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…
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…
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)…
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…
