Debt peonage in Latvija

This video is a talk by Dr. Michael Hudson explaining the advice he has given to the government of Latvija in Riga.

It illustrates how the International Monetary Fund (IMF) and the European Central Bank (ECB) play the tune to which governments are expected to play and let German and Swedish banks live rather than the local Latvijan economy.

Dr. Hudson calls it “debt peonage” and “neo-colonialism”.

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2 responses to “Debt peonage in Latvija

  1. I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!

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