Friday 13 May 2016

EU REFERENDUM : LAGARDE HAS HER TURN.

Following Mark Carney's comments yesterday, today it's been the turn of another Europhile mate of Cameron and Osborne to tell us how terrible a vote to leave the EU would be. Christine Lagarde, hardly an impartial commentator though head of the International Monetary Fund, has stuck her neck out at the behest of the 'Remain' campaign and done her best to support it.

However, as with Carney's statements, Lagarde has qualified her remarks with 'could', saying that Brexit "could lead to technical recession". She was rather more definite than Carney and did say that a vote to leave would have "pretty bad to very, very bad consequences" but, in reality, all she's actually done is to reiterate the now rather tired mantra of the 'Remain' campaign. Flanked by her pal, Europhile George Osborne, she added that she had "not seen anything that's positive" about Brexit which, in political speak, actually means that she's avoided looking at anything which doesn't support her own view of things. Exactly like Carney's comments of yesterday, Lagarde has apparently made a damning critique of Brexit while also covering her back in the event of her being wrong.

Those campaigning for a 'Leave' vote have immediately made the obvious riposte that the IMF has been wrong before and it's wrong now. In truth, the IMF's record of forecasting has frequently been wrong, sometimes woefully so, and it has been wrong in most of its recent forecasts regarding the UK's economy. Nonetheless, it seems that Lagarde will have yet another go at frightening the UK electorate just before the referendum and will no doubt make similarly sounding, but in truth highly guarded, remarks.

The question remains about the appropriateness of organisations such as the IMF and other foreign dignitaries and officials interfering in what is an internal matter for the UK. In the case of Mme. Lagarde, her own nationality, past history and impartiality must all be added to the mix. For UK voters, her views must be seen as highly suspect and they should not be deterred. VOTE LEAVE.

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