North
-
Repression, eviction and dispossession in New Democracy’s Greece
9 January 2020 - by Theodoros Karyotis
The latest attack on the squatting movement in Greece is the preamble for a massive operation of housing dispossession by the right-wing government. Dimitris Indares was still in his pyjamas when the police knocked on his door in the neighborhood of Koukaki, in Athens, in the early hours of (...) -
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 out by the mainstream media and the (...) -
Regarding the “Hercules” plan, housing dispossession and squat evictions in Greece
20 December 2019 - by Theodoros Karyotis
The “Hercules” plan to sell €30 billion worth of non-performing (“red”) loans to funds, with the state acting as the guarantor, was approved a few days ago by the Greek parliament. Of course the loans will be sold at a fraction of the nominal price, and the funds will be given free rein to demand (...) -
The fantasy world continues
29 November 2019 - by Michael Roberts
The fantasy world continues. In the US and Europe, stock market index levels are hitting new all-time highs. Bond prices are also near all-time highs. Investment in both stocks and bonds are delivering massive profits for the financial institutions and companies. Conversely, in the ‘real’ (...) -
A critical review of Costa-Gavras’ Adults in the Room
26 November 2019 - by Eric Toussaint
In his latest work film director Costa-Gavras seeks to denounce the brutality with which European politicians treated the 2015 Greek crisis. Very commendable, but it is also regrettable that so much more is ignored. Costa-Gavras is one of the great film-makers whose work is a permanent outcry (...) -
Another look at the Federal Reserve’s panic in September 2019 and solutions to the crisis
28 October 2019 - by Eric Toussaint
You may recall that from 17 September 2019, the United States Federal Reserve injected massive amounts of liquidity into banks due to a quite abnormal situation on the repo market [1]. The repo market designates a mechanism used by banks to obtain short-term financing. They sell securities they (...) -
New bubbles, mounting debt: preparing for the coming crisis
24 October 2019 - by Ben Reynolds
A new global recession looms on the horizon, pointing to a new era of financial crisis, government bailouts and popular outrage. Financial markets roil and the banking system groans. The US Federal Reserve cuts interest rates, even as Chairman Jerome Powell claims that he expects the economy (...) -
Corporate debt, fiscal stimulus and the next recession
23 October 2019 - by Michael Roberts
The debt owed by corporations in the major economies has risen since the end of the Great Recession in 2009. With global growth slowing and the prospect rising of an outright global recession recurring ten years after the last one, the debt held by corporations may soon become so burdensome to (...) -
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 publish further episodes in the Éric Toussaint’s (...) -
ECB: You can take a horse to water but….
18 September 2019 - by Michael Roberts
Last Thursday, Mario Draghi, the current head of the European Central bank, soon to be replaced by Christine Lagarde from the IMF, announced a parting gift to banks and financial markets. The ECB decided to reintroduce its bond purchasing programme in order to inject yet more billions into (...) -
Greece: The elusive “Return to Normality” against the background of the historic bankruptcy of its left
23 August 2019 - by Yorgos Mitralias
Almost unanimously, the Greek and international media and the leaders of the main Greek parties are celebrating the result of the Greek election as “a return to normality” for the country whose crisis has hit the headlines over the last decade. This return to normality is because the combined (...) -
Puerto Rico rises...
24 July 2019 - by CADTM AYNA
CADTM Latin America and the Caribbean (CADTM - ABYA YALA - Our America) stands in solidarity and marches along with the brave Puerto Rican people and, among them, the comrades with whom we participated in the Latin American and Caribbean Week against Illegitimate Debts, held from December 2 to (...) -
Greece: completing the vicious circle
12 July 2019 - by Michael Roberts
So the full circle is completed. The corrupt pro-business conservative New Democracy party in Greece that was ousted by the anti-capitalist Syriza party in 2015 has been returned to office in yesterday’s general election, with an outright majority over all other parties. New Democracy party (...) -
In the debt system, it’s the people that lose out
5 July 2019 - by Eric Toussaint, Cristina Quintavalla, Vittorio Lovera, DIRE - news agency
Eric Toussaint, who presented the Italian version of his book The Debt System in Rome on 18 June 2019, holds that it is possible to “repudiate the dictatorship of the financial markets... Coercion by debt is an integral part of the global capitalist system. It is more than a simple opposition (...) -
Migrants, debt and propaganda
3 July 2019 - by CADTM Italy
As regards the docking of the Sea Watch 3 ship, a heated debate is rising in Italy, which could not but involve organizations also dealing with economics, finance and debt. In these days we are witnessing the representation of a dramatic , tragic and aberrant propaganda, whose aim is using (...) -
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 improving your life chances. At least that’s how the (...) -
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 would have to push for the government to stop repaying (...) -
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 Commission and the European Central Bank, dubbed “the (...) -
The mountain of corporate debt will be the seed of the next financial crisis
3 May 2019 - by Eric Toussaint
The scene is again set for a new major international financial crisis. Central bankers, leaders of institutions such as the IMF, the OECD and the Bank for International Settlements are all aware of the situation. Many articles in the specialized press proclaim it. One of the factors is the (...) -
Boom and then bust?
30 April 2019 - by Michael Roberts
Last March, I posted that the global economy seemed to be in a fantasy world where stock markets hit new highs but output of goods and services, investment and trade was stagnating in the major economies. This week, the US stock recorded yet again new highs. As the Financial Times described (...) -
Golden Dawn a public affair - How to resist?
29 April 2019 - by Angélique Kourounis, Thomas Iacobi
After the documentary “Golden Dawn a personal affair” which was about trying to understand how the Greek neo nazi party functioned, which is still the 3rd political force of the country, now we go on with “Golden Dawn a public affair” which tries to investigate all the possible forms of resistance (...) -
A delicate moment
17 April 2019 - by Michael Roberts
The IMF-World Bank meeting in Washington this weekend revealed again that the world economy is slowing down and the prospect of an outright recession is getting much higher. The IMF economists cut their outlook for global growth to the lowest since the global financial crisis of 2009 amid a (...) -
Why the 1953 cancellation of German debt won’t be reproduced for Greece and Developing Countries
8 April 2019 - by Eric Toussaint
In 2019, the World Bank (WB) and the IMF will be 75 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 interests of the world’s populations. The WB and (...) -
Varoufakis’s secret negotiations and his disappointments with China, Obama and the IMF
20 February 2019 - by Eric Toussaint
After Part Seven which analysed the first capitulation on 20 February 2015, this eighth part of the series will focus on the failure of the talks with the Chinese government, the continued secret diplomacy, relations with the IMF and the failure to suspend payments to them and Varoufakis’s lack (...) -
A critical review of the critical reviews of the book ’Adults in the Room’ by Yanis Varoufakis
12 February 2019 - by Eric Toussaint
The book Adults in the Room [1] by Yanis Varoufakis has given rise to some very interesting criticism from Adam Tooze in The New York Review of Books (“A Modern Greek Tragedy”), J.W. Mason in the Boston Review (“Austerity by Design”), Pavlos Roufos in The Brooklyn Rail (“Inside the Disenchanted (...)
CADTM
COMMITTEE FOR THE ABOLITION OF ILLEGITIMATE DEBT
35 rue Fabry
4000 - Liège- Belgique
00324 226 62 85
info@cadtm.org
