Remember Ajai Chopra’s Sad-Eyed, Large-Loafered Friend?

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When the IMF came to town last year he became – with his boss Ajai – as familiar to Dubliners as their Ma’s coddle. His lonely eyes and massive shoes signalled the arrival of a new kind of austerity to these shores.

Now economist Ashoka Mody, in a new study, blames the decision by Brian Lenihan and Brian Cowen (with a little help from one Kevin Cardiff) to nationalise Anglo irish Bank as the event that ‘triggered” the global financial crisis.

Oh yes.

In The Eurozone Crisis: How Banks and Sovereigns Came to be Joined at the Hip, Ashoka (with fellow IMF economist Sandri Damiano) writes:

And the cause?

The rest you know.

Decision To Nationalise Anglo Irish ‘Triggered Euro Crisis’ (Thomas Molloy, irish Independent)

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