Banking on the Balkans

Chris Burford cburford at gn.apc.org
Thu Jun 3 15:53:54 PDT 1999


If peace on NATO terms now looks likely, we should watch the economic fine print.

Fischer continues to promote an aid plan from which capitalists will definitely benefit.

The Guardian this Saturday had an article by Alex Brummer.

The EU has provided aid of the order of $20 billion to the Balkans in the last 10 years. Now various European orgnisations are talking of a 10 year programme of rebuilding in the region of he order of $100 billion. Stiglitz, of the World Bank, has also talked of this figure.

The EU and the World Bank have opened a joint office in Brussels for this purpose, but some sections of the EU think that since the World Bank has little money itself to dispense.

They are less than enthusiastic about the Bank's involvement. These are seeds of differences between the US and Europe about domination in the Balkans. An alternative is a "Balkan Development Bank" with staff seconded from other international institutions.

No formation is likely to support a bottom up reconstruction of the economic life of the people.

Chris Burford

London



More information about the lbo-talk mailing list