Upcoming Events

International | Anti-Capitalism

no events match your query!

User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

forward

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mass cards and avoiding a ten year jail sentence

offsite link Labour TD Derek Nolan is a hypocrite Anthony

offsite link Corruption: Feeding off the carcass of Irish democracy Anthony

offsite link Denis O’Brien gets yet another contract…on another planet Anthony

offsite link Government making Irish Water too big to fail? Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link THIS BLOG HAS MOVED TO A NEW LOCATION VINEYARDSAKER:

offsite link Good news out of Russia - even the "non-system" opposition refuses to blame the Kremlin VINEYARDSAKER:

offsite link Nemtsov murder: Putin warned about exactly this type of "false flag" two years ago VINEYARDSAKER:

offsite link DPR PM Zakharchenko presser 27/02/15 Economical and political future of DPR VINEYARDSAKER:

offsite link Breaking news: FALSE FLAG IN MOSCOW! VINEYARDSAKER:

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Abortion Law in Northern Ireland ? Change at Last? Wed Jul 29, 2015 08:05 | GuestPost

offsite link Depoliticising Policing at MacGill Summer School Thu Jul 23, 2015 10:59 | Vicky Conway

offsite link Conference Announcement. Victims? Rights: An Agenda for Change. Tue Jul 21, 2015 11:32 | Sinead Ring

offsite link Legal Gender Recognition in Ireland Fri Jul 17, 2015 01:34 | Peter Dunne

offsite link The IMF?s strange role as the voice of moderation Thu Jul 16, 2015 11:05 | Aoife O'Donoghue

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Jim Lane Socialist Republican Part 3 12:00 Sun Aug 02, 2015 | irishelectionliterature

offsite link Sunday Independent Stupid Statement of the Week: DIY 10:53 Sun Aug 02, 2015 | Garibaldy

offsite link A moral parity between ?Nazi invaders and the partisans who resisted them?? 03:23 Sun Aug 02, 2015 | WorldbyStorm

offsite link Latest Sunday Independent Millward Brown Poll 23:27 Sat Aug 01, 2015 | irishelectionliterature

offsite link The Aerodrome from BBC TV in the 1980s 13:58 Sat Aug 01, 2015 | WorldbyStorm

Cedar Lounge >>

“IMF is dead, a walking dead” - FDC

category international | anti-capitalism | news report author Tuesday November 20, 2012 13:52author by Freedom from Debt Coalition (FDC) Report this post to the editors

MANILA, Philippines – As the first female chief of the International Monetary Fund (IMF) visited the country for the first time and met with Pres. Benigno S. Aquino III Friday morning, debt watchdog Freedom from Debt Coalition staged a protest near the Malacañan Palace, in solidarity with the peoples of the Eurozone.

2012freedomfromdebtcoalitionfdc.jpeg

“For FDC, the IMF is dead, a walking dead,” said the group’s president, Ricardo Reyes. “The sooner we bury this economic zombie, the better for the economies and the peoples of the world.”

IMF Managing Director Christine Lagarde arrived Thursday afternoon and met with the President Friday, ostensibly to solicit insights on how to solve the Eurozone economic crisis and also to advise the Philippine government to rationalize tax incentives granted to business. She is in the country as part of a visit to Southeast Asia. She is also scheduled to attend a meeting of ASEAN nations in Cambodia early next week.

In a statement, FDC said that Lagarde’s coming and her reception by the Philippine government evokes a surreal scene. “This institution has been widely dismissed as monstrous failure to stabilize the global financial system and as a wrecker of developing economies,” it said.

“No amount of persuasion and distortion of history can redeem the IMF from its pathetic track record – its failure to predict many crises of regional and global impacts, including the US financial crisis; its counterproductive prescriptions to such crises, and its policy conditionalities to its loans to many developing countries, like the Philippines, which drove them deeper into debt and maldevelopment. For all these reasons, the IMF should have long been consigned to oblivion and death,” FDC said.

“But no, the G-20, especially the G-7 masters of global finance capitalism has artificially resuscitated it with a new mission: to push for the same old rotten prescriptions of monetary tightening and fiscal contraction or austerity measures, this time, in Eurozone countries in crisis while promoting countercyclical macroeconomic policies like expansionary spending and investments to counter the recession in the US and Western Europe,” added FDC.

“We, Filipinos, were once victims and, until now, suffer the grave consequences of the structural adjustment programs (SAPs) imposed by the IMF on us in the 1980s. Now, we witness once again the grave consequences of IMF’s recycled mantra, as our fate will be the same fate of the peoples of the Eurozone under the IMF’s direction. Massive cuts in public spending and the negative multiplier effects they generate have led to massive unemployment and collapse of social services. Consequently, this will result in intensifying global inequality between the North and the South, and between the 99% of the North and their super, super-rich elites,” FDC said.

“We, in FDC, join the peoples of the Eurozone who are currently on strike. The IMF should not be permitted to spread socioeconomic diseases through its vile, anti-people and neoliberal policies here in the Philippines, or in the Eurozone, or in any other country,” FDC said.

http://www.fdc.ph

2012imfisdeadfdcphilippines.jpg

2012imfzombie.jpeg

2012philippinesprotest.jpg

© 2001-2015 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy