Has French President Macron Come To His Senses or Lost His Mind?

Has French President Macron Come To His Senses or Lost His Mind? by Rory – The Daily Coin

It may be time for French President Macron to have a little “Democracy” reign down or who is writing his speeches?

In a move similar to Iceland jailing banksters and reinstituting their local currency, Macron has stated that the European Union may be better off without interference from the International Monetary Fund (IMF) and should explore the idea of a European Monetary Fund!

Macron, citing the nightmare that is the Greek economy due to the IMF foisting billions of odious Euro debt upon the Greek people by way of the Greek government, Macron seems to think Europe may do well to try something different.

The EU and IMF took the wrong approach to Greece’s sovereign debt crisis and bailout, and the country’s creditors should lighten their demands, French President Emmanuel Macron said in Athens on Thursday.

Macron called for an ambitious reform of Eurozone institutions that would entail the creation of a new European Monetary Fund to handle similar problems in future. He said that the IMF, which participated in the Greek bailout due to pressure from Germany, “had no place in EU affairs.” Source

Create a “work-around” from the clutches of the IMF? As a former Rothschild banker it makes one wonder what Macron has up his sleeve or who is asking him to put this message in the public forum. Why would Macron suddenly awaken and go against the globalist bankster mafia fund known as the IMF?

It seems as if the IMF is on the verge of implosion with it’s indecision surrounding the Greek debt/loans and Macron is possibly using this situation to pivot towards the forming Eastern block in any of the solidifying alliances. BRICS, EAEU, BRI and SCO all come to mind and it is possible that Macron would actually like to see the people of France have a viable economy based on production and participation instead of an economy based on debt and overlords.

Prior to the onset of the Greek debt crisis in 2010, the IMF’s lending rules stipulated that it would only issue loans to countries which were able to repay their debts, and its resources were mainly used by smaller, developing economies. Unlike Greece, such economies have a local central bank to control monetary policy and have the option of devaluing their currency in order to boost exports and tourism.

However, fears in the EU that a default on Greek debt could spread panic throughout the Eurozone led European leaders, in particular German Chancellor Angela Merkel, to demand IMF involvement in the Greek bailout.

“Since Germany refused to assume the main financial risks by itself, the question arose, ‘would it not be better to turn to the IMF,’ which knows the problem well and knows how to improve the situation in the country.” Source

Something is definitely out of balance with Macron making these statements and, currently, we are left to speculate as to what is coming next or the real reason for this happening now. It may have to do with Germany being unable to support the entire European Union as they are unwilling to even help Greece.

“The main thing is that Germany is the main investor in Europe, the largest trading power, and the influence of bilateral exchanges between Germany and other European countries has to be taken into account. Germany realized that if it demanded money from Greece, it would not get it back.”

Going a little deeper:

The IMF therefore became part of Greece’s “Troika” of creditors, along with the European Commission and the European Central Bank. They have loaned Greece about 260 billion euros ($312.86 billion) since 2010, but the IMF has so far declined to take part in the third bailout for Greece unless European leaders commit to a formal restructuring of Greece’s debt.

“The IMF got involved in the Greek bailout “because they asked it for help. Currently, the IMF mainly helps developing countries which are in a difficult position. I don’t think this applies to Greece, which is the cradle of philosophy and democracy, as Mr. Macron recalled in Athens. I don’t think that it meets the criteria of countries that the IMF usually helps,” Bechade said. Source

The above is 100% nonsense and borderline a flat-out lie – as these criminals already knew BEFORE Greece joined the European Union the Greek economy was not a good fit and, therefore, crime syndicates like the IMF, rigged the Greek books to paint the appropriate picture to allow Greece to “join” the EU.

Greece sought to join the euro in May 1998 when the first 11 members were chosen, but did not qualify. But EU finance ministers now found it had cut inflation, public deficits and debts to within the limits of the so-called “convergence criteria” needed for membership of the single currency. However, at an annual rate of 2.6 percent, Greek inflation is still higher than in most other European countries, and the government in Athens pledged to restrain spending and work toward achieving a budget surplus next year. Greece’s economy still has a long way to go before it catches up with the rest of the community, where economic output per head is on average 30 percent higher. Source

Is the IMF completely broke? Has the Chinese funding of the IMF dried up and the debtor nations, like those in the European Union and U.S. unable to continue to support the IMF? Has the AIIB completely drained the IMF and now the curtain is being pulled back a little further?

We can’t help but speculate this is tied to Germany, Russian sanctions and the uprisings all across Europe. It just seems odd that someone with Macron’s background and current position would speak publicly against one of the globalist banks of debt and theft and ask – why?


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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.