The Egyptian Revolution and Neo-Liberal Economics [New]
Last April Emocrat posted an excellent diary about the revolution against neo-liberalism in Egypt. Here’s an update from The Real News Network:
If you like to read the transcript click the real news link:
Since early 2012, international financial institutions have been negotiating loans for what they say will help rebuild Egypt’s ailing economy. The European Bank for Reconstruction and Development, [also called the EBRD], is awaiting approval from its shareholders to provide $1.5bn in annual loans to Egypt. This will be the first time since its establishment that the EBRD has lent to the Middle East. On February 2012, the EBRD published its technical assessment of the country, recommending the continuation of more than 20 years of privatization policies.
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What Do You Think?
One Response to 'The Egyptian Revolution and Neo-Liberal Economics'
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Emocrat [New]
Tuesday, 8 May, 2012 at 8:46 pm
First off, thanks for that shout out. ;^)
Second, great piece. Both the main interviewees were rather excellent. I can’t help but think it’s only a matter of a few (or more) years until Americans finally start seeing just how corrosive corruption is to society.
True to form, those “loans” from the Euros will simply be another looting operation. If the Egyptian currency is any good, they could just print up more money to start building stuff and get their economy on its feet.
But no, they have to sell their nation’s soul to the EU banksters instead. How sad.
I wish their organizing efforts well. And it’s true, during the final days of the occupation, the workers were the ones that tipped the scales. I wouldn’t mind seeing a repeat.