Debt in Northern countries
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Series: Understanding what happened in Greece in 2015 when hope came from Athens
Secret negotiations and dashed hopes [Part 9]
29 April 2025 - by Eric Toussaint
At the end of January 2025, the main leader of Syriza, Alexis Tsipras, became Prime Minister and appointed Yanis Varoufakis, a left-wing economist close to his party, as Finance Minister. It is very important to take the time to analyse the (…) -
Series: Understanding what happened in Greece in 2015 when hope came from Athens
Towards the first capitulation and the disastrous 20 February 2015 agreement with the Eurogroup [Part 7]
14 April 2025 - by Eric Toussaint
In the days and weeks following the ECB’s attack on Greece on 4 February 2015, intense negotiations took place, culminating in the disastrous agreement of 20 February, confirmed on 24 February. The agreement extended the second Memorandum, which (…) -
US economy: an exceptional boom or a bubble to burst?
18 December 2024 - by Michael Roberts
Recently, there has been a spate of articles and commentary about ‘US exceptionalism’, namely that the US economy is bounding forward in terms of economic growth, hi-tech investment and productivity, leaving the rest of the world behind. And so (…) -
G7: Whether or not to maintain the suspension of Ukrainian debt payments
23 May 2024 - by Eric Toussaint
Why is the G7 discussing Ukraine’s debt? For more than a year, the leaders of the main powers allied against Russia following its invasion of Ukraine have been debating at the G7 (Canada, France, Germany, Italy, Japan, the United Kingdom and (…) -
Should we cancel national debt owned by the ECB ?
3 October 2023 - by Matthieu Bordenave
In a time when nations are seeking methods to fund the COP26 objectives and revive the economy that has been impacted by the 2008 financial crisis and the re- cent COVID-19 crisis, the issue of national debt resurfaces. The levels of private and (…) -
Real Peace in Ukraine Means Ending Russian Invasion and US-EU Neocolonial Debt
1 July 2023 - by Blanca Missé
CADTM is very happy to republish the article Real Peace in Ukraine Means Ending Russian Invasion and US-EU Neocolonial Debt, which first appeared in Truthout. The article is predicated on an earlier discussion, Resisting the Shock Doctrine: (…) -
The Supreme Court Doesn’t Have the Final Say on Student Debt
21 June 2023 - by Matt Bruenig
If the Supreme Court rules against Joe Biden on student debt, it will be a major blow. But there is a more straight forward path for Biden to unilaterally forgive a lot of student debt. In August of last year, Joe Biden announced that he (…) -
Next Time, Dammit, Just Default
12 June 2023 - by James K. Galbraith
The debt deal is now law. Far-right Republicans were unhappy, because it doesn’t cut spending by enough. Center-left Democrats (there are no far-left Democrats in Congress) are unhappy, because they got nothing: It’s all concessions to win (…) -
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, (…) -
25 November - International day for elimination of violence againt women
Violence against women*: a systemic issue
30 November 2022 - by CADTM International
(* The term ‘woman’ applies to any person who defines herself as female) On the International Day for the Elimination of Violence against Women the CADTM International network highlights the urgent need for a systemic approach to this global (…) -
Call
Why Eurozone countries’ debt to the ECB must be cancelled
7 December 2021 - by Eric Toussaint, Sonia Mitralias, CADTM Europe, Paul Murphy, Miguel Urbán Crespo, Andrej Hunko, Cristina Quintavalla, Manon Aubry, Leïla Chaibi
Since the beginning of the coronavirus pandemic public debt in the eurozone has increased by an average of 20%. The reason for such an increase is straightforward: instead of finding the necessary new resources by taxing the wealthiest 1% and (…) -
[Video] Should debts held by the ECB be cancelled?
