The Bourbons of Global Finance
At a time when rich countries like the US are running deficits of 12% of GDP because of the global financial meltdown, the IMF is telling countries like Latvia and Ukraine that they must balance their budgets if they want aid. Such hypocrisy would be laughable if it were not so dangerous.
https://prosyn.org/o5I42p4
ANN ARBOR, MICHIGAN – Today’s International Monetary Fund (and, to a lesser degree, the World Bank) recall Talleyrand’s description of France’s Bourbon kings: it has learned nothing and forgotten nothing. At a time when rich countries like the United States are running deficits of 12% of GDP because of the global financial meltdown, the IMF has been telling countries like Latvia and Ukraine, which did not start the crisis but have turned to the Fund to help combat it, that they must balance their budgets if they want aid.