http://www.guardian.co.uk/commentisfree/2009/feb/19/world-bank-reform-recession
Published by guardian.co.uk
Thursday 19 February 2009
As we reconstruct the banking system, we must look to this international body’s disastrous neoliberal policies
Reconstruction of the banking system must extend to the World Bank. Its influence is all-pervasive. Governments and pressure groups hang on its words. But its persisting failure to deal with the huge scale of poverty in the developing world, together with its failure to deal with, or even report, predatory corporate forces, including banking systems, places it at the storm-centre of world recovery and reform.
The bank does not have capability to lead recovery from deep recession. Getting rich quick has meant exploiting many millions on the lowest incomes and failing to satisfy their basic human rights. This subversive motive must be ascribed to the reach and dominance of neo-liberal economic ideology in the last 40 years.