The troika is here
The troika is here. Life in the (funds) concentration camp called Greece.
Every visit of the EU-ECB-IMF represenatives is a new slap in the face, a fresh humiliation. The masters of the Greek economy determine every aspect of the country΄s economy, and, thus, also its politics and its society.
So what about us? Will we always be the poor relatives begging the money markets for funds? How about looking for better development recipes, other than the ready made ones? “Institutional innovations do not travel well. Success strategies vary significantly between different countries. Countries need home-grown strategies and active policy innovations rather than a consensus." says the top development economist Dani Rodrik. “Global integration is not a substitute for a sound country-specific development strategy” As for business trust "it does not translate into development, when you do not comply you command more respect"
Since when is the Washington Consensus a recipe for success?
So what about us? Will we always be the poor relatives begging the money markets for funds? How about looking for better development recipes, other than the ready made ones? “Institutional innovations do not travel well. Success strategies vary significantly between different countries. Countries need home-grown strategies and active policy innovations rather than a consensus." says the top development economist Dani Rodrik. “Global integration is not a substitute for a sound country-specific development strategy” As for business trust "it does not translate into development, when you do not comply you command more respect"
Since when is the Washington Consensus a recipe for success?