Greek debt crises: The European Stability Mechanism money started flowing – to creditors, not to Greece

