By Mark Dow
The opinions expressed are his own.
European policymakers came to the IMF meetings in Washington in a defensive mode; some defiant, some with their tails between their legs. Once in Washington, it only got worse. Policymakers from around the world and investors of all stripes lined up to administer verbal beatings. Warnings of cascading default, global depression and bank runs echoed throughout the meeting rooms. Thankfully, by the weekend’s end, the message sank in, and Europe emerged with the beginnings of an agreed plan.