Merkel Maligned IMF Board Attacks Euro Crisis Management

The EU's bailout of Cyprus has elicited unusually frank and vehement criticism from the finance experts grouped in the IMF's Executive Board. Their damning indictment at an IMF meeting in May reflects global skepticism, especially in emerging economies, about the euro zone's crisis management. 
IMF Managing Director Christine Lagarde (L) confers with German Finance Minister Wolfgang Schäuble during an IMF meeting in April.

IMF Managing Director Christine Lagarde (L) confers with German Finance Minister Wolfgang Schäuble during an IMF meeting in April.

Foto: JONATHAN ERNST/ REUTERS
Translated from the German by Christopher Sultan