All the articles
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The Debt Deal Is a Tragedy
31 May 2023 - by James K. Galbraith
Two men emerged from the Oval Office. One of them, President Joe Biden, said of the deal they’d just reached that it “reduces spending while protecting critical programs for working people and growing the economy for everyone.” The other, House (...) -
Left Strategy in the Time of the IMF Counter-Revolution
30 May 2023 - by Devaka Gunawardena
Less than a year has passed since the 9th July uprising last year in Sri Lanka. Nevertheless, the contours of the present regime are well established. A loose network of progressive activists and trade unions have rightly kept the basic (...) -
The two Bs on inflation
29 May 2023 - by Michael Roberts
A recent paper by mainstream heavyweights, Ben Bernanke (former Federal Reserve chief) and Olivier Blanchard (former chief economist at the IMF) has raised some eyebrows. Bernanke and Blanchard seek to argue that the inflationary spike in the (...) -
When President Joe Biden says that the US never denounced any debt obligation it’s a lie to convince people that there is no alternative to a bad bi-partisan agreement
Debt ceiling: Radio Silence Concerning United States President Franklin Roosevelt’s Repudiation of Debts
28 May 2023 - by Eric Toussaint
During your education, did you learn that during the 1930s the government of the USA unceremoniously repudiated a central provision of debt contracts that represented phenomenal sums? Do any history books analyze that act? Historical narratives (...) -
Ukraine: Resisting creditors
23 May 2023 - by Eric Toussaint, Sushovan Dhar
Sushovan Dhar: What can be said about Ukraine’s debt 15 months after Russia invaded its territory? Éric Toussaint: I must first of all insist that Russia’s invasion of Ukraine is an unjustifiable and morally unacceptable act of aggression. Faced (...) -
Greece: another chapter
22 May 2023 - by Michael Roberts
The Greek election results validate Michael Roberts’ analysis and projections. Unfortunately, the right has triumphed because Syriza is not a real alternative [ed.]. Greece has a general election today. The conservative New Democracy party (...) -
Debt : Eric Toussaint at Université Paris Cité on January 31, 2023
20 May 2023 - by Eric Toussaint
Eric Toussaint, spokesperson for CADTM International, spoke on the debt crisis and the global capitalist system at the Economic Policies for Global Transition (EPOG) seminars. The seminar was held at the Université Paris Cité on January 31, (...) -
We still need a debt jubilee: 25 years on from the Birmingham human chain
19 May 2023 - by Tim Jones
Twenty years ago today, as a wide-eyed 16 year old, I went on my first ever protest. Travelling to Birmingham with a group from my church, we joined 70,000 others to surround the G8 summit, demanding debt cancellation for 52 impoverished (...) -
Pakistan’s debt from China becomes burden as CPEC does not generate enough growth
16 May 2023 - by Abdul Khaliq
Since 2013, Pakistan’s historical relationship with China has taken on a geopolitical role through the launch of the China-led infrastructure connectivity project, the China-Pakistan Economic Corridor (CPEC), a key part of the Belt and Road (...) -
The Fitch rating agency downgraded France’s rating.
France Shown Yellow Card
13 May 2023 - by Yvette Krolikowski
On Friday 28 April 2023, the Fitch financial rating agency downgraded France’s rating from AA to AA- with ’stable outlook’. The agency said, “Political deadlock and (sometimes violent) social movements pose a risk to Macron’s reform agenda and could (...) -
The perilous lives of Indian workers
12 May 2023 - by Sushovan Dhar, Hitesh Potdar
With economic growth and industrial progress, India has witnessed an unfortunate consequence: a disturbing rise in workplace accidents. Countless lives are lost or irreversibly altered due to inadequate occupational safety measures and hazardous (...) -
Resisting the Shock Doctrine: Ukraine, Debt, and Reconstruction
12 May 2023 - by Eric Toussaint, Sushovan Dhar, Ashley Smith, Yuliya Yurchenko
A discussion of Ukrainians’ struggle to cancel their country’s debt as part of the global movement against neoliberalism. In the midst of Russia’s imperialist war, Ukraine’s left, unions, and popular movements have struggled to cancel their (...) -
France: What happens when Macron has already been defeated but the great popular movement has not yet won?
9 May 2023 - by Yorgos Mitralias
After almost four months (!) of enormous mobilizations by the workers’ and popular movement, unprecedented in post-war France (!), the conclusion of the French unions’ struggle against the pension (anti-)reform might appear to be obvious: the (...) -
The Avocados of Wrath
8 May 2023 - by GRAIN
“This little orchard will be part of a great holding next year, for the debt will have choked the owner. This vineyard will belong to the bank. Only the great owners can survive, for they own the canneries too... Men who have created new fruits (...) -
Britain’s royal rip-off
7 May 2023 - by Michael Roberts
Today in Britain King Charles III will be crowned in a ‘coronation’. All the other remaining monarchies in Europe (Scandinavia, Netherlands, Belgium, Spain) don’t bother with a coronation, but the British monarchy has had a much more prominent (...) -
Rates up, economy down
5 May 2023 - by Michael Roberts
The two main central banks in the advanced capitalist economies, the US Federal Reserve and the European Central Bank (ECB), raised their ‘policy’ interest rates again this week. The policy rate sets the floor for all borrowing rates in these (...) -
First Republic – the case for public ownership
4 May 2023 - by Michael Roberts
The collapse of First Republic Bank is the latest chapter in the rolling banking crisis in the US. This was the second largest banking collapse in US financial history. It demonstrates yet further the case for public ownership of the banking (...) -
China’s Overseas Investment in the Belt and Road Era
4 May 2023 - by Globalization Monitor
This report aims to provide an overview of some of the issues involved related to Chinese overseas investment and the consequences for recipient countries, the people and the environment. It is hoped that awareness can be raised with a view to (...) -
Madrid Manifesto against Illegitimate Debt and Vulture Funds
26 April 2023 - by CADTM
From Friday, April 21, to Sunday, April 23, 2023, the days against illegitimate debt and vulture funds were held in Madrid. These were organised by ATTAC Spain, CADTM International, the Platform against Vulture Funds, the Citizen Audit of the (...) -
A multipolar world and the dollar
24 April 2023 - by Michael Roberts
Christine Lagarde, the head of the European Central bank (ECB), made an important ‘keynote’ speech last week to the US Council of Foreign Relations in New York. It was important because she analysed recent developments in global trade and (...)
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