IMF admits disastrous love affair with the euro and apologises for the immolation of Greece
In an astonishing admission, the report said its own investigators were unable to obtain key records or penetrate the activities of secretive "ad-hoc task forces". Mrs Lagarde herself is not accused of obstruction.
"Many documents were prepared outside the regular established channels; written documentation on some sensitive matters could not be located. The IEO in some instances has not been able to determine who made certain decisions or what information was available, nor has it been able to assess the relative roles of management and staff," it said.
The report said the whole approach to the eurozone was characterised by "groupthink" and intellectual capture. They had no fall-back plans on how to tackle a systemic crisis in the eurozone “ or how to deal with the politics of a multinational currency union“ because they had ruled out any possibility that it could happen.
"Before the launch of the euro, the IMF´s public statements tended to emphasise the advantages of the common currency," it said. Some staff members warned that the design of the euro was fundamentally flawed but they were overruled >
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