Comments on: The IMF Should Move To Europe

By: el

el — Mon, 28 Sep 2009 16:59:25 +0000

btw: one of the recent IMf MDs was a German.

By: Per Kurowski

Per Kurowski — Sun, 27 Sep 2009 14:28:09 +0000

From the perspective of what the world really needs in order to confront global and local problems any IMF reform, to really mean anything, must mean much more than a simple reshuffling of the deck of the small very local pieces of land based representation at the board. Wasting time in that is an excuse for all those who have no idea what other things they could be discussing without looking like fools.

Europe! Hah! Aren’t they worlds apart? http://bit.ly/2U25yE

On September 17 in the Financial Times ,Bernard Kouchner, the French minister of foreign affairs in “A tax on finance to help the world´s poor” proposed a tax on financial transactions of 0.005 percent and that would “raise €30bn”.

But on September 25 also in the Financial Times, Peer SteinBrück, the German finance minister, in “A tax on trading to share the costs of the crisis”, September 25, proposes a tax on financial transactions of 0.05 percent that could “yield up to $690bn a year.

By: God of Finanace

God of Finanace — Sat, 26 Sep 2009 15:43:16 +0000

Sir, is there already a perfect solution? The US, African, Asian, and Latin American countries shall withdraw from the IMF, which will then be composed of all European countries where it is supposed to have the most relevance. The president and headquarters of the IMF will naturally be European. The others can set up, let’s say, the World Monetory Organization, or the WMO with headquaters somewhere in the middle of the pacific, alas, Hawaii. Everybody will be so happy!

By: tippygolden

tippygolden — Sat, 26 Sep 2009 15:29:39 +0000

Interesting post. I suppose if Europe and the “emerging markets” created their own bank of last resorts, the United States could focus on repairing its own fiscal house. And where would Canada and Australia fit into a reorganized IMF?

By: tippygolden

tippygolden — Sat, 26 Sep 2009 13:31:45 +0000

I thought the EU was created because:

(1) idealists like Jean Monet wanted to intregrate the European economy because they thought it would prevent another WWI or WWII

(2) a European union would be a politcal/economic/cultural “counter weight” to American power

By: Uncle Billy vs. Mont Pelerin

Uncle Billy vs. Mont Pelerin — Sat, 26 Sep 2009 10:38:12 +0000

This is too funny (well at 3:00 in the morning anyway)…

From the SEC Division of Market Regulation:
Advisory Committee on Market Information:
Minutes of July 19, 2001 Meeting

Simon Johnson, Bernie Madoff, a bunch of other concerned citizens, some dude from SAIC(???) and my high school debate partner. All in the same room, all sounding very serious about “information.”

http://www.sec.gov/divisions/marketreg/marketinfo/071901mtg.htm

By: Ted K

Ted K — Sat, 26 Sep 2009 06:51:35 +0000

Apparently I made a mistake with the Part 3 link of Netanyahu’s Speech above. Sorry for that. This is the Part 3 link

By: Ted K

Ted K — Sat, 26 Sep 2009 06:48:09 +0000

One of the reasons I love this site “baseline” is that generally James Kwak and Simon Johnson try not to get political. Of course when you talk about Economics and finance and many other topics, it would inevitably cross over to politics. This isn’t directly related to the G-20, and maybe getting legitimate and effectual bank regulations is enough challenge for this site……..BUT I hope James and Simon would allow this Netanyahu Speech given Sept. 24, 2009 as a kind of public service, to make people aware.
PART 1

PART 2

PART 3
http://www.youtube.com/watch?
v=3gkjEUjK4as&feature=related
PART 4

By: Ted K

Ted K — Fri, 25 Sep 2009 21:34:28 +0000

Wow, Simon, you’ve really gone too far this time–tsk, tsk. Suggesting that China should show some initiative and set up a fund with other Asian countries. China?? Investing in their own country and investing in their own region?? Don’t you think the Chinese government is much better mentally equipped at crying and sobbing they weren’t invited to the party??? tsk–tsk

By: Patrice Ayme

Patrice Ayme — Fri, 25 Sep 2009 21:28:13 +0000

tippygolden:

I know Monet is one of the “fathers of Europe”, but i can’t remember what he did at this point… It will come back to me sometimes…

In my version of history, unusual viewpoints are often given great weight. For example even the pathetic Nazi apocalypse played a role in European unification: after they got their big kick, and occupied France, German fascists, to their dismay, found that if France did not exist, they had to re-invent her. Because they could not do without.

And the Nazis found that the Brits were the master race, so they may as well join them too… And so on… It did not escape the hard core French haters in Germany that it is French speaking SS who defended Hitler to the bitter end. 400 hundred of them.

Bizarrely, the rational conclusion of the insane Reich was that a free and cooperative Europa was a necessity for Germania. One of the last flight of a Swastika plane, on May 2, 1945, after Hitler’s death, carried the ex French Premier, Laval, from Austria to Spain…

Such are the deepest currents of the systems of thought. Relative to this, men such as Monet, although estimable, are less significant.

More unusual, but fecund and real history on my site: http://patriceayme.wordpress.com/

By: Patrice Ayme

Patrice Ayme — Fri, 25 Sep 2009 21:12:47 +0000

Indeed, especially since Frankfurt already has the ECB… Moreover Paris is one the three largest cities in Europe (with irrelevant-for-this-purpose Moscow), and one of those few cities that can be viewed as world capitals…

By: Ted K

Ted K — Fri, 25 Sep 2009 20:53:45 +0000

Nemo, you make some very observant and keen comments on finance and economics. As far as the above question, better leave the “what ifs” and geopolitical questions to others.

By: Peter T

Peter T — Fri, 25 Sep 2009 18:11:17 +0000

The UK is not part of the Euro, and its finance industry, concentrated in London, is already too big in Europe: London is a NOT a suitable place for the IMF. Paris, within Euroland, seems to be a much better choice.

By: tippygolden

tippygolden — Fri, 25 Sep 2009 15:31:07 +0000

Patrice A.

So where does Jean Monet who is considered one of the founders of the European Union fit into your history.

By: Dominic J

Dominic J — Fri, 25 Sep 2009 15:29:19 +0000

London or Paris, but not Frankfurt?

I can see why Frace or Britain might want to host the body, in exchange for their individual membership, but neither can expect to lead it forever, so you can’t compensate both that way.

Imagine the press coverage here in the UK if, in the face of massive deficits, the government brought in the IMF, literally.