Tuesday, June 21, 2011

So much for the "facebook revolutions"

 Now the World Bank and the European Development Bank are willing to help- guess who - some North African countries , beginning with Egypt, Morocco, and Tunisia. I always suspected that those "Facebook revolutions" were not as spontaneous as they were presented by the media.

Why the development banks are all of a sudden ready to 'help' these commodities rich new democracies? Because they have revenues to pay back loans. Who wants to help the PIGS who have been economic basket cases for decades ?

Who cares on what kind of democracy they got or they already had. The case of Morocco is ludicrous since it is a very old dictatorship but with strong ties with big western corporations.

So these countries will be perfect substitutes for the PIGS until they are dried up and thrown down the toilet as used kleenex. But before that  they will buy lots of Mercedes and Siemens. And they have either a more expensive oil (than olive one) or other interesting commodities. Only a little of "liberalization" was needed for some of these authocratic countries. So much then for the Facebook revolutions.

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