Debt in Northern countries
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World Debt Figures 2015 : Chapter 6
Overview of debt in the North and in the South
23 February 2015 - by Eric Toussaint, Daniel Munevar, Pierre Gottiniaux, Antonio Sanabria
Between 2007 and 2012 public debt in the countries concerned by this study increased by 67%, mainly in developed countries. As seen above, this sudden increase is related to the economic recession and the cost of bailing out (...) -
World Debt Figures 2015 : Chapter 7
Conclusion: the impact of the ‘debt system’
23 February 2015 - by Eric Toussaint, Daniel Munevar, Pierre Gottiniaux, Antonio Sanabria
Introduction : From the South to the North of the planet: a short history of the debt crisis and structural adjustment programmes Chapter 1 : Inequality in the world Chapter 2 : Overview of debt in the South: breakdown of external debt in (...) -
Defrauded For Profit- College Students Demand Debt Cancellation and Free Education
22 February 2015 - by Ann Larson
In November 2014, a group of 10 student debtors and supporters from the Debt Collective of students who manage to graduate from for-profit institutions leave owing money, and they typically carry twice the debt load of students from more (...) -
Syriza: “A grain of sand in the machinery”
11 February 2015 - by Eric Toussaint, Benito Pérez
Eric Toussaint interviewed par Benito Perez (of the daily Le Courrier, Geneva) Eric Toussaint • Specialist in public debt, former economic adviser of progressive South American governments, analyses Syriza’s first days at the head of the Greek (...) -
The lessons that can be drawn from the failure of the Greek 2012 restructuring
2 February 2015 - by Eric Toussaint, Maud Bailly
Éric Toussaint interviewed by Maud Bailly In 2012, the Troika did a restructuring of the Greek debt: what went wrong? The context was as follows: from early 2010 Greece was subjected to speculative attacks by the financial markets that (...) -
Debt: which strategies should Europe adopt?
2 February 2015 - by CADTM Europe
On Tuesday, January 20, 2015, SYRIZA and Podemos, in collaboration with the CADTM and the Bloco de Esquerda, organized a session of debates and confrontation of ideas at the European Parliament to discuss different strategies for countering (...) -
Audio
The Troika impose to Greece policies that are destroying social rights
27 January 2015 - by Eric Toussaint
“An audit committee of the Greek debt could show that 80% of the debt required by the troika is illegal,” said Mr. Toussaint on an interview with Christina Vasilaki, stoKokkino`s correspondent in Brussels. Éric Toussaint, Senior Lecturer at the (...) -
False Dilemmas: A Critical Guide to the Euro Zone Crisis
23 January 2015 - by Corporate Watch
With Syriza expected to win in the Greek elections this weekend, the public debate around the European crisis has been reignited, and it will soon get feverish. This is a great opportunity for us to disseminate radical analysis about the crisis, (...) -
Joseph Stiglitz shows that a suspension of debt repayments can be beneficial for a country and its people
20 January 2015 - by Eric Toussaint
Since the European Union started facing an abyssal debt crisis and several countries have been caught in the stranglehold of their creditors, the prospect of defaulting has become a real possibility. A majority of left-wing and orthodox (...) -
What if SYRIZA took the EU at its word and audited Greek debt?
14 January 2015 - by Eric Toussaint
Since the announcement that elections will be held in Greece on 25 January 2015, the prospect that they be won by SYRIZA has been presented as a menace to international public opinion and in particular, as a threat to the Eurozone. Yet those who (...) -
Press release
Hands off Greece, fighting back and resisting
1 January 2015 - by CADTM Europe
Even before the dissolution of the Greek parliament and the ensuing electoral campaign, International and European powers have launched a campaign of lies and threats aimed at cowering the Greek electorate away from voting for SYRIZA (United (...) -
Sarajevo: Hope and Social Rebellion in 2014
12 December 2014 - by Eric Toussaint
Sarajevo, capital of Bosnia-Herzegovina, a country ravaged by a war that between 1992 and the beginning of 1996 caused 100,000 deaths (exact figures are unavailable), is certainly looking a lot better but the social situation is dramatic. One (...) -
Why the Troika’s austerity programmes for Europe are illegal
6 October 2014 - by Renaud Vivien
Set up in 2010, the Troika consists of the European Commission, the Central European Bank (ECB) and the International Monetary Fund (IMF). In the same way as the World Bank has worked with the IMF to impose structural programmes on countries of (...) -
Six years later...
