Committee for the Abolition of Illegitimate Debt

Facebook event: https://www.facebook.com/events/855291287925215/

In the name of debt, the Troika Troika Troika: IMF, European Commission and European Central Bank, which together impose austerity measures through the conditions tied to loans to countries in difficulty.

IMF : https://www.ecb.europa.eu/home/html/index.en.html and the Eurogroup have forced Greece to continue to implement austerity policies. The July 13^th “agreement” blatantly demonstrated how the debt is a gun held by creditors and bankers to the temple of the people in order to impose austerity, insecurity and inequality. This only exacerbates the lack of legitimacy, the huge disparities and the instability of the European Union and the Eurozone.

Many movements throughout Europe refuse to bow to this blackmail and are seeking alternatives. The first objective of the conference will be to refute the false narrative of guilt (“we spent too much, now we must pay”) imposed by the elites. Debt audits took or are taking place in several countries and we now need to confront and publicise their results. In Greece, for example, a Debt Truth Commission has investigated the origins and the composition of the Greek public debt, and the impact on the economy and the population of the conditionalities attached to the loans. We need to build a common understanding about how debt was created and exploited as a systemic tool of domination in the context of the European Union and the Eurozone: in Greece, as everywhere else, debt is an instrument to subject the people to the interests of the wealthy.

A second objective is to discuss proposals aimed at getting out of debt through democratic means. We do not pursue a consensus but an open, sincere and cordial discussion on at least three sets of issues:

 which instruments should we mobilise to get out of the debt blackmail: repudiation, restructuring, monetisation, capital tax, etc...
 what are the relevant levels, under which political conditions, for the implementation of the measures: local, national, European...
 how can we mobilise public opinion and social movements in Europe against the debt blackmail ?

The European Citizens’ Assembly on debt will be an important step in the construction of the urgently needed strategic debate on debt, austerity and alternative European solutions.

Organisers:

European Attac Network, CADTM Europe
With the support of GUE/NGL