EGYPT - paralely s Kalouskem a spol.? “Strong Economic Medicine” The protest movement against Mubarak in early 2011 was in response to the devastating impacts of IMF reforms. Initiated at the height of the Gulf War in early 1991, these reforms –which span over a period of more than 20 years– have served to impoverish the Egyptian people, while also “opening up” the Egyptian economy to the influx of “foreign investors”. The Nile Valley which was Egypt’s breadbasket for more than 3000 years was destroyed in favor of food imports from the US and the European Union. The resulting deregulation of food prices, sweeping privatization, austerity measures had led to poverty and mass unemployment. In turn, social programs collapsed, Egypt’s economy and financial system were destabilized. Continuity pertaining to neoliberal economic reform is central to US sponsored regime change. Morsi’s accession to the presidency was conditional upon his acceptance of IMF “economic medicine”.
Posted on: Fri, 05 Jul 2013 08:32:34 +0000
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