The Consequences Of Policy Decisions (http://www.guardian.co.uk/world/2010/mar/18/north-korean-executed-currency-reform)
The Guardian (UK) – North Korean finance chief executed for botched currency reform
North Korea has executed a senior official blamed for currency reforms that damaged the already ailing economy and potentially affected the succession, a news agency in South Korea reported today. Pak Nam-gi was killed by firing squad last week, said Yonhap, citing multiple sources. The Workers party chief for planning and the economy had not been seen in public since January. The 77-year-old was put to death as “a son of a bourgeois conspiring to infiltrate the ranks of revolutionaries to destroy the national economy”, the agency said. But it reported that many North Koreans did not believe the explanation, citing one source who said: “The mood is the leadership has made Pak Nam-gi a scapegoat.”
Comment (bianco March 31)
When the UK breached its inflation targets last year, Mervyn King, head of the Bank of England, had to write a letter of apology to the Chancellor of the Exchequer Alistair Darling. If he thought this was demeaning, he should consider the alternative in North Korea.
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