IMF Bazooka Is Between Meaningless and Dangerous: Simon Johnson

Dec. 19 (Bloomberg) -- Financial rescue plans for Europe are becoming ever more fanciful. Increasingly, policy analysts in Europe and the U.S. turn to the International Monetary Fund to provide what is termed “the bazooka” -- meaning a lot of money underpinning a scaled-up bailout for Italy, other troubled countries and, of course, Europe’s failing banks.

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