IMF’s Chopra: bailout was harsher than necessary
ECB put its own balance sheet ahead of Irish taxpayers. Central Bank and Commission were ‘novices’
Ireland’s bailout programme was faster and harsher than was necessary, with the European Central Bank and European Commission’s “novice” status affecting their outlook, according to Ajai Chopra.
Chopra, the high-ranking IMF official who oversaw Ireland’s three-year bailout plan, also said that the interests of the ECB were put ahead of those of Irish taxpayers.
“What we were surprised by was they were putting euro-area concerns, including the ECB’s penchant to protect its own ...
