Good News

There is some good news for those who still have illusions. The curtain was raised so we can see what is going on behind the scenes.

¨The United States would oppose International Monetary Fund bailout packages to countries that are not likely to repay them under a measure passed by the U.S. Senate on Monday. The 94-0 vote came amid widespread concern that the United States is indirectly supporting a $40 billion IMF bailout approved for Greece earlier this month as that country struggles to rein in its debt. According to the bill the United States’ executive director will be directed at the IMF to determine whether there is likely to be repayment of loans to countries whose public debt exceed their gross domestic product. If the director determines that the loan is not likely to be repaid, the executive director would be obligated to vote against it. It would have to be reconciled with a similar bill that passed the House of Representatives in December before President Barack Obama could sign it into law. Senator Christopher Dodd said that the IMF clause might be modified in coming weeks to satisf y others’ concerns,¨ reports Reuters. Link

Why is that possible? The thing is that the USA owns the control packet of IMF shares, but I haven’t yet seen it being reported avowedly in the media. That is why the news attracted my attention.

Does anybody else think that the international organizations like IMF, WTO or The World bank and the like are, in fact, INDEPENDENT, if one country’s senate determines the way they should act?

Do you still have any illusions that these organizations take into account interests of the whole humanity, rather than those of one country?

Can you be that naïve?

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