Strauss Kahn Is Guilty Of Everything

Poor Dominique.  Such poor judgement.

Who knows if he did anything untoward with a chambermaid in New York?  Such honeytrap ‘stings’ are very easy to set up.  There is evidence that such tactics were going to be used against him, with scurrilous reporting about his antics with women appearing in the French media, even before this week’s latest ‘events’.

Strauss Kahn was certainly a fan of Gaddafi which would not be helping his position with various security services and military intelligence bureaux.  But was his greatest crime, neither sexual, nor having a liking for the other side in a palpably unjust war, but something else altogether, namedly the forcing through of the Euro?   This is what is implied in John Redwood’s post this morning –

Mr Strauss Kahn is innocent of the criminal charges brought  unless and  until proven guilty. It is nonetheless interesting to hear how much the EU and some left of centre broadcasters are said to be missing him and how kind they are about him. As he was one of the leading architects of the Euro bail outs so far, I think he has a lot to answer for regardless of the US criminal case which now envelops him.

           It is people like Mr Strauss Kahn who perpetuate the myth that there is an easy way out of the problems heavily indebted Euro members find themselves in. Is it caring to offer the overborrowed nations more borrowings they cannot afford on easier terms? Is it caring to peldge more of the IMF’s money, usually reserved for  the world’s poorer countries, to help rich countries that have embroiled themselves in a common currency scheme that does not work?  

If Mr Struss Kahn is such a financial genius, why couldn’t he see in advance that the Euro had no system for controlling excessive deficits, did not have sufficient transfer payments around the union, and had  no agreed system for deciding how to manage bond rates and money printing in a  way which was good for all parts  of the currency union?

            All the current troubles of the Euro were easy to forecast, and some of us did so more than ten years ago. Then people like Mr Strauss Kahn drove this political project through against the wishes of many of the people of Western Europe and against the advice of people who understood markets and had studied the break up of past currency unions that did not have a single country behind them.

Mr Strauss Kahn’s greater crimes might indeed, not be sexual or political at all, but monetary.  As the euro heads for the precipice, maybe he’ll now do for the fall guy, leaving others equally guilty, free to hide their share of the guilt.  It all seems rather unfair but bureaucracies need scapegoats.  DSK looks like being a great one from hereon.  Sarkozy can emerge smelling of roses, fertilised with the well-rotted down manure of his rival’s scandals.  The power to control the media, as usual, is all.  

Open Europe –

Following the arrest of IMF Chief Dominique Strauss-Kahn, EUobserver reports that Germany is pushing for the IMF chairmanship to remain in European hands. German Chancellor Angela Merkel is quoted saying: “I think that in the current situation, when we have a lot of discussions about the euro, Europe has good candidates to offer.” Merkel’s statements have been criticised by Luxembourg’s Prime Minister Jean-Claude Juncker, who said: “As long as [Strauss-Kahn] has not stepped down – and I’m not suggesting he should – I don’t want to comment on it. I think it’s indecent that some governments already started this morning that debate.” Several candidates have already been put forward as Strauss-Kahn’s possible successor, including former German Finance Minister Peer Steinbrück, Poland’s Central Bank Governor Marek Belka and French Economy Minister Christine Lagarde.  
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