Download pdf. Passo a passo até à perda total de soberania. Outubro 25, 2013 | POR EUGÉNIA PIRES Embora a decisão final não tenha sido ainda tomada, o jornal Público anunciou, na passada semana, a intenção do governo de lançar dentro em breve, através do IGCP, uma emissão de dívida denominada em dólares para investidores que apenas investem nessa…
Spread (difference in interest rates): In the current crisis, this term primarily means the difference between the interest rate paid by an EU country borrowing money, and the rate paid for equivalent borrowing by Germany. It represents the premium paid by Greece to investors who prefer Greek from German bonds. Before Greece fell prey to…
Odious Debt: Under a UN proposal (of April 2010) a debt is considered odious not only if it is product of a suspicious exchange, but whenever its repayment involves the circumvention, violation or abolition of basic human rights. Whenever a country has to destroy jobs and cut people’s incomes, cut social and public spending, and…
Gross Domestic Product, GDP: The total value of all goods and services produced within a country during a given year, including those produced by units owned by people who live abroad. The Greek GDP in 2010 amounted to €230 bln, with a real fall of 4.5% in comparison to 2009. In 2011 the fall approached…
In April 2010, when the Greek bond spreads exploded to new heights, rendering impossible Greece’s funding from the capital markets, the Prime Minister requested, from the remote island of Castelorizo, a bailout package for the country. It is basically a 3-year loan worth €110 bln, with an original interest rate of 5%; €80 bln are…
Debt (Public): The total loan obligations of the state. It may refer to the debt of the central government (the ministries and the decentralised governance bodies), or the general government (central government plus hospitals, pension funds, public companies, and local authorities). Depending on its origin, debt is divided into internal and external. As for debt…
Credit Default Swaps (CDS): Insurance contracts which cover the buyer (e.g. a bank that buys a bond) against the occurrence that the bond issuer (e.g. a country) defaults; they are a ‘fruit’ of the 1990s. A bank which purchases government bonds may insure its bond purchases with another bank, which undertakes to pay the insurance…
This dictionary was created by members of the Economy Working Group of Syntagma Square. Its purpose is to demystify and clarify some economic and financial terms which have dominated our lives recently. It is a form of resistance to the powerful who, invoking various unheard of until yesterday terms and concepts, dump the burden of…
Debt Resistance: A seminar for analysis and action (Saturday 23rd November 2013, London). A full day seminar with George Caffentzis and others to bring together activists and academics, campaigners and theorists, to examine debt and resistance in the UK and around the world. An opportunity to deepen analysis of debt, create links, and investigate strategies…
Two unique events exploring debt, crisis and resistance in UK: a public lecture (Thursday 21 November) and a seminar (Saturday 23 November) with George Caffentzis, David Graeber, Christina Laskaridis, Johnna Montgomerie and others. Event 1 Debt, Crisis, Resistance – lecture w/ George Caffentzis @davidgraeber Christina Laskaridis of @CorpWatchUK
Blockupy will return to Frankfurt in 2014 to resist the opening of the ECB’s new headquarters. Yet much remains open. It is the main objective of the European Action Conference to make plans together, to build structures and to decide about action dates and concepts. ICAN members will be organising a Workshop on Debt Audits:…
2 November by Thomas Coutrot , Patrick Saurin , Eric Toussaint On the occasion of the publication of two major works, Le Capital au XXIe siècle and the French translation of Debt The First 5000 Years, Mediapart organized a meeting between the authors, namely Thomas Piketty and David Graeber. It is available on the Mediapart…
Source: Blog Leonidas Vatikiotis, ELE Greece member. SLUG Norway New fact on the debt issue, even within Europe, creates the Norwegian Government’s decision to launch on August 15, 2013 official audit on whether the debt that a number of developing countries owe her, is legitimate. The “new” fact that the Norwegian Government introduces concerns the…
Pablo Martínez & Iolanda Fresnillo, PACD Spain. Hundreds of city councils all over Catalonia and the Spanish State are under financial hardship since the begging of the crisis. The debt of local corporations in the Spanish state has reached 67 billion Euros in December 2012, a rise in 230% since year 2000. Even though this…
