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Finance against people

Recent Developments of the Global Campaign to Dismantle Corporate Power

14 March 2016 - by Radio Mundo Real

Real World Radio has interviewed Brid Brennan from the Transnational Institute (TNI) to discuss recent works of the UN Intergovernmental Working Group (IGWG) in Geneva, including side events of acknowledgement for Berta Caceres, and the (...)
Declaration of Attac Argentina

Reject the Imminent Agreement with the “Vulture Funds”

8 March 2016 - by ATTAC/CADTM Argentina

The worrisome Argentine “Public Debt” has its roots in an illegal and illegitimate debt process. It started with the Dictatorship and involves all governments elected from 1983 up to now. The bonds, that the “vulture funds” are claiming payment of, (...)
Stop feeding the vulture funds: Argentina’s agreement to hand over $4.65bn proves the world needs a new, fairer insolvency regime

2 March 2016 - by Bodo Ellmers

Argentina’s ‘agreement’ to award vulture funds US$4.6bn (€4.26bn) demonstrates why nations need a new global system to resolve debt issues and avoid being held to ransom.
The Privatising Industry in Europe

24 February 2016 - by Sol Trumbo Vila, Matthijs Peters

Privatisations of state-owned assets have become a central plank of EU/Troika agreements with debtor nations such as Greece, Ireland, Italy, Spain and Portugal, but there has been little examination of their track record nor an examination of (...)
Rich country governments put national interests ahead of world’s poorest

22 February 2016 - by Eurodad

Governments of rich states today cleared the way for the diversion of development aid away from those most in need. Development ministers at a meeting of the OECD Development Assistance Committee (DAC) in Paris agreed to allow member countries (...)
No Need to Negotiate with Vulture Funds

22 February 2016 - by Renaud Vivien

Since his victory in the November elections, the new President of Argentina, Mauricio Macri, has given priority to resolving the dispute between his country and “vulture funds” – investment funds that buy up heavily marked-down sovereign debt from (...)
Corporate vision of the future of food promoted at the UN

19 February 2016 - by La Via Campesina, GRAIN, ETC

Corporate vision of the future of food promoted at the UN: More than 100 civil society organizations raise alarm about FAO biotechnology meeting (Rome, Monday 15 February, 2016) Just when the biotech companies that make transgenic seeds are (...)
Videos: Documentary series about the TTIP

10 February 2016 - by Art.35 Films

Documentary series about the TTIP, the Transatlantic Trade and Investment Partnership, which the United States and the European Union are negotiating. TTIP: The privatizacion of justice TTIP: Energy and climate change TTIP: A corporate (...)
Reform of the IMF lending framework: The IMF bails out from bailouts

3 February 2016 - by Bodo Ellmers

The International Monetary Fund (IMF) has approved a new reform of its exceptional access framework. The key step made on 29 January 2016 is to remove the systemic exemption clause. This is the clause that has made IMF participation in the mega (...)
62 billionaires now control half of world’s wealth

25 January 2016 - by Farooque Chowdhury

The richest 62 persons now control more than half of the world’s money, according to a new Oxfam report. Total wealth of these individuals is the same as that of the world’s poorest 3.6 billion people. The rich-poor gap is growing wider. The (...)
Video: Greece falls prey to ECB diktats and blackmail

19 January 2016 - by Eric Toussaint

The following video shows a talk given at the European Parliament in Brussels by Eric Toussaint on 14 January 2016 on the occasion of the international meeting organized by the left-wing European Parliamentary Group GUE/NGL (European United (...)
How microcredit has hurt the poor and destroyed informal business

4 January 2016 - by Milford Bateman

This is part of a series of articles The Conversation Africa is running on financial inclusion and micro credit and their role in economic development. Post-apartheid South Africa provides ample evidence of the debilitating trajectory of the (...)
Resisting WTO’s culture of terror and impunity

30 December 2015 - by Yash Tandon

This article seeks to explain the process leading to WTO’s Tenth Ministerial Conference (WTO MC10). The next (final article in this series) will focus on the substance of negotiations. Of course, you cannot separate the process from the (...)
From Zorro to Zombie: the rise and fall of the microcredit movement

28 December 2015 - by Milford Bateman

Thirty years ago, the international development community was in a state of high excitement. The perfect market-affirming solution to poverty in developing countries had apparently been found. Microcredit, also known as microfinance. This (...)
Hedge funds vs Greece: lobbyists want “cheap ticket” to speculation

18 December 2015 - by Corporate Europe Observatory

This summer Greece’s financial authorities fined 20 hedge funds for speculating against the Greek economy. Now, the main global lobby group for hedge funds is trying to tweak the EU’s rules so they can have a free play in the future. Global (...)
Three reasons why the Paris climate deal is a fraud

15 December 2015 - by Jerome Roos

World leaders are congratulating themselves on a set of promises they will never be able to keep without taking on the immense power of the fossil fuel industry. World leaders and the international media are hailing the deal struck in Paris as (...)
IMF in Ukraine: shock therapy in times of armed conflict

11 December 2015 - by Tiago Stichelmans

Last week, the IMF announced that the disbursement of the third tranche, or portion, of the IMF programme in Ukraine was dependent on the adoption by Ukrainian authorities of the 2016 budget and a tax reform agreed as part of the IMF bailout. (...)
Paying climate debts for global climate justice

4 December 2015 - by Helmut Selinger

The issue of worldwide climate injustice has been high on the agenda of the global climate movement for several years. This injustice stems from the fact that many countries of the Global South are suffering the worst effects of anthropogenic (...)
Bankocracy – a review

30 November 2015 - by Pete Green

As I was preparing this review a couple of items in the news caught my eye. One was that George Osborne in Brussels was arguing for a reduction in the regulatory burden on the City of London which he claimed was damaging the ability of financial (...)
Cooking the planet

17 November 2015 - by Corporate Europe Observatory

One year on from the appointment of Cañete and Šefčovič, Corporate Europe Observatory takes a look at who the commissioners responsible for climate and energy policies are meeting, and finds Big Energy dominating the agenda. According to data (...)
Influence of IMF and other IFIs in Central and Eastern Europe

17 November 2015 - by Eurodad

The role of International Financial Institutions (IFIs) – particularly the International Monetary Fund (IMF) – in Central and Eastern Europe (CEE) has not been the central focus of many analyses in the past. To address this gap, four case studies (...)
Sen. Bernie Sanders: From Greece to Puerto Rico, the Financial Rules Are Rigged to Favor the 1%

15 November 2015 - by Democracy Now!

Democratic presidential hopeful Bernie Sanders recently convened a panel of economists in Washington to discuss the debt crisis in Greece and throughout the world. In his opening statement, Sanders talked about the debt crisis in Greece as well (...)
R.I.P. Lessons from the crisis

5 November 2015 - by Finance Watch

Imagine that you fell into a long, long sleep shortly after the financial crisis in 2008… and woke up on 30 September this year, the day the European Commission presented its new Action Plan for a “Capital Markets Union”. You might rub your eyes in (...)
The Forthcoming Adjustment Shock

4 November 2015 - by Isabel Ortiz, Matthew Cummins

Analysis of the latest IMF expenditure projections for 187 countries between 2005 and 2020 reveals that there have been two distinct phases of government spending patterns since the onset of the global economic (...)
Doing Business 2016’s reformed indicator will favour land-grabbing

30 October 2015 - by Tiago Stichelmans

the World Bank makes it easier for foreign investors, at the potential cost of local farmers