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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIn Kiev, Crushing IMF Austerity Defended as 'Price of Independence'/"Yats" Strikes Back!
Published on Friday, April 4, 2014 by Common Dreams
Interim Prime Minister Arseny Yatseniuk continues to tell Ukrainians and the world that gutting pensions
- Jon Queally, staff writer
Ukrainian Prime Minister Arseny Yatseniuk speaks during an interview with Reuters in Kiev April 3, 2014. The new Ukraine government in Kiev, currently led by interim Prime Minister Arseny Yatseniuk, continues to tell its people that the only path forward for the country is to submit to the demands of the international financial powersspecifically the International Monetary Fundby meeting their demands to implement draconian cuts to social funding, pensions, and otherwise "liberalizing" the economy in exchange for billions of dollars in bailout loans.
Noting full-well the unpopularity of and crushing impact that ending fuel subsidies and cutting both wages and pensions will have on regular Ukrainians, Yatseniuk told Reuters in an interview published Friday that these measureswhich are set conditions for a $14-$18 billion loan package from the IMFare simply the "price of independence."
He called the plan being structured in Kiev at the behest of the western economic powers as "tremendous step forward" even as economists and researchers have repeatedly and consistently shown that austerity measures like the ones now under consideration have a destructive, long-term impact on national economies, especially those suffering from a debt crisis.
"We will regain trust and credibility from foreign investors," said Yatseniuk, defending the plan. "This is the roadmap for Ukraine."
That may be so. But as Jack Rasmus, a professor of economics at St. Mary's College, pointed out following the announcement of IMF conditions now being pushed in Kiev, this roadmap might lift the street credibility of Yatseniuk among the world's powerful financial elite (the Reuters report says western leaders are impressed by what they term his "clear-sightedness" on economic matters), but it's the nation's regular citizens and workers who will ultimately pay the price for these short-sighted policies.
"Those who will pay will not be the bankers and multinational businessmen, but the Ukrainian people," argued Rasmus. "That is the essential and repeated history and legacy of IMF deals globally for the last three decades."
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pa28
(6,145 posts)Yatseniuk is an un-elected leader submitting Ukrainians to the typical shock doctrine package of subsidy cuts, pensions cuts, austerity and privatization.
A few well connected people will get very wealthy. The rest are pretty much F*cked and they don't know it yet.
socialist_n_TN
(11,481 posts)these "un-elected leader" s) put the country on the hook for these conditions and the repayment of the debt EVEN IF THEY'RE OVERTHROWN IN A TRUE POPULAR REVOLUTION. Or for that matter, in another election.
One of the things that stuck with me from Naomi Klein's book was how Chile was still on the hook for Pinochet's debts even after Pinochet was overthrown. And what added salt to those particular wounds was that a large part of that debt was to the USA for the training and equipment that Pinochet used to oppress the Chilean people. Basically, Chileans STILL had to pay for the means that Pinochet used to torture and murder them. That ain't right.
Jesus Malverde
(10,274 posts)A legacy of the Batista family.
Someone said to me and her being of German background it resonated.
In history and international relations "there is no going backsies"
Jazzgirl
(3,744 posts)This keeps happening over and over. When will somebody wake up and say "oh fuck no.?"
KoKo
(84,711 posts)the Ukrainian "Coup Government" is Legit. So "Yats" (as Victoria Nuland of our State Department referred to him) is the "Interim" Globalist Banker insider who will set up the rules for whatever "elected" Govt. follows him.
I guess he's the "FIXER" for the Globalists and EU Interests.
Jesus Malverde
(10,274 posts)From the tyranny of soviet oppression and their NeoNazi colonialism.
The boob tube told us.
KoKo
(84,711 posts)though.
Or...do you think it HAS turned out well.
Do you have some examples. I can't find any...
LittleBlue
(10,362 posts)once the supporters of the coup realize that overthrowing the government meant adopting brutal austerity.
The eastern provinces are looking at this, and seeing pensions double in Russian Crimea, and there won't be much of a decision to make when the time comes.
KoKo
(84,711 posts)It will GET IT CORRECT...ONE DAY!
malaise
(269,065 posts)More like the price of 'in dependence'
KoKo
(84,711 posts)We shall see...........The Price of Dependence.....it works out that way in the end. Gotta CHANGE THAT SCENARIO!
reformist2
(9,841 posts)They escaped the clutches of the austerity monster in the nick of time.