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Unformatted text preview: tries (Greece, Spain, Portugal, etc.). The problem is that the bailout package comes with a contingency plan, or a “structural adjustment program,” in which the nation must adopt “austerity” measures in an attempt to appease the lenders. Austerity programs involve the cutting of social welfare programs, privatization, deregulation, etc. (essentially, the “neoliberal” agenda). Thus, the current global recession has...
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