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Finance against people

The ECB: Not just another vulture fund

19 August 2015 - by Olivier Bonfond, Renaud Vivien

On August 20, the European Central Bank (ECB) is expecting Greece to repay another € 3.2 billion. Drawing on the conclusions articulated in the report of the Truth Commission on the Greek Public Debt, the government could refuse to pay this (…)
Closing speech of PM Alexis Tsipras in the European Parliament on 8^th July 2015

9 July 2015 - by Alexis Tsipras

This meeting should have taken place a long time ago. Because the debate we are having today is not just about Greece’s future, it’s about the future of the Eurozone. And indeed, we cannot have this debate behind closed doors. We do not bear (…)
Introductory speech of PM Alexis Tsipras in the European Parliament on 8^th July 2015

9 July 2015 - by Alexis Tsipras

Honorable Members of Parliament, it is an honor for me to speak in this veritable temple of European democracy. Thank you very much for the invitation. I am honored to address the elected representatives of the peoples of Europe, at a critical (…)
An Ethical Approach to Public Debts - The Need for a Global Discussion

3 July 2015 - by Thomas Reinert, Ricardo Farinha

This paper asks in how far public debts can be categorized and on which ethical grounds their legitimacy is to be assessed. It attempts to construct a line of reasoning that has the harm principle as the nexus between two broad ethical schools of (…)
The World Bank’s Long War on Peasants

14 May 2015 - by Tanya Kerssen, Eric Holt-Giménez

It is difficult to overstate the degree to which the IMF and World Bank’s neoliberal economic policies contribute to extreme vulnerability for farmers and peasants. “The corporate revolution will collapse if we refuse to buy what they are (…)
The support of the World Bank to forced displacement

18 April 2015 - by Eric Toussaint

The World Bank appears to be admiting that its has been in the wrong on matters concerning the displacement of populations. The International Consortium for Investigative Journalism (ICIJ) has enquired into the World Bank’s actions in fourteen (…)
IMF has made €2.5 billion profit out of Greece loans

8 April 2015 - by Jubilee Debt Campaign

Ahead of the payment of €462 million by Greece to the IMF on Thursday 9 April, figures released by the Jubilee Debt Campaign show that the IMF has made €2.5 billion of profit out of its loans to Greece since 2010. If Greece does repay the IMF in (…)
IMF in Greece: a “slush fund” for “its political masters”

1 April 2015 - by Bretton Woods Project

In February, Greece agreed a four-month extension to its loan from the European Central Bank (ECB) and European Commission (EC), which along with the IMF comprise the Troika of lenders to eurozone states since 2010. The loan is subject to a (…)
HSBC India mired in controversies after the Swiss Leaks

24 March 2015 - by Sushovan Dhar

Following the Swiss Leaks implicating HSBC of actively promoting money-laundering and tax-heaven, the bank has hit the global headlines, but for wrong reasons. The trove of secret documents from HSBC Geneva reveals names of account holders and (…)
Madame Lagarde, Herr Junker, you do not adhere to your own commitments!

5 March 2015 - by Renaud Vivien

A few short days before the general election in Greece, the IMF and the European Commission are doing it again. Warning against any measure of debt relief, Christine Lagarde, Managing Director of the International Monetary Fund, stated that ‘a (…)
Banks versus the People: The Underside of a Rigged Game!

12 January 2013 - by Eric Toussaint

The first three parts of the series ’Banks versus the People: the Underside of a Rigged Game!’ published in 2012, have been collected together in this one document. This series is to be continued during January 2013. Part 1 : 2007-2012: Six (…)
Series: Banks versus the People: The Underside of a Rigged Game! (Part 2)

The ECB and the Fed at the service of the major private banks

10 December 2012 - by Eric Toussaint

Part One of this series “2007-2012: Six years that shook the banking world” was published on 2nd December, 2012. The actions of the European Central Bank and the “Fed” Beginning in June 2011, the European banks entered a highly critical (…)
In the eye of the storm: the debt crisis in the European Union (3/7)

The ECB, ever loyal to private interests

16 September 2011 - by Eric Toussaint

In July-September 2011 the stock markets were again shaken at international level. The crisis has become deeper in the EU, particularly with respect to debts. The CADTM interviewed Eric Toussaint about various facets of this new stage in the (…)