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Tag: International Monetary Fund


Colonization by Bankruptcy: High-Stakes Chess for Argentina

Territories were once captured by military might. Today they are annexed by debt. Destitute nations are driven into international bankruptcy courts that could do with whole countries what bankruptcy courts do with businesses: sell off their assets, including real estate. Sovereign territories could be acquired as the spoils of bankruptcy without a single shot being fired.

Posted on Aug 28, 2014 READ MORE



Cry for Argentina: Fiscal Mismanagement or Pillage?

Argentina has now taken the U.S. to The Hague for blocking the country’s 2005 settlement with the bulk of its creditors. The issue underscores the need for an international mechanism for nations to go bankrupt. Better yet would be a sustainable global monetary scheme that avoids the need for sovereign bankruptcy.

Posted on Aug 15, 2014 READ MORE



You Can’t Taper a Ponzi Scheme: Time to Reboot

The rules of money have been changed before and can be changed again. Depressions, credit crises and financial collapse are not acts of God but are induced by mechanical flaws or corruption in the financial system. Credit may stop flowing, but the workers, materials and markets are still there.

Posted on Jul 27, 2014 READ MORE


A Century of Collusion Between Washington and Finance

Former Wall Street executive, financial journalist and Truthdig contributor Nomi Prins tells “Democracy Now!” how a small number of bankers have played critical roles in shaping a century’s worth of financial, foreign and domestic policy in the United States, a series of events that she documents in her new book, “All the Presidents’ Bankers: The Hidden Alliances That Drive American Power.”

Posted on Apr 8, 2014 READ MORE



Iker Merodio (CC BY-ND 2.0)

Irish Compliance Yields Eurozone Bailout Exit

Three years after international lenders loaned Ireland $92.7 billion to recover from its part of the international economic crisis, the country is the first afflicted eurozone state to exit its rescue program.

Posted on Dec 14, 2013 READ MORE



acameronhuff (CC BY 2.0)

Financial Big Guns Aim at Fossil Fuels

The fossil fuel industry and its subsidies are targeted as world finance fires warning shots suggesting that sustainable energy and tackling climate change must be key priorities.

Posted on Oct 12, 2013 READ MORE



archer10 (Dennis) (CC BY-SA 2.0)

Hell on Earth for Greeks

Greek victims of austerity are increasingly being forced to sell their bodies for cheap in horrific squalor and to escape painful reality with a new street drug.

Posted on May 22, 2013 READ MORE



loop_oh (CC BY-ND 2.0)

A Safe and a Shotgun or Publicly Owned Banks? The Battle of Cyprus

For now, the government of Cyprus has overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. But if technocrat bankers can push through their confiscation scheme, precedent will be established for doing it elsewhere when bank bailouts become prohibitive for governments.

Posted on Mar 22, 2013 READ MORE



L'Orso Sul Monociclo (CC BY 2.0)

The Confirmed Insanity of Austerity

Austerity threw the 17 countries that use the euro back into recession in the third quarter of 2012. As a result, unemployment is expected to rise 12.2 percent, leaving half of young people in Spain and Greece without jobs, and public debts—the expressed target of the reductions—are growing as well.

Posted on Mar 19, 2013 READ MORE


Controlling the International Flow of Money

“For the past 35 years, the world’s largest financial institutions and most Western governments have worked to strip away all obstacles to the free flow of money from country to country,” and the results have been disastrous, the New Economics Foundation reports.

Posted on Feb 2, 2013 READ MORE



Atli Harðarson (CC BY-ND 2.0)

A Reality Check on Iceland

Expat Icelander Baldur Bjarnason has had it with people depicting his native land as a post-crash “progressive paradise” when it’s really a “Thatcherite’s wet dream.”

Posted on Jan 1, 2013 READ MORE


IMF Help

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Posted on Sep 5, 2012 READ MORE



SnowViolent (CC BY 2.0)

Creditors Demand Six-Day Workweek for Greece

A leaked letter from Greece’s lenders—the European Commission, the European Central Bank and the International Monetary Fund—orders the country to introduce a six-day workweek as part of a package of austerity demands for a second bailout.

