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Dude, If things get that bad, we'll already have lost 100s of billions and have other things to worry about besides Europe and the IMF. Don't forget how exposed we are thru GIC and Temasek alone! I don't think anyone will be answering the phone when the IMF calls for more $. They'll all...

Dear FS, Yes, the IMF is cooperative and it's job is fire fighting (macroeconomics) That's why members don't INVEST money in the Fund because it's not a bank or other investment vehicle I mean which idiot wants to invest in a fire fighter who doesn't get paid to risk life and limb???? Members...

Dear GMS, 1. You have raised instances of the IMF forgiving debtors. 2. But You haven't shown us when the IMF ever faced bankruptcy risk through these debt defaults. 3. You also haven't shown us when a member country had to write off monies loaned to the IMF because of the Fund's...

That sums up the whole discussion here!

1 more point to add You might also consider whether one is being 4 billion wise and 100+billion foolish by choosing not to join a global effort to avert a financial disaster

Any amount of money earned through the efforts of Singaporeans is not trivial But you need to gain a sense of proportion too! 4 billion USD in the business of international exchange rate management is literally "peanuts" That's the point made

I have to agree that the man clings very tightly to his views (despite the facts) But, he's entitled to his point of view

We were trying to save Suharto and our cronies (vested interests) Was there really a need for blood money when the mafia boss was on his knees? Was that decision really S'pore 1st or certain S'porean interests 1st? I really wonder (till this day) I had somewhat of a first hand view of that...

Dear GMS, How do you go bankrupt when you lend out less than you have on hand? Even if no one repays you! 1) What IMF loans? It's the ECB and Europe's banks that have loaned the most! 2) The IMF doesn't need to borrow from S'pore etc because they need to cover losses in Europe (they...

Having to borrow from the IMF is a very unpleasant experience Trying to get it written off is even worse There really is little Moral Hazard because these countries get into very desperate situations before agreeing to IMF terms The debt write offs are appropriate because the countries have...

CSM unlike KJ, knows how to read and interpret Constitutional law At the very least, CSM knows how to keep quiet and seek advice (if he is unsure) because Constitutional Law is a minefield for the novice CSM unlike KJ is a sitting MP and has a lot more to lose than some one on the sidelines...

Yes, the euro crisis, if not managed properly will make the 2007/8 crisis look like a picnic These guys are borrowing money now to pay the interest on their debt, not even talking about the principal That's why it's in S'pore's interest to play a part in shoring up confidence in the...

I've got a real problem with that Pledge to Suharto (10 billion if I recall correctly) Malaysia made a similar pledge to the tune of 1 billion (I think) There was a nagging feeling that we were bailing out SUHARTO and not just Indonesia All this time, there was an IMF loan simultaneously being...

Yes Indeed Sad isn't it

Been thinking of what has been written so far I would have liked a referendum on the casino issue It is a fundamental shift for Singapore

Actually it's too cheem for most Singaporeans (as politicians are guided by what the masses want) But you can try the SDP who seem to champion non-populist ideas

Correct! But let's remember that Tony is a temp worker (expensive one) I'm sure Tony will have some serious personal issue that requires an early resignation, should he ever get too troublesome.

That settles the issue, no referendum abt the IMF pledge While I am not a supporter of governing by referendum, I do support your right to a point of view. So, a political party can champion your idea?

BUT not good to know that the same mechanism (that allowed the pledge) still exists

Well, people get the govt they voted for!