Five years ago, economists prophesied a prosperous future for Nigeria, and the rest of the continent. Yet today, the country is facing what one leading Nigerian academic recently told me is its “biggest crisis since independence”. The devaluation of the Nigerian naira by 230% over the past year, along with a huge rise in inflation, has sparked an economic crisis unequalled in its modern history. With meat, eggs and milk now a luxury, there have been reports of people in the north of the country being forced to eat poor-grade rice usually used as fish food.
Economics
Serban V.C. Enache – How to leave the Euro: A Practical Guide
An Interesting piece concentrating on the finacial factors. Read here
Austerity
Simon Wren-Lewis: The economic and political cost of UK austerity
While George Osborne is crowing about the success of austerity, Simon Wren-lewis examines the high costs of Osborne’s failed economic policy. Read here
National Politics
Jaime Pastor – Maricarmen, the general strike, and the threat of an electoral victory for the reactionary bloc
Analysis of the political situation in Spain from a tenants’ union activist. In ‘International Viewpoint’. Read the article HERE.
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