Lost Decade

The Euro Zone is in deep crisis and if care is not taken some countries may opt out of it. The Greek Government can’t fund itself anymore thus seeking a bailout. The Prime minister was forced to resign and the trend moved to Italy too where the Mafioso , Berlusconi himself could not wriggle himself out of this one. The IMF chief said these signs may be part of the Lost Decade where there will be low growth and massive unemployment. Quite sure the IMF was part and parcel of economic plans in Europe at the early stage of the forming of Euro Zone.

Sure it is some of the economist in this part of the continent that makes up the IMF and I find it strange when Nigeria accepts the policies of the IMF hook, line and sinker. Nigeria has a peculiar economy with peculiar problems and no IMF initiative or policy will ever lead us out of the so called crises if we truly are in one. The only challenge the country has is corrupt and inept leaders. I don’t see the economic team making any head-way achievement but only in papers which will never amount to improvement of standard of living for its citizenry.

We have had enough of pen and paper talks. Let the people give testimony of improvement in their living standard.