Thursday, 26 February 2009

As obsolete as...?

Doing my usual reading of my paper from the back business pages first - it's the only way to really understand the world - I came across a small bit about the way the economic crisis has hit Eastern Europe who were already up to their eyes in debt badly.

Our old friends the IMF as outlined in Naomi Klein's Shock Doctrine have got their claws into Hungary and Latvia and are eyeing up Serbia, Agencies are giving Latvia a junk rating for credit which is almost unheard of for a country. My pals Wullie and Jo were recently there and said that heavily armed cops were very visible. No wonder - there were riots in January not really reported anywhere but see here:

This has resulted in the PM resigning last week - surprisingly because the IMF told him to cut public expenditure and raise taxes. The IMF are still circling though so whoever wins an election if it is called expect them to be told what policies they have to implement whatever their policies were.

And yes I know that the photo is EMF but in my defence it is unbelievable....

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