Higher “achievements” by Troika's joined forces

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Back in the late 90s and the Asian crisis, IMF policies managed to destroy the economies of several countries in SE Asia:

“In each case, embarrassed by the failure of its supposed medicine to work, the IMF charged the country with failing to take the necessary reforms seriously. In each case, it announced to the world that there were fundamental problems that had to be addressed before a true recovery could take place. Doing so was like crying fire in a crowded theater: investors, more convinced by the diagnosis of the problems than by the prescriptions, fled. Rather than restoring confidence that would lead to an inflow of capital into the country, IMF criticism exacerbated the stampede of capital out. Because of this, and the other reasons to which I turn shortly, the perception throughout much of the developing world, one I share, is that the IMF itself had become a part of the countries' problem rather than part of the solution.”


“In 1998, GDP in Indonesia fell by 13.1 percent, in Korea by 6.7 percent, and in Thailand by 10.8 percent. Three years after the crisis, Indonesia's GDP was still 7.5 percent below that before the crisis, Thailand's 2.3 percent lower.”


From Joseph Stiglitz's : "Globalization and Its Discontents"


http://digamo.free.fr/stig2002.pdf


Today, Troika's joined forces in Greece represent a more "successful story": In just three years, between 2010 and 2013, the GDP of the country shrank by 25%, not to mention the unprecedented poverty and unemployment. (http://failedevolution.blogspot.gr/2013/05/three-years-of-austerity-zero-in.html) So, the joined forces of the European Commission, European Central Bank and International Monetary Fund present better "achievements" than IMF by itself.


What's remarkable, however, is the mixed communicative policies of this powerful, destructive coalition. While Greece was blamed several times that does not take all the necessary reforms, which is an IMF tactic to blame the countries rather than its catastrophic recipes, Troika decided to "reward" its faithful Greek government by "signaling" to the markets to buy Greek bonds: "How else could we explain the fact that Moody's has chosen this moment of time to upgrade Greek bonds, when the condition of the Greek economy, according to the data, is much worse than 2010 when Greece was excluded from markets? When there is not even the slightest sign for the 'coming recovery'?" (http://failedevolution.blogspot.gr/2014/08/a-new-message-from-international.html)


Of course nothing has changed and the Greek economy is in the worst position than ever. Both policies show that Troika is in constant denial, in fact it doesn't care about any improvement for the Greek economy. What it wants, is to help current government to stay in power until 2016, so that to finish the experiment.



ΠΗΓΗ
ΔΙΑΜΟΡΦΩΣΗ/ΦΩΤΟ:Α.Τ.


ΤΟ Δ.Ν.Τ. βρίσκεται στη Γουατεμάλα από το 1984. Τα τελευταία χρόνια η χώρα εμφανίζει εντυπωσιακή οικονομική ανάπτυξη που θα ζήλευαν πολλά ανεπτυγμένα κράτη. Ο μέσος όρος αγγίζει το 4%! Ωστόσο, την ίδια στιγμή, το 1 στα 2 παιδιά κάτω των 5 ετών πεθαίνουν από την πείνα και τον υποσιτισμό.

Ένα ντοκιμαντέρ συγκλονιστικών αντιφάσεων, όπου τα υπέροχα οικονομικά στοιχεία δεν έχουν καμία σχέση με την πραγματική. ζωή.