> It's like if I controlled the world's timber supply and said Canada must produce houses out of timber
This is quite naive - in fact we do this all the time
* IMF provides loans to developing countries on the condition that they dont have 'socialist' policies
* EU bailouts for Greece/aspain/etc. was given on the condition of sale of state assets and doing other things
* The worlds ship insurance industry is run in London. Nuclear powered contsiner ships are faster, cheaper, and better in every way. Good luck insuring them. Running them without insurance is. illegal
*'non-tariff barriers' - i.e. free trade negotiations - are all about aligning countries on how they manufacture/insure/regulate things like cars. Guess which econony gets the bigger say.
Russia was forced to adopt Eu standards for petrol quality and engine emissions standards in 2,000's and they still follow
IMF provides loans and expects them to be repaid, having rules on government spending attached to the loans is... reasonable. Not to mention, that IMF loans are typically bailouts of governments that overspent.
Same goes with the EU bailouts, but PIGS countries were already in a compact with the rest of the Eurozone. Not to mention, that governments should not own things that can go bust and drag a budget under water.
As shown lately with Russian oil sales - it's absolutely possible to insure ships somewhere else, other than Lloyd's of London.
This is quite naive - in fact we do this all the time
* IMF provides loans to developing countries on the condition that they dont have 'socialist' policies
* EU bailouts for Greece/aspain/etc. was given on the condition of sale of state assets and doing other things
* The worlds ship insurance industry is run in London. Nuclear powered contsiner ships are faster, cheaper, and better in every way. Good luck insuring them. Running them without insurance is. illegal
*'non-tariff barriers' - i.e. free trade negotiations - are all about aligning countries on how they manufacture/insure/regulate things like cars. Guess which econony gets the bigger say.
Russia was forced to adopt Eu standards for petrol quality and engine emissions standards in 2,000's and they still follow