1ST PARAGRAPH:
For a long time, the International Monetary Fund (IMF) has had its supporters and detractors. To help frame this discussion, consider the IMF’s actions in Greece. Greece spent a decade in economic turmoil starting in 2009. The IMF provided financial assistance to “bail out” Greece multiple times during the crisis. Their loans came with requirements that Greece needed to meet. Some argue that the IMF made the crisis much worse, whereas others feel the IMF provided timely support to Greece not long after the global financial crisis of 2008.
1st paragraph to address below.
* Is it ethical for the IMF to bail out countries that repeatedly make bad economic and fiscal decisions? Is it ethical for the IMF to have significant requirements attached to its loans?
* What lessons should be learned from the Greek debt crisis for countries with debt obligation issues and for organizations such as the IMF?
2ND PARAGRAPH:
• The IMF is considering creating a digital currency. Assuming that we are in a world where there is a single digital currency, who would ideally create a global cryptocurrency? Would you trust the IMF to create one? Or would you prefer one created by a global bank such as JPMorgan Chase or one backed by a country?
• What are the ethical implications of cryptocurrency?
3RD PARAGRAPH:
The European Union legislation called the “General Data Protection Regulation” (GDPR) provides data privacy protections for consumers and has had a major impact on companies around the world.
3rd paragraph to address below.
• What are the general requirements and major impacts of the GDPR, and how does this law differ from data protection legislation in the United States?
• Do you think there should be one data privacy law for the entire world?
Balance your discussion by weighing the benefits to international companies with your knowledge of the differences in culture, politics, and government around the world and the importance of the sovereignty of countries.
4TH PARAGRAPH:
Should there be global data privacy legislation?
