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2010-07-12 — ft.com
``... the énarque wants authority without legislative oversight, all in the public interest, of course. A current term for this in IMF-speak is “automaticityâ€. As far as I can tell, with the limited understanding of a non-énarque, it means that when trillions of euros, dollars, or IMF Special Drawing Rights are needed to avert or stop an international crisis, no votes are required in Congress or the Bundestag... when the next crisis comes, the IMF’s contingency plans will almost certainly have been pre-approved, and quickly put into effect. ''
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Comments:
catherine at 03:02 2010-07-13 said:
while the IMF has been telling us to quit spending in OUR COUNTRY...........they can force us at any minute to pay 17% of any money they deem needs to be spent............a horror for us with Europe burning down........... '''Each member has a "quota"—that is, a financial stake in the IMF, expressed as a percentage—and contributes accordingly. The U.S. quota is 17.09%, followed by Japan at 6.12%, Germany at 5.98% and France and Britain at 4.94% each.'''' http://online.wsj.com/article/SB10001424052748704866204575224421086866944.html CURIOUS, WHAT DOES EUROPE PAY FOR OUR BAILOUTS for us?????? Permalinkadd a comment | go to forum thread
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