May 10, 2011

IMF QUAKES AS EGYPTIAN REVOLUTION DEEPENS

In April hundreds of thousands gathered once again in Tahrir Square to demand that Mubarak and his clique be put on trial for their crimes. The next day the military attacked, but under pressure have now given into the demands that Mubarak and his two sons be arrested. No one is fooled after a month of attacks by the Military Council, with the slogan 'The Army and the people are one hand'. The new slogan is: "Revolution, Revolution Until Victory".
As Egyptian Workers are pushing ahead on the political and economic front they are demanding through their independent unions that their pay be increased and their working conditions improved.
We now start hearing from Global Capital. They are transparent and clear about their concerns with the Egyptian Revolution as it deepens. The former director of the International Monetary Fund (IMF) for the Middle East, Mohsin Kahan stated, "My worry in the short run is the return to populist policy, back-tracking and undoing reforms." What he means by "reforms" is the high rate of privatization, the cutting of Government subsidies and the cutting of public services". He must have heard about the worker's in Mahalla who are calling for privatized companies to be returned to the public sector.

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