IMF bailout: Lessons that Africa can teach Europe

by RASNA WARAH

The sight of ordinary Greeks and Spaniards being attacked by riot police in their respective countries is baffling to many Africans, who are not used to seeing such images emanating from European countries.

But these scenes are going to become more frequent in the coming months, not just in Greece and Spain, but in other parts of Europe, particularly the “weaker” and more heavily indebted European nations.

Economists are already predicting that Portugal, Italy, and Ireland will experience similar riots in the near future, and that the euro will lose credibility as a viable currency.

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