In the eye of the storm: the debt crisis in the European Union (5/7)
CDS and rating agencies: factor(ie)s of risk and destabilization
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 crisis.
Part 5: CDS and rating agencies: factor(ie)s of risk and destabilization |1|
Ιn the eye of the storm: the debt crisis in the European Union (4/7)
A European Brady deal: austerity for life
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 crisis.
Part 4: A European Brady deal: austerity for life |1|
October 8 to 16, 2011
WEEK OF GLOBAL ACTION AGAINST DEBT AND IFIs
Break the chains of debt!
The system of debt continues to devastate the lives of people around the world. People in the South face the daily impacts and consequences of the financial indebtedness of their countries, which far from having been "relieved" is growing in step with the crisis and the pursuit of extraordinary profits by the most concentrated forms of capital. They continue also to bear the burden of the unpaid historical, social, ecological, and climate debts which are increasing as well to the rhythm of false solutions to the global crisis.
25 September 2011
Anticapitalism and environmentalism as a political alternative
by Esther Vivas
We cannot analyse the global ecological crisis separately from the crisis in which we are immersed or the critique of the economic model that has led us into it.
The starting point for today’s debate is to note that humanity is in a global ecological crisis that is an intrinsic part of the systemic crisis of capitalism. And one of the differences from past economic crises, from that of the 1970s or the crash of 1929, is precisely its ecological aspect.
In the eye of the storm: the debt crisis in the European Union (3/7)
The ECB, ever loyal to private interests
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 crisis.
19 September 2011 - www.guardian.co.uk
The real debate is how
A Greek default and exit must be taken in the people’s interests – not entrusting the process to the EU, IMF and banks.
Greece is facing an economic and social disaster, the result of its so-called rescue by the “troika” of the EU, the International Monetary Fund and the European Central Bank. Greece must change course to avoid a grim future for its people: it must default on its debt and exit the eurozone.
16 September 2011 - Debt and Development Coalition Ireland
An Audit of Irish Debt
Summary
This is an audit of Irish sovereign debt, and as such seeks to quantify and explain the debts, both real and contingent, for which the Irish people have become responsible.
The great Greek bond bazaar
by Eric Toussaint
In the eye of the storm : the debt crisis in the European Union (2/7)
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 crisis.
Part 2: The great Greek bond bazaar
In the eye of the storm: the debt crisis in the European Union
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 crisis.
First part: Greece
2011-09-11
The whys of famine
by Esther Vivas
We live in a world of plenty. Today food is produced for 12 billion people, according to the Organization of the United Nations Food and Agriculture (FAO), when the planet is inhabited by 7 billion people. There is food. So why is one of every seven people in the world going hungry?
29 August 2011
Jamaica’s crippling debt crisis must serve as a warning to Greece
The experience of debt-ridden Jamaica shows the damage done when the interests of creditors are given too much weight. As the eurozone authorities move closer to the accepting the inevitable Greek debt default/restructuring, there are some who have pointed to the Jamaican debt restructuring of last year as a model.
by Mark Weisbrot
It’s hard to imagine a worse disaster for Greece. It is worth a closer look at what has been done to Jamaica, not only as a warning to Greece, but to shed some light on the damage that can be done when "the international community" is willing to sacrifice a country for the sake of creditors’ interests.
2011-08-14
Grèce, Irlande et Portugal : pourquoi les accords conclus avec la Troïka sont odieux ?
par Renaud Vivien, Eric Toussaint
La Grèce, l’Irlande et le Portugal sont les trois premiers pays de la zone euro à être passés sous la tutelle directe de leurs créanciers en concluant des plans d’ « aide » avec la « Troïka » composée de la Commission européenne, de la Banque centrale européenne (BCE) et du Fonds monétaire international (FMI). Mais ces accords, qui génèrent de nouvelles dettes et qui imposent aux peuples des mesures d’austérité sans précédent, peuvent être remis en cause sur base du droit international.
Les dettes illégitimes : quand les banques font main basse sur les politiques publiques (François Chesnais)
François Chesnais vient de publier un livre important, intitulé "Les dettes illégitimes. Quand les banques font main basse sur les politiques publiques" (Editions Raisons d’agir, 2011). Un livre pédagogique dégageant les mécanismes financiers et bancaires à l’origine de la dette dite souveraine. Il indique aussi l’actualité d’une bataille européenne pour l’annulation des dettes illégitimes. Dans l’article ci-dessous, il met en relief les traits saillants du thème qu’il traite dans son ouvrage.
2011-07-31
ON THE GERMAN OCCUPATION LOAN FROM GREECE
BY TASOS ILIADAKIS
- all those who forget the past cannot have a future
A. The background
During the early 1940s, Berlin, in order to have financial means of securing its strategic objectives in the Balkans, the Mediterranean basin and Libya, had imposed the most strict conditions on Greece, under occupation, to finance and feed the German armies active in the area. Greek agriculture was almost entirely feeding the German armies in the Libyan front.
The German objective in Libya was oil…in Greece it was the protection of the Balkans which provided 20% of German military needs in Stibium and antimony hydride, 50% of mineral oils, 60% of boxite and 100 of nikel oxide and tungsten. At the same time Greece was the only entry point for the Allies to counteract German influence in the Balkans.
2011-07-31
Die Deutschen müssen zahlen Eine Aufstellung der deutschen Kriegsschulden an Griechenland
Tasos Minas Iliadakis
"Die Deutschen sollen erst mal ihre Kriegsschulden an Griechenland bezahlen, bevor sie von uns was wollen." Diese Forderung wird in Griechenland immer lauter - und sie ist berechtigt.
In den frühen 40er Jahren drückten die Nazis dem besetzten Griechenland außerordentliche finanzielle Verpflichtungen auf, um die deutsche Besatzung zu sowie ihre militärischen und strategischen Ziele auf dem Balkan, im Mittelmeerraum und in Libyen zu finanzieren. Außerdem wurde die griechische Nahrungsmittelproduktion für die Verpflegung der deutschen Truppen an der libyschen Front eingesetzt.
Die Deutschen hatten es auf das Öl aus Libyen und aus dem Nahen Osten sowie auf die Erze aus dem Balkan abgesehen: Von Letzterem bezog die deutsche Rüstungsindustrie 20% ihres Bedarfs an Antimon, 50% des Erdöls, 60% an Bauxit und ihren vollen Bedarf an Nickel. Gleichzeitig war Griechenland der einzige Raum, von dem aus die Alliierten den deutschen Einfluss auf dem Balkan zurückdrängen konnten.