All the articles
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The DiEM25 Plan to Confront the Covid-19 Crisis in Europe
27 May 2020 - by Eric Toussaint, Olivier Bonfond, Eva Betavatzi
Strengthen the European Union and its institutions, include the ECB; increase public debt as much as possible in order to save the private sector; not question the legitimacy of public debt; pay €2,000 into the bank account of each European citizen, whether rich or desperately poor; deplore the lessening of the EU’s ability to compete with China (...) -
“Business as usual” at Socfin and Bolloré...
26 May 2020 - by CADTM France, Collective
On 26 and 27 May 2020, the Socfin and Bolloré groups hold their annual general meetings. Socfin, which is 39,7% owned by Bolloré, controls 400,000 ha of oil palm and rubber tree concessions in ten African and Asian countries with the participation of Bolloré. While in Luxembourg and Paris, shareholders are meeting behind closed doors to share (...) -
Millions forced to choose between hunger or Covid-19
26 May 2020 - by GRAIN
On the eve of May Day 2020, in full coronavirus pandemic, the International Labour Organisation (ILO) released some hair raising statistics. About 1.6 billion workers from the informal sector are in dire straits because of the lockdowns governments have imposed to stop the spread of the virus. According to the ILO, some 60% of the world’s (...) -
The Corona pandemic and the Struggle for our Peoples’ Resources and Food Sovereignty
22 May 2020 - by Omar Aziki
This is a transcript Omar Aziki’s presentation of the North African Network for Food Sovereignty and was a part of our first webinar in Arabic. North African Network for Food sovereignty Today, it appears that the Coronavirus Pandemic will inadvertently cause humanitarian tragedies of immense proportions. Its health, social, economic and (...) -
Call of peoples, organizations, movements and networks in North Africa and the Middle East/The Arab region – For the cancellation of debts and dropping of the “free trade” agreements
20 May 2020 - by Collective
To address the Corona pandemic and its severe consequences: the need to break with the tools of imperialist domination over our peoples: indebtedness and “free trade” agreements The people of North Africa and the Middle East/The Arab region are facing a great ordeal in light of the global health crisis caused by the Corona virus pandemic. The (...) -
A Feminist Strike against Debt
18 May 2020 - by Verónica Gago, Luci Cavallero
Recently, the transnational feminist movement has taken up the struggle against debt as a banner of struggle as part of the dynamics of the feminist strike. Around the world we have said, “We want ourselves alive and debt free!” (Argentina), “It is us against debt!” (Puerto Rico), “They owe us a Life!” (Chile), “We don’t owe, we won’t pay!” (Spain). (...) -
Argentina
Voluntary Termination of Debt
18 May 2020 - by Verónica Gago, Luci Cavallero
The feminist movement in Argentina, and across Latin America, has gained force and strength in recent years. That movement can be characterized not only by its massiveness in terms of the number of people on the streets, but also for how it has opened up debates and circulated concepts and diagnoses about multiple issues. That broad, (...) -
UNCTAD calls for aid plan and hard tackles creditors
15 May 2020 - by Milan Rivié
The coronavirus pandemic has triggered a real economic crisis whose effects will be as severe as they are long-lasting, even more so in the countries of the South. In recent days, the international financial institutions’ announcements to cancel their public foreign debt have multiplied. The United Nations Conference on Trade and Development (...) -
Along with Bernie Sanders and Alexandria Ocasio-Cortez, 300 parliamentarians from around the world are writing to the IMF and World Bank to cancel the debt
15 May 2020 - by Collective
Editor’s note : We are publishing a letter sent to the IMF and the World Bank by 300 worldwide parliamentarians. In this letter the 300 parliamentarians call for the “complete debt remission of the International Development Association’s (IDA) countries by all the main international financial institutions (IFIs)”, in order to strengthen the fight (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 11)
The World Bank and the IMF in Indonesia: an emblematic interference
