As we enter the new year, I can't help but think of what's in store for poor old Greece in 2011 (and beyond)? In relation to the IMF, paraphrasing Chomsky probably sums it up best;
Under the rules of our western run world economy, investors make loans to third world tyrannies, and since the loans carry considerable risk, usually make high profits. But when the borrower defaults -in a capitalist economy the lenders would incur the loss - but existing "capitalism" really functions quite differently. If the borrowers cannot pay debts, then the "benevolent" IMF steps in to guarantee that lenders and investors are protected. The debt is transferred to the poor population of the debtor country, who never borrowed the money in the first place. This method is apparently called "structural adjustment". The designers of the international economy demand that the poor accept market discipline, but they ensure that they themselves are protected from its ravages.........ominous signs for Greece me thinks?
But like a friend of mine says; "the IMF never helps, it's there to enslave, make profits through creating a crises in many countries and then purporting to be your friend. Look at it's aims and why it was formed. Nothing has changed over the years, just its focus on carousel countries . It's a money vampire, insatiable and like a junkie looking for it's next hit"
Sums it up nicely I reckon?
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