Maravi

(NEWZIMBABWE, DPA) Tsvangirai surveys banking chaos

COMMENTS - Ok, here we go. Let's deregulate the Zimbabwean banking system. Don't bother looking at what deregulation of the American banking system has done in the USA - the collapse of Lehman Brothers, which survived the American Civil War, WWI, WWII, the crisis of 1974, the 1980s - finally bankcrupted by the deregulation of the financial markets. This is what Tsvangirai now wants to visit on the people of Zimbabwe. Beware of this wolf in sheep's clothing - borrowed sheep's clothing, because the most rabid neoliberal in the MDC is Eddy Cross.

" The MDC hopes that Zanu PF moves away from its intransigent position on key ministries so that a new government begins to address the people's basic needs. "

The MDC's prescriptions have nothing to do with the people's needs or interests, and is only about corporate interests - corporations like Anglo-American and LonRho.

Banking deregulation. Anyone can take a stroll past people queing at bank accounts, but Tsvangirai is not being honest with them about what the MDC's policies are really going to mean for them. :(

These are pictures of Morgan enjoying his handiwork. He should be thanking the Zimbabwe Democracy and Economic Recovery Act of 2001 for hyperinflation, without which he would not have the opportunity to rob Zimbabwe blind.



Tsvangirai surveys banking chaos

TOUR: Tsvangirai is cheered by Zimbabweans waiting at a bank queue on Friday, September 26, 2008
Posted to the web: 26/09/2008 15:24:17

ZIMBABWE'S Prime Minister-designate Morgan Tsvangirai on Friday made a surprise visit to banks in the capital Harare that were the scene of long queues resulting from cash shortages.

Some of those queuing temporarily forgot about the miseries as they cheered the Movement for Democratic Change (MDC) leader. Others said they had been in queues daily for several weeks.

"We no longer have anything to do other than to come here daily to withdraw money since the daily maximum limit is worthless," said Maureen Mashavave, who was carrying a baby on her back in a queue outside the Kingdom Bank.

Tsvangirai - accompanied by his MDC deputy Thokozani Khupe and party spokesperson Nelson Chamisa - asked people if they were happy with $1 000 as the maximum daily bank withdrawal allowed in Zimbabwe (that will be raised to $20 000 from next Monday, according to the central bank).

A loaf of bread costs at least $1 500.

He left, shaking his head, and saying he was concerned about the situation. "This is totally unpleasant and it has to be addressed as a matter of urgency."

"Hunger and problems are now gone," a bystander shouted at Tsvangirai in reference to the former union leader now being part of the government.

Cash shortages are just part of the collapse of the economy of a country that was once the breadbasket of the southern African region.

Zimbabwe's economy has been on a steep downturn for a nearly a decade with an estimated 90 per cent unemployment, shortages of electricity, food, fuel and medical drugs, and at least 80 per cent of the population living below the poverty line.

Year on year inflation, officially 11.2 million per cent - but independent economists peg it at more than 20 million per cent - is the highest in the world.

Tsvangirai and President Robert Mugabe signed a power sharing deal on September 15 aimed at reviving the country's economy. - dpa

Labels: BANKING, MORGAN TSVANGIRAI, NEOLIBERALISM, SANCTIONS

posted by MrK @ 8:50 PM