Posted on Sep 5, 2012 READ MORE



Skley (CC BY-ND 2.0)

Stimulus Package Ahead for the Eurozone

The leaders of France, Germany, Spain and Italy made a bid to save the euro Friday, pledging to push for a $163 billion program to stimulate growth in the depressed European economies.

Posted on Jun 22, 2012 READ MORE



Gamma Man (CC-BY)

Public-Sector Banks: From Black Sheep to Global Leaders

Conventional wisdom holds that government bureaucrats are bad businesspeople. But around the world, the many countries with strong public banking sectors generally have strong, stable economies.

Posted on Mar 8, 2012 READ MORE



Parti socialiste (CC-BY)

Will Greece Be Ruled by the Bankers or Its People?

The most central and constant dilemma in modern politics—whether the will of the people or that of bureaucrats and specialists should rule—is on full display in Greece.

Posted on Mar 3, 2012 READ MORE



World Trade Organization (CC-BY-ND)

DSK Off the Hook in (Another) Rape Case

It’s been a few months since former International Monetary Fund head Dominique Strauss-Kahn made news for all the wrong reasons, and on Thursday yet another headline about DSK’s sexual past cropped up.

Posted on Oct 13, 2011 READ MORE


Greece Bailout

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Posted on Jul 24, 2011 READ MORE



Flickr / SpeakerBoehner

Obama Thinks Big, Republicans Balk in Deficit Talks

No visible progress was made during deficit talks Sunday in which President Barack Obama failed to persuade House Republicans to support $4 trillion in cuts over the next 10 years. (more)

Posted on Jul 10, 2011 READ MORE


IMF

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Posted on Jul 10, 2011 READ MORE


Strauss-Kahn Accusers Call Alarmed Prosecutors

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Posted on Jul 2, 2011 READ MORE



AP / Thanassis Stavrakis

IMF Sounds Warning About Global Economy

Three years into the Great Recession, the outlook is wobbly in the eurozone, according to the IMF. France and Germany are doing well enough to offset some of the economic problems plaguing their neighbors, but in a networked world, nations’ fates are intertwined.

Posted on Jun 17, 2011 READ MORE



AP

The Union Factor in the DSK Case

Would Dominique Strauss-Kahn’s alleged victim have been as quick to tell authorities her story if she hadn’t been a union member? Maybe not, The Guardian’s Dean Baker points out.

Posted on May 24, 2011 READ MORE


Dominique Strauss-Kahn

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Posted on May 23, 2011 READ MORE



AP / Shannon Stapleton, pool

The Real IMF Assault

As newly resigned International Monetary Fund head Dominique Strauss-Kahn hunkers down in his jail cell, IMF news has fallen into two categories. Both miss the devastation the IMF causes, regardless of who heads it.

Posted on May 20, 2011 READ MORE



Wikimedia Commons / IMF Photographic archives

DSK Exits the IMF

File this one in the annals of unsurprising resignations: Early Thursday morning, the International Monetary Fund released a letter from Dominique Strauss-Kahn, the organization’s now former director, announcing that he was stepping down in the face of sexual assault charges. (more)

Posted on May 19, 2011 READ MORE


Dominique Strauss-Kahn

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Posted on May 16, 2011 READ MORE



Flickr / bixintx

IMF Head Charged With Sex Attack in N.Y.

Dominique Strauss-Kahn, director of the International Monetary Fund and the French left’s most promising presidential candidate, was arrested Saturday and charged with sexual assault, attempted rape and unlawful imprisonment of a Times Square hotel maid. (more)

Posted on May 15, 2011 READ MORE



Flickr

Greece Hits the Help Button

Greek Prime Minister George Papandreou, declaring that the “moment has come,” formally requested the activation of a $60 billion financial aid package from the European Union and the International Monetary Fund.

Posted on Apr 23, 2010 READ MORE


When in Economic Trouble, Invent a Gold Mine

Economist Joseph Stiglitz says the International Monetary Fund should create a new reserve currency, rather like declaring that a massive gold mine has been discovered under the IMF building.

Posted on Dec 10, 2009 READ MORE


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