the IEO’s investigation, claim watchdog officials.

Now, economists and politicians are calling for those leading the IMF to resign – or even be sacked.

Economist Yanis Varoufakis, the former Greece minister of finance, said: “Time to demand the immediate firing of Poul Thomsen. No ifs. No buts. Exit stage left.”

Twitter users also described Thomsen, the head of IMF’s European department, as “incompetent” and “crooked”.

UKIP MP Douglas Carswell urged Prime Minister Theresa May and her cabinet to root out the leaders of the IMF for the group’s own good.

He Tweeted: “Experts, eh? The IMF is run by clowns. UK govt must push to clear out top IMF management asap.”


GETTY    Christine Lagarde campaigned against Brexit

Thomsen, a Danish economist who was promoted to his lofty position last year, rebuffed Greek requests for kinder bailout deals and is now nicknamed the “most hated man in Greece”.

In 2013 he was attacked by a man throwing coins and is now forced to be accompanied by a 24-hour bodyguard, on the recommendation of Greek police.

IMF managing director Christine Lagarde has also become a figure of scorn across Europe – particularly among Brexit supporters due to her repeated scare-mongering prior to last month’s European Union (EU) referendum.


GETTY    The IMF has come under fire for a damning watchdog report

She urged British voters to vote to remain in the EU, warning: “I certainly hope that from our neutral position we can at least shed some light on the economic value of one choice or the other.

“We have reached our determination and certainly concluded that the economic risks of leaving are firmly to the downside.”


GETTY    Poul Thomsen has been urged to step down following the publication of the report

After the historic 52 to 48 per cent vote to leave the 28-country bloc, a humbled Lagarde conceded: “We take note of the decision by the people of the United Kingdom.

“We urge the authorities in the UK and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the UK and the EU.”

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