Action week: Bail out people not the banks!

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Action week: Bail out people not the banks!

Brussels, Belgium

24 November 2012 by CADTM

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Everywhere in Europe, debt repayment is used by governments as a pretext to impose the biggest social regression since World War II. Everywhere citizens’ rights and hard-won social benefits are jeopardized.

CADTM suggests alternatives to this unfair and deadly logic. Some have been concretely experimented in Southern countries and are worth being examined, others are being explored and need strengthening, others yet have to be invented. All will require our common endeavour.

Tuesday November 20^th, the international seminar on law and human rights was about citizens’ debt auditing and the conditions warranting debt cancellation when it is odious, illegal or illegitimate.

Céphas Lumina, independent expert mandated by the UN to investigate the links between debt and State obligations, submitted his report and explained the process that led to the completion of this work.

On November 21^st and 22^nd, CADTM invited people committed in citizen debt audit or those willing to do so to exchange on experiences and problems. Delegates from Belgium, Spain, Portugal, France, Italy, Greece, Ireland, UK, Tunisia, Egypt, Brazil, Argentina, Colombia... were present.

Saturday November 24^th: we analysed banks’ crimes and misdemeanours carried out with public authorities in charge of controlling them aiding and abetting. We introduced various actions taken by citizens, collectives and elected people who don’t want to cough up anymore. The objective of this conference was to exchange on resistances and alternatives but also to strengthen solidarity between countries and the convergence between organisations.

Andy Storey, member of the Irish collective « Not our debt », presented ongoing actions against directors of the Anglo Irish Bank, one of which is actually in prison.