The Dictionary of Debt (III): Public Debt, Public Deficit, Eurobond, Extending Loan Maturity

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…

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The Dictionary of Debt (II): CDS, Credit Rating Agencies, Debt Audit Commission, Debt Negotiations / Restructuring of 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…

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The Closure of ERT / TΟ ΚΛΕΙΣΙΜΟ ΤΗΣ ΕΡΤ

The Greece Solidarity Campaign was set up just over a year ago, to mobilise support for Greece from the British public, politicians, academics, journalists and unionists, in these trying times. One of our main aims is to help Greece and the Greek people to counteract the negative images that have been promoted within the rest…

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ERT belongs to us, not to the oligarchy!

The government of the memorandum is falling apart, trapped in the consequences of its own austerity policies. Its panic became apparent when the Prime Minister circumvented the parliament and then bypassed even the cabinet. Unconstitutionally, the signature of one and only minister shut the public broadcaster, paving the way for this same method to be…

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Chypre : La troïka persiste et signe

20 avril par Jérome Duval Le premier « corralito » |1| européen Comme en Espagne, le modèle de développement avec le taux de croissance élevé des années 2000 en large partie dû au secteur de construction et du tourisme semble avoir atteint ses limites. Chypre est secouée par les politiques d’austérité qui traversent la Grèce, les attaques spéculatives…

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Cyprus – whose crisis?

The economic crisis in Cyprus erupted during the second cycle of the European recession of 2011 as a result of harsh austerity policies imposed since 2010 in Europe. It is a new crisis born out of a failed response to the original European crisis. These policies were (and still are) a basis for the divergence…

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In the face of barbarity: solidarity. The social clinics in Greece

The greek health´s system has been collapsed. Under the Troika´s direction and the government complicity are many the medical centers, departments and hospitals that have been closed or united, and the huge cut in the public hospitals funding it´s inducing to severe basic lacks. Every time are more the excluded from public medical coverage, with…

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#Greece: Crisis, Democracy, and the Euro

Source:  http://ilesxi.wordpress.com/2013/03/19/crisis-democracy-and-the-euro/ Τhree years after submitting to the Troika Memorandum, Greece is falling apart. GDP has contracted more than 21% according to IMF calculations, and it is expected to dive another 6% in 2013. Never in world economic history, since statistics began, was such a fall of production recorded without being preceded by a war…

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Debt and Fascism in #Greece

Post by Emma Avilés, Spanish Citizen Debt Audit Platform (PACD Bcn) Racism is directly related to the economic crisis and the situation gets worse as social cuts progress. If for capitalists, the crisis is a creative destruction, how con we describe the destruction of social services, a youth forced to unnecessarily go abroad, pension cuts, immigration…

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