Europe

• Video

  Coordinated efforts in Europe and North Africa to fight against Debt and Austerity

  by Auditoria 15 M

  16 April 2012

  The International Citizen Debt Audit Network – ICAN, has been born under the slogan “We don’t owe! We won’t pay!”

• Video

  Banking Crisis in Europe: Origins and Perspectives

  
  by Daniel Munevar

  20 March 2012

  Présentation by Daniel Munevar during OID-CADTM Training session (12 and 13 December 2011 in Belgium): What do banks do and why is the debt they claim from governments illegitimate? How do they get their money? What do they do with people’s savings? Relationships between banks and the ECB, the Fed, central banks of EU member states. What are CDS? What is the interbank market? What have they done since the 2007-2008 crisis? How does the debt secundary market work? Bank nationalisations since (...)

• Eric Toussaint: “Europe Gets Shock Therapy like Latin America in the 1980s and 1990s”

  by Carlos Bedoya, Eric Toussaint

  2 March 2012

  How would you define the predicament of those EU countries which, like Greece, have huge public debts? Their situation can be compared to that in Latin America during the latter 1980s. In what ways? The debt crisis in Latin America erupted in 1982. The crisis of the private banking sector started in the US and in Europe in 2007-2008 and by 2010 had turned into a crisis of the sovereign debt triggered (among other things) by the socializing of private banks’ losses and by lower tax (...)

• Debt Crisis in Europe: What to expect in 2012?

  
  by Daniel Munevar

  6 February 2012

  The first weeks of January have served to dispel any illusions about the ability of European governments to deal effectively with the debt crisis that is sweeping the continent. On January 13th, in an unprecedented move, the rating agency Standard & Poors, downgraded the sovereign debt rating of 9 European countries. The main countries affected by the downgrade were France, who lost its AAA rating, and Portugal, whose debt is now rated as junk in international markets. Just three days (...)

• Breaking Up? A Route Out of the Eurozone Crisis

  by Costas Lapavitsas

  7 December 2011

  An urgently needed discussion of the future of the eurozone, the possibility of exit, and what that would mean for the people of Europe. The authors: C. Lapavitsas, A. Kaltenbrunner, D. Lindo, J. Meadway, J. Michell, J.P. Painceira, E. Pires, J. Powell, A. Stenfors, N. Teles, L. Vatikiotis Read the full report on http://www.researchonmoneyandfinanc... Executive summary 1. The Eurozone crisis is part of the global turmoil that began in 2007 as a US real estate crisis, became a global (...)

• The EU Crisis Pocket Guide

  by Transnational Institute

  21 November 2011

  A useful pocket guide on how a crisis made in Wall Street was made worse by EU policies, how it has enriched the 1% to the detriment of the 99%, and outlining some possible solutions that prioritise people and the environment above corporate profits. The EU Crisis Pocket Guide Contents How a private debt crisis was turned into a public debt crisis and an excuse for austerity The way the rich and bankers benefited while the vast majority lost out The devastating social consequences (...)

• Dexia Krach: The start of a domino effect in the EU ? *

  
  by Eric Toussaint

  8 October 2011

  In the early days of October 2011 the virtual bankruptcy of the Franco-Belgian bank Dexia is yet another sign of how deep is this crisis that brings governments to serve public money to private interests. Dexia’s krach shows that it is the private banks that are the weak link in the debt crisis whereas governments and mainstream media highlight the public debt aspect of the crisis. In September 2011, faced with the weight of menaces that loomed over the whole private financial sector (...)

• In the eye of the storm: the debt crisis in the European Union (7/7)

  Alternative ways out of crisis

  
  by Eric Toussaint

  26 September 2011

  In July-September 2011 the stock markets were again shaken at international level. The crisis has become deeper in the EU, particularly with respect to debts. The CADTM interviewed Eric Toussaint about various facets of this new stage in the crisis. Part 7: Alternative ways out of crisis CADTM: During this talk, you have claimed that Greece is forced to choose between two options: either to eat humble pie, resigning itself to turning to the Troika; or to refuse the dictates of the (...)

• In the eye of the storm: the debt crisis in the European Union (6/7)

  Has the crisis peaked yet

  
  by Eric Toussaint

  24 September 2011

  In July-September 2011 the stock markets were again shaken at international level. The crisis has become deeper in the EU, particularly with respect to debts. The CADTM interviewed Eric Toussaint about various facets of this new stage in the crisis. Part 6: Has the crisis peaked yet CADTM: Has the crisis peaked yet? Eric Toussaint: The crisis is far from over. Even if we only consider the financial aspects, we must be aware that private banks have continued to play an extremely dangerous (...)

• In the eye of the storm: the debt crisis in the European Union (5/7)

  CDS and rating agencies: factor(ie)s of risk and destabilization

  
  by Eric Toussaint

  23 September 2011

  In July-September 2011 the stock markets were again shaken at international level. The crisis has become deeper in the EU, particularly with respect to debts. The CADTM interviewed Eric Toussaint about various facets of this new stage in the crisis. Part 5: CDS and rating agencies: factor(ie)s of risk and destabilization |1| CADTM: You haven’t talked about Credit Default Swaps (CDSs) yet. Eric Toussaint: CDSs are a derivative financial product which is not submitted to any form of public (...)

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