The report said the whole approach to the eurozone was characterised by “groupthink” and intellectual capture. They had no fall-back plans on how to tackle a systemic crisis in the eurozone – or how to deal with the politics of a multinational currency union – because they had ruled out any possibility that it could happen.…Same story the US with the lead to the 2008 financial crisis. The FBI had warned of massive fraud in the mortgage market in December, 2004.
Impossible to write this off to sheer ignorance. Too much money was made for it to have been completely accidental.
IMF admits disastrous love affair with the euro, apologises for the immolation of Greece