Structural adjustment coming to the West
Updated: 2010-11-28 23:59:00
A small update to the global financial crisis page looks at further examples of structural adjustment-like policies for industrialized nations. This example is Iceland, which like Ireland, has had a banking crisis. However, Ireland has gone the route of publicly backing the banks’ debts, thus socializing the risks. The Irish population is already bearing the brunt of a recession with austerity measures, but the recent bailout by the EU, IMF and others puts more pressure on the public.Read full article: Global Financial Crisis