OCAX: an online tool to keep public budgets under people’s control

A year ago, the PACD (Spanish Citizen Debt Audit Platform) launched its campaign to fight debt and lack of transparency in the municipalities. The aim was to create citizen observatories to get the budgets under citizens’ control. An online tool has been developed in order to support this task. The tool, OCAX, is totally open source:  any group can…

The new European Banking Liquidation Fund, another mechanism for transferring bank losses to the taxpayers.

The Ecofin (European Council for Economic and Financial Business) has agreed to create the fund for liquidating banks in Europe or, in other words, to insure depositors’ money, which will be called Single Resolution Mechanism (SRM). In this new pact there is, as there has been lately, a clear winner. Germany has assured itself that the…

#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…

Call to action: international support to the ILP presented by the PAH – Housing Debt [Fr]

   Video made by the PAH to explain the consequences of the evictions and the mortgage debt on people’s day-to-day life. The People’s Legislative Initiative (ILP) is the citizens’ response to Spain’s mortgage lending fraud. Endorsed by nearly a million and a half citizens, this ILP was submitted to congress by the Mortgage Holders Platform…

Ski slopes of debt in Spain

Nick Dearden, Jubilee Debt Campaign UK  Last week a former businessman told me with great conviction that the Spanish people had ‘lived beyond their means’. Tonight’s meeting showed just who has lived beyond their means. Iolanda Fresnillo from the Spanish Debt Audit Platform (PACD) told us some incredible stories about her country’s Public Private Partnerships –…

It couldn’t happen in Ecuador

Nick Dearden, Jubilee Debt Campaign UK Groups like Jubilee which have worked on ‘Third World Debt’ have campaigned against illegitimate debt for many years. Debt resulting from the sales of weapons to some of the late twentieth century’s most horrific regimes; from vanity projects built by dictators; and debt payments which impoverish millions of people…