Comité pour l'abolition des dettes illégitimes

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Germany

The 1953 London Debt Agreement on Germany’s debt

26 February 2023 - by Eric Toussaint

Germany benefited from the cancellation of most of its debt as of February 27, 1953. This cancellation was instrumental in helping the country regain its position as the leading economic power on the European continent. Since then, no other (...)
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 8)

Why the 1953 cancellation of German debt won’t be reproduced for Greece and Developing Countries

27 March 2020 - by Eric Toussaint

In 2020, the World Bank (WB) and the IMF are 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 (...)
Climate change and imperialism: what connects the Amazon fires and the EU-Mercosur agreement?

2 October 2019 - by Aleksandar Matković

From the crisis to the Mercosur agreement There have been many discussions on the next global crisis (including Adam Tooze and Ann Pettifor, and the Marxist economists Michael Roberts and John Smith), and I’ve also written and talked about it (...)
In February 1953 the allied powers cancelled part of Germany’s debt. What about Greece?

24 February 2019 - by Eric Toussaint, Hervé Nathan

The following interview of Eric Toussaint by the French weekly Marianne was first published in February 2015. It remains just as relevant in 2019 on the anniversary of the London Agreement on German External Debts of 27 February 1953 which (...)
Enough is Enough!

6 November 2017 - by Ende Gelände

Buir, Germany, November 5th 2017 Ende Gelände blocked the Hambach coal mine today, the German energy giant RWE had to stop three excavators and one conveyor belt. Ende Gelände action sends out powerful signal for an immediate exit from coal in (...)
How Europe cancelled Germany’s debt in 1953

27 February 2017 - by Jubilee Debt Campaign

The 1953 London Debt Accords show that European leaders know how to resolve a debt crisis in the interests of justice and recovery. Here are four key lessons for Greece’s debt crisis today. On 27 February 1953, an agreement was signed in London (...)
The Debt Reduction Germany Received in 1952 (and 1990)

5 March 2015 - by Oscar Ugarteche Galarza

The largest debt problems in terms of GDP faced in financial history have belonged either to the United States or to European Governments. Large debt problems in developing and emerging nations have usually stemmed out of a drop in GDP size due (...)
Transnational actions against the European Central Bank’s opening: March 18^th 2015 in Frankfurt

Our time to act has come!

17 February 2015 - by Blockupy Frankfurt

Join the transnational actions against the ECB’s opening on March 18th in Frankfurt! It is our crucial chance as well as our responsibility to build a common, effective force from below – if they want capitalism without democracy, we say, we want (...)
EU follows the German example

18 January 2015 - by Eric Toussaint

Between 2003 and 2005, Gerhard Schröder’s socialist government gave German employers a helping hand in imposing sacrifices on the workers. The paper En finir avec la compétitivité (Putting an end to competition), published jointly by ATTAC and the (...)
Blockupy

Invitation to Blockupy’s European Action Conference

9 October 2013 - by Blockupy Frankfurt

Against the European austerity regime, against the rule of the EU-Troika, for the transnationalisation of our resistance, for real democracy! Invitation to Blockupy’s European Action Conference, November 22nd to 24th 2013 in Frankfurt. Call (...)
Greece and Spain helped postwar Germany recover. Spot the difference

27 February 2013 - by Nick Dearden

Sixty years ago, half of German war debts were cancelled to build its economy. Yet today, debt is destroying those creditors Sixty years ago today, an agreement was reached in London to cancel half of postwar Germany’s debt. That cancellation, (...)
Greece-Germany: who owes who? (Part 2) Creditors are protected, the people of Greece sacrificed

6 November 2012 - by Eric Toussaint

See the first article in the series: « Greece-Germany: Who Owes Who ? (1) The Abolition of the German Debt in London, 1953 ». There is a moral obligation to rise up against the blatant lies underlying the feigned solidarity purportedly shown by (...)
Greece-Germany: who owes who? (1) London 1953: cancellation of the German debt

1 October 2012 - by Eric Toussaint

Greek version Since 2010, in the stronger countries of the eurozone most political leaders supported by mainstream media have flaunted their so-called generosity towards the Greek people and other weaker countries in the eurozone that are (...)
Transformation by Embrace

6 July 2007 - by german-foreign-policy.com

CARACAS/QUITO (Own report) - Through a revision from a confrontational strategy to one of “embrace,” the Konrad Adenauer Foundation (KAS) is seeking a regime change in Venezuela. This was learned from reports on a conference that the CDU Party (...)
Interview of Eric Toussaint

About the policy of IMF and World Bank and the German government’s policy toward the Bretton Woods institutions

28 June 2007 - by german-foreign-policy.com

LIEGE german-foreign-policy.com spoke with Eric Toussaint. Eric Toussaint is president of the Committee for the Cancellation of the Third World Debt (CADTM) in Liège (Belgium). He wrote “The World Bank. A never ending coup d’etat” (London 2007). (...)
The Marshall Plan and the Debt Agreement on German debt

24 October 2006 - by Eric Toussaint

The present contribution presents an analysis of the bilateral economic policies developed by Washington towards its allies in the Cold War context. The Marshall Plan replaced the World Bank’s intervention since the US came to the conclusion that (...)
Free Market Corruption, Neo-liberal Pretexts

Poor People Can’t Be Engineers

Newsweek recently ran an article on money laundering in Latin America. It identified Nicaragua’s ex-President Arnoldo Aleman as one of a super-corrupt elite along with Mexico’s Carlos Salinas and Guatemala’s Alfonso Portillo. But, these individuals (...)