30 September 2014 - by Sushovan Dhar
We vividly remember how the collapse of Lehman Brothers almost destroyed the world financial system There was neither remembrance nor anamnesis of that horrible day which shook the financial world and brought it to its knees six years ago. On (...) -
Greece
Appeal for an international day of solidarity with the 595 cleaners of the greek ministry of economics
27 August 2014 - by Collectif
We propose to join forces with us and to organise together an International Day of Solidarity on the 20th of September. -
11 months struggle of 595 Greek public sector cleaners:
A handful of women show the way !
27 August 2014 - by Sonia Mitralias
Following 11 months of relentless hard struggle, relieved of their posts since last September and considered as “available”, that is kicked off after a 8 months period, 595 public sector cleaners have become the embodiment, the symbol, the soul, (...) -
Detroit (USA)
Using Bankruptcy to Steal Pensions
10 August 2014 - by Dianne Feeley
Caught between a rock and a hard place, the majority of the 32,000 Detroit city workers and pensioners did not bother to cast a vote over whether they were willing to have their pensions cut or would prefer to take their chances in court. (...) -
Movements against Spanish state debt
For a new social deal that can transform Europe
1 July 2014 - by Sergi Cutillas
Since the awakening of the squares in 2011 the political atmosphere in the Spanish state has changed dramatically. “Frustration, despair and fear, instead of being channelled towards the far right, have gone towards the creation of opportunities (...) -
Spain
Why we shouldn’t pay the debt: Reasons and alternatives
22 June 2014 - by PACD
To the anonymous pyrate Greed upon greed upon greed upon the World Bank of the open sea, heart closed to justice, blind eye resisting all light. Death for glory and the jaundice of gold for health, in the settling of accounts between empires (...) -
Spain
Half a million citizens in Spain now have control over municipal government accounts
22 June 2014 - by PACD
Over half a million people now have access to real participation in their municipality The OCMs: citizen bodies to control local governments (subtitles in: English, French, Italian, Greek, Portuguese and German). After [two years of (...) -
Greece needs a deep debt write off
6 June 2014 - by Daniel Munevar, Costas Lapavitsas
For further discussion see “Research on Money and Finance (RMF), Occasional Policy Paper 10” below. 1. Debt restructuring options for Greece It is generally agreed that public debt continues to pose a major problem for Greece. The IMF expects (...) -
Update on Detroit
3 May 2014 - by Dianne Feeley
Detroit’s emergency manager Kevyn Orr promises to complete the city’s bankruptcy by the time he leaves this fall. His plan of adjustment includes selling off the city’s assets and reducing its liabilities. The New York Times described the (...) -
First Outcomes of an International Debt Conference in Brussels
EL Advocates for Remodelling of European Financial Institutions
On 10 April the Party of the European Left (EL) and transform! europe jointly organized an International Conference in Brussels. The aim of the meeting was to explore the alternatives to solve the problem of the debt and stop the austerity (...) -
Alternatives to reverse the crisis in Europe
22 April 2014 - by Eric Toussaint
This text proposes a series of concrete alternatives to counter the current crisis shaking Europe. It presents nineteen immediate measures that should be taken vis-à-vis finance in general and the banking sector in particular. In addition to (...) -
Iceland
Replacing the neoliberal model with a sustainable model
17 April 2014 - by Lilja Mósesdóttirheld
Presentation on the Iceland case by Dr. Lilja Mósesdóttirheld at the conference: "TOGETHER we can put an end to the problems of debt and austerity in Europe !” by the European Left, April, 10th, 2014, (...)
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