brics bailing out europe piece Courtesy: www.kremlin.ru/Flickr
23 September 2011

BRICS bail-out of Europe: A far cry

BY

In a reversal of historical roles, the BRICS nations may be coming to Europe’s rescue. During the Asian Financial Crisis, the International Monetary Fund (IMF) introduced structural adjustments in return for IMF loans, and many institutions and individuals went bankrupt. Will it be any different now?