24 September 2021 - by Eric Toussaint, Renaud Lambert, Aline Fares, Benjamin Lemoine
CADTM Summer University 2021: Global Crisis, Debt Cancellation for Social Justice! Thursday 23 September, 6.30-8.30 p.m. – Should debts held by the ECB be cancelled? With Renaud Lambert (Le Monde Diplomatique), Benjamin Lemoine (researcher (…) -
World situation report
22 June 2021 - by Eric Toussaint, CADTM International, Sushovan Dhar, Maria Elena Saludas, Omar Aziki, Broulaye Bagayoko, Fatima Zahra El Beghiti
We publish a written version of the report on the international situation presented at the meeting of the CADTM International Shared Secretariat held on Tuesday 1 June 2021. ---------------------------------------- Over the last few months (…) -
The Earldom of Larios Uses Debt Blackmail to Build a Golf-Course on Agricultural Land
29 April 2021 - by Eric Toussaint
Here we have a concrete example, in 2021, that plunges us into the debt system and history as it has been created through the class struggle. As I am short of time, I shall tell the story succinctly. --------------------------------- It (…) -
[Video] « SYSTÅM DËBT - How to become a wealthy creditor! »
24 March 2021 - by CADTM, ZinTV, Entraide et Fraternité
In this video with subtitles in 4 languages (FR, NL, EN, ES), ZIN TV, Entraide et Fraternité and the CADTM offer you their explanation of the “debt system” in the form of a tutorial cynically addressed to capital holders who benefit from this (…) -
David Graeber discusses Strike the Debt and Detroit
3 September 2020 - by CADTM, David Graeber, Jonas Nunes de Carvalho
David Graeber passed away in Venice on September 2, 2020 at the age of 59. The CADTM gives homage to the memory and work of David Graeber, in particular his book, DEBT, THE FIRST 5000 YEARS published in 2013, and his action in support of the (…) -
Capitulating to adults
31 May 2020 - by Michael Roberts
During the pandemic lockdown, I have been able to read a range of new economics books, some Marxist but most not. It seems that many leading economists have published new stuff in the last two months. Over the next few weeks, I shall post some (…) -
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 (…) -
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 (…) -
The Varoufakis-Tsipras line was doomed to fail from the word ’Go’
2 January 2020 - by Eric Toussaint
Abstract This article on Varoufakis’s book, Adults in The Room: My Battle with Europe’s Deep Establishment (2017) and about what happened in Greece in 2015 is a guide for left-leaning readers who are not happy with the dominant narrative meted (…) -
Yanis Varoufakis’s Account of the Greek Crisis: a Self-Incrimination
Tsipras and Varoufakis advance towards final capitulation
1 October 2019 - by Eric Toussaint
Adults in the Room, Costa-Gavras’s new film based on the book of the same title by former Finance Minister Yanis Varoufakis, will be released from 6 November in France and Belgium (see trailer: https://www.youtube.com/watch?v=U3aAyJKOSO0). We (…) -
As President, Bernie Should Cancel All Student Debt
24 June 2019 - by Ben Beckett
The billions of dollars in student loan debt are an economic and moral crisis. Bernie Sanders should promise to wipe it all out. In the United States, education is supposed to be an equalizer, and higher education in particular is key to (…) -
Can the Italian debt be repudiated?
24 June 2019 - by Cristina Quintavalla, Antonio De Lellis
Debt is not a natural disaster, nor is it the effect of excessive social expenditure: its odious nature derives from its negative consequences on the population. The Italian case. “If Salvini really wanted to fight Brussels, as he says, he (…) -
Debt is the Hidden Issue in These Elections
26 May 2019 - by UndebtedWorld
The citizens of the European Union are called to vote this week for the European Parliament. It is not a real parliament, and it lacks prospects for becoming one, since all important decisions are taken by the unelected heads of the European (…) -
Debt is the Hidden Issue in These Elections
21 May 2019 - by UndebtedWorld
The citizens of the European Union are called to vote this week for the European Parliament. It is not a real parliament, and it lacks prospects for becoming one, since all important decisions are taken by the unelected heads of the European (…)
- Depression
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- Debt in History
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- Initiative for the heavily indebted poor countries (HIPCs)
CADTM
COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
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