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Yes, you are right. And I speak of "countries" in general which is obviously wrong. I was thinking of eurozone countries, and somehow I think Latvia (and Hungary, no?) didn't begin their history as IMF victims, as models for the whole EU. That is a more recent development...

It's scary though when the experts don't even bother check the figures of the economy they are supposedly fixing...

The road of excess leads to the palace of wisdom - William Blake

by talos (mihalis at gmail dot com) on Tue May 25th, 2010 at 06:38:09 AM EST
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I was thinking of eurozone countries, and somehow I think Latvia (and Hungary, no?) didn't begin their history as IMF victims, as models for the whole EU.

OK, no Eurozone. I didn't think of Hungary as analogy, because its 'reforms' crisis is a much longer story (preceding the Global Financial Crisis), the "shock level" was lower, and has rarely been touted as example. But Latvia was for long touted as flat tax wonderland, with wonderful deficit and productivity and foreign investment situation, touted as example to follow even in the EU-15; then it unravelled, and the IMF came in, while practically the entire second language speaking youth went to work elsewhere in the EU, then a new government was elected that again did more of the same...

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Tue May 25th, 2010 at 06:56:19 AM EST
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