I believe this point has not received sufficient attention:
In a twist that leaves some experts shaking their heads, the fund needs
money from cash-rich developing countries, like China and India, to
help more developed but strapped countries, like those in Eastern
Europe.
One possibility is that the recent IMF loan program is about making governments better off, not about making people better off. Can you imagine that?
“One possibility is that the recent IMF loan program is about making governments better off,
not about making people better off.”
Can I imagine it? Yes. Why would you think that something established by GOVERNMENTS wouldn’t have, as its
primary purpose, mutual aid and benefit?
NC, one only hopes that the issue in those countries is merely liquidity constraint in which case the euro zone with its $1 trillion expected write down would come out of this crisis ever so gracefully. The question is what is the probability that will happen.
Makes sense to me!
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