Thursday, July 3, 2014

EU Association Agreement with Ukraine Is a Gift to Kleptocrats

Click here if you wish to access the transcript of this 10:59m interview with Michael Hudson from Real News.

The interviewer starts off by asking Hudson about the significance of the economic association agreement that Moldova, Georgia, and Ukraine signed with the E.U. last week. He begins his answer with this general observation: 
...this is a form of colonialism almost identical to what Europe did in Africa and Latin America and the Near East. What it did in the 19th century in Africa, where property was owned communally, was it would go to the chieftains of a given tribe, as it did to the Saudi Arabian chieftains, and it would say, well, to make an agreement, you have to register all this oil of your country, but you register it in your own name. And once they registered it in their own name, then Britain or France or the other European powers could make a deal that the chieftains could then sell this property or make contracts on behalf of oil or minerals with the European colonial powers. And that's how the colonial powers pried away all of this property from what had been tribal possession or communal possession.