Results 1 to 1 of 1
Thread: Egypt vs IMF: Time to Default?
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
07-07-2011, 09:37 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
Egypt vs IMF: Time to Default?
Egypt vs IMF: Time to Default?
by Eric Walberg
Global Research, July 7, 2011
The financial flip-flop of Egypt’s revolutionary government, first requesting and then declining a $3 billion dollar IMF loan, highlights Egypt’s hard choices at this point in the revolution, but is a good sign.
It is no secret that Egypt has put all its faith in the US and Western international institutions since the days of Egyptian president Anwar Sadat, contracting a huge foreign debt, a process that was increasingly corrupt, despite being careful watched over by those very agencies. This debt is financed by foreign banks, and must be repaid in dollars -- with interest. If much of the money they create and then “lendâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
72 Hours Till Deadline: Durbin moves on Amnesty
04-28-2024, 02:18 PM in illegal immigration Announcements