IMF secures additional bank bailout funds

[polly7]

By Nick Beams

23 April 2012

http://www.wsws.org/articles/2012/apr2012/econ-a23.shtml

Two key features of the world economy emerged clearly from the spring meeting of the International Monetary Fund and the World Bank, held in Washington over the weekend.

Firstly, the global financial system remains extremely fragile, with a crisis in Spain, Italy or some other country threatening to set off international turmoil that would go far beyond the meltdown experienced after the collapse of Lehman Brothers in September 2008.

Secondly, the differences among the major capitalist powers over economic and financial policy are widening.

In other words, government must slash social programs, in line with the demands of the banks and financial markets, and step up labour market “reforms,” aimed at cutting wages and working conditions, in order to boost profits and investment opportunities.

[MannyGoldstein]

1. So the 99% must further bail out the Bankers, and as a reward

we get crushed with more austerity.

FABULOUS!