Greece: Indebted Health
By Helena Mavrouli
Transfers from the Periphery to the Centre, from Labour to Capital
Public opinion is convinced that the North is trying to help the South. Yet François Mitterrand declared in Naples at the G7 Summit in July 1994, “Despite the considerable amounts spent on bilateral and multilateral aid, the flow of capital from Africa towards the highly industrialised countries is greater than that which flows towards the…
World Debt figures
To facilitate our understanding of the complexity of the current crisis, Damien Millet, Eric Toussaint, and Daniel Munevar (CADTM) present a range of statistics on the debt and its repercussions. The economic, financial, debt, and food crises, and how they are interconnected, become clear on reading the tables and graphics that illustrate this brochure. Starting…
Bankocracy
Governments of the most industrialised countries have dramatically increased their public debt to bail out the private banks after the most disastrous economic and financial meltdown in capitalist history since the 1930s. Paying debts and reducing fiscal deficits have become the perfect pretexts to enforce austerity measures everywhere. The Troika (European Commission, ECB and IMF)…
Figures relating to the debt for 2009
A necessary tool to understand the current global crisis, the data collected here by Damien Millet and Eric Toussaint (CADTM) should enable us to make sense of one of the basic reasons for the international situation, as seen from the viewpoint of the global South. From the 1960s to today’s global crisis, the international network…
The life and crimes of an exemplary man
Jacques de Groote, the former Executive Director at the IMF (1973- 1994) and World Bank (1975-1991) for Belgium, was condemned in October 2013 by Swiss courts in an affair concerning the fraudulent privatization of the principal coal mine in the Czech Republic. His codefendants, five Czech executives, were given fines and prison sentences ranging from…
Ecuador at the cross-roads. For an integral audit of public indebtedness
Indebtedness in developing countries presents a specific feature which has to be set at the heart of public debate: it results from an ongoing policy of deprivation and subordination of these countries by more industrialised countries, transnational corporations (TNCs) and international financial institutions, with the elites of the South aiding and abetting. Like other indebted countries…
SUSPENDING” THE DEBT MEANS PAYING THE DEBT!
Τhere is a plethora of proposals for the public debt issue made by many executives of SYRIZA. However, the common denominator of all the suggestions made by the frontline…
Greece Should Default and Abandon the Euro
Greece is now in a vicious circle of insolvency, lack of competitiveness and ever-deepening depression, exacerbated by draconian fiscal austerity that is making…