North Korea execute finance minister for ruining economy

ei.sdraob

A leading North Korean financial expert has been dragged before a firing squad and shot dead for ruining the country's financial affairs.
Mr Pak Nam Ki was responsible for revaluing the communist regime's currency last November, but his attempts to curb inflation caused nationwide misery - and leader Kim Jong Ill was not amused.

It is understood the execution is an attempt to contain civil unrest.

Under Mr Pak's orders, people holding old banknotes were instructed to cash them in - at a rate of 100 old notes for one new one. Further hardship was imposed with a restriction on the number of old notes that could be exchanged.

http://www.thisismoney.co.uk/news/article.html?in_article_id=501401

while executing people for failure might be going to far

why are we paying large salaries and pensions to people who ran the country into the ground, why is there no system of punishment/bonuses for ministers wages? to act as carrots and sticks

why do bankers only have bonuses (carrots) but no "sticks" (golden handshake is not a punishment)?

yuloni

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Permabear

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Fighting Irish

Can we kill off all stupid people

Because the North Korean economy was so vibrant before..yeah.

Fighting Irish

donegalfella wrote: »

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I thought that said "Paki's reported...." lol

Valmont

donegalfella wrote: »

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How long can this last? When will the inevitable happen? I'm surprised it hasn't happened already considering we have been hearing about the dire state of their finances for a long time now.

Valmont

Valmont wrote: »

How long can this last? When will the inevitable happen? I'm surprised it hasn't happened already considering we have been hearing about the dire state of their finances for a long time now.

Since about 1953.

Welease

ei.sdraob wrote: »

http://www.thisismoney.co.uk/news/article.html?in_article_id=501401

while executing people for failure might be going to far

why are we paying large salaries and pensions to people who ran the country into the ground, why is there no system of punishment/bonuses for ministers wages? to act as carrots and sticks

why do bankers only have bonuses (carrots) but no "sticks" (golden handshake is not a punishment)?

Because if you build a local swimming pool in this country, the good people will forget all the backhanders you have taken and dumb decisions you have made and vote you back in for another term.

ei.sdraob

Rojomcdojo wrote: »

Since about 1953.

totalitarian communist states have a tendency to hang around like bad smells

tho they usually collapse after 70 odd years (leaving corpses behind)

ei.sdraob

ei.sdraob wrote: »

totalitarian communist states have a tendency to hang around like bad smells

tho they usually collapse after 70 odd years (leaving corpses behind)

A North Korean collapse in a few years could actually be a catalyst to kick-starting the world economy as an example of "the free market winning again". It might restore a lot of confidence in the Capitalist system.

ei.sdraob

Rojomcdojo wrote: »

A North Korean collapse in a few years could actually be a catalyst to kick-starting the world economy as an example of "the free market winning again". It might restore a lot of confidence in the Capitalist system.

ill say Cuba would be first to go, they are slowly opening up now

MaceFace

Fighting Irish wrote: »

Can we kill off all stupid people

Then who will I have to debate with?

Seriously, great idea. We should all join the Greens and get it as part of their policy.

ei.sdraob

MaceFace wrote: »

Then who will I have to debate with?

Seriously, great idea. We should all join the Greens and get it as part of their policy.

that reminds me

The Cuban Ambassador, Teresita Trujillo, is keen to visit Galway in an official capacity to discuss new technologies and high-level research and development initiatives.

The ambassador made her views known in a meeting with Galway Green senator, Niall Ó Brolcháin, who is supportive of such a visit.

“Cuba is renowned for providing a world class health care system on a low budget and is now embracing new technologies in order to progress,” said Cllr Ó Brolcháin. “Galway is ideally placed as a technological and research hub to facilitate a transfer of initiatives and ideas to emerging economies.”

He also pointed out that Cuba is “a world leader in sustainable living” with Havana producing 80 per cent of its food supply from within the region.

sustainable living, my god :pac:

Doodee

ei.sdraob wrote: »

that reminds me




sustainable living, my god :pac:

ya ever visited Havana?

ei.sdraob

Doodee wrote: »

ya ever visited Havana?

yep for quite a prolonged period actually (and not just stuck in a hotel compound), considering going back this summer and stay in family's friends old colonial era house (they told me not to waste money on hotels and rather help out with basics like food), need to figure out how ill be able to keep an eye on my work while away since internet is very restricted and slow

many people dont have much proper food to eat, lets just say "green" living is the last thing on their mind

talla10

Which minister went to korea for paddy's day??? :pac:

stepbar

The story made me chuckle in disbelief as it was a fairly permanent solution to a problem. Poor chap (family and all that).

Can you imagine if that happened here? Jeasus we'd have a good long queue....

The_Thing

And rather than bullets we should use bayonets in order to save money.

Liam Byrne

ei.sdraob wrote: »

while executing people for failure might be going to far

Debatable.

And the bigger question is which failed idiot would be first....there are 3 to choose from.

ei.sdraob

Liam Byrne wrote: »

Debatable.

And the bigger question is which failed idiot would be first....there are 3 to choose from.

i dunno, i think a long prison sentence while reading hate mail might be more fitting

invinciblePRSTV

Lets not judge our NK comrades too harshly, after all if McCreevy was operating under those conditions you can be dam sure he wouldn't have pissed the Celtic Tiger cash down the toliet :mad:!