Weekend Economists: "So much to do, so little done, such things to be." April 20-22, 2012

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53. Chopra says IMF is pushing for more European support for Irish recovery

http://www.irishtimes.com/newspaper/finance/2012/0421/1224315008600.html

THE HEAD of the International Monetary Fund mission to Ireland, Ajai Chopra, has said his team has been pushing for Ireland to receive “additional European support that goes beyond the current set-up”.

Mr Chopra also repeated a call made by IMF managing director Christine Lagarde for Europe’s bailout structures to be changed so that they can “bypass sovereigns” and take direct stakes in struggling financial institutions, adding that it “could make a world of difference”.

Asked if this meant there was disagreement among the members of the so-called troika on how to deal with Ireland, Mr Chopra said the IMF did not want to be “too prescriptive” in telling the European Central Bank and the European Commission what to do.

“Europe has its own decision-making process. I think they’re aware of the issues,” he said.