it turns out that KfW became a pioneer of WallStreet Consensus in the 1980s, after a development consultant documented how KfW colluded with Somoza regime. Unfortunately, same consultant found Sandinista revolution not ordoliberal enough (!!) in 1980.
regular reminder to Eastern Europeans that our brothers in West Germany had form on migration. 
we critical macro-finance scholars complain about how Washington Consensus destroyed Eastern Europe productive structures via shock therapy, but let's not forget that Jeffrey Sachs had a close ally in Germany's state-owned (!) national development bank!
the more I read about KfW, the more I think progressive economists (and the UK Labour Party) should think twice before using it as model of national development bank to be replicated for #GreenNewDeal initiatives.
KfW is a shadow bank clothed in nostalgia for Big State Finance.
KfW is a shadow bank clothed in nostalgia for Big State Finance.
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