13 May 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF will be 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the interests of the world’s populations. The WB and the IMF have systematically made loans to States as (...) -
The downward journey of stock markets, repurchase of shares and the story of fictitious capital
12 May 2020 - by Sankha Subhra Biswas
A severe crisis has gripped the world financial markets since early March 2020 and needless to say, India has not escaped this onslaught. The Indian stock markets are unable to halt this deep slide. On certain days the markets shows some strength but it keeps falling once again in the next trading sessions. In spite of great efforts, the (...) -
A book that reads almost like a thriller
11 May 2020 - by Philippe Poutou
Originally published in French and in Greek in March 2020 under the title Capitulation entre Adultes https://www.cadtm.org/Capitulation-entre-adultes-Grece-2015-une-alternative-etait-possible, the book will be available in English before the end of 2020, under the title Sellouts in the Room. The book looks back at Syriza coming to power in (...) -
The debt dilemma
11 May 2020 - by Michael Roberts
I have mentioned many times on this blog that rising global debt reduces the ability of capitalist economies to avoid slumps and find quick way to recover (and see ‘Debt Matters’ in my book, The Long Depression and also in World in Crisis). As Marx explained, credit is a necessary component in oiling the wheels of capitalist accumulation, by (...) -
Cancel the debt so doctors and nurses can keep saving lives
7 May 2020 - by Collective
A call for urgent action to support doctors and nurses on the frontlines of the Coronavirus pandemic. We are all health workers, nurses, doctors. Every day we are on the frontline fighting this virus. Every day we are on the wards, in the emergency rooms. Every day we see first-hand the suffering this sickness is causing. Many of us lack (...) -
Now more than ever, supporting abolition of the debt is a priority!
5 May 2020 - by Brigitte Marti
The covid 19 pandemic has demonstrated that the neoliberal system that leads the world is detrimental to health care systems, public services, and bad for people, especially for the poor and third world populations. We should remind the globalized neoliberal leadership that they asserted not long ago that austerity measures were indispensable (...) -
The scarring
4 May 2020 - by Michael Roberts
Optimism reigns in global stock markets, particularly in the US. After falling around 30% when the lockdowns to contain COVID-19 virus pandemic were imposed, the US stock market has jumped back 30% in April. Why? Well, for two reasons. The first is that the US Federal Reserve has intervened to inject humungous amounts of credit through (...) -
Self-Extinction of Neoliberalism? Don’t Bet on It
4 May 2020 - by Gilbert Achcar
This article was first published in New Politics. For the second time since the turn of the century, governments in North America and Europe are intervening massively with public funds and in conjunction with central banks to bail out entire sectors of the economy and prevent a general economic collapse. The ongoing rescue operations (...) -
President Macron never intended to cancel African debt
4 May 2020 - by Pauline Imbach
Had we been born yesterday, we would have been tempted to believe that the question of African debt was finally going to be taken seriously. Emmanuel Macron, wielding a magic wand, was about to cancel the continent’s debts, once and for all. Yet, like every bad magic trick, you could see how he did it and the illusion failed. Behind the (...) -
Should South Africa Follow the Law of the Jungle – or the Doctrine of Odious Debt?
30 April 2020 - by Patrick Bond
South Africa’s fierce debates over the costs and benefits of a proposed International Monetary Fund (IMF) bail out of $4.2 billion unveil the country’s massive weaknesses and potential strengths, at a time food protests have moved from the slums of Cape Town to the Johannesburg Central Business District. Unemployment already at 40% before the (...) -
The Greek tragedy: Act Three
27 April 2020 - by Michael Roberts
On Thursday night, EU leaders again failed to agree on how to provide proper fiscal support for hard-hit member states to cope with the health costs of the coronavirus pandemic and collapse of their economies from the lockdowns. The EU leaders have already agreed to a €540bn package of emergency measures. This sounds a lot but is really just (...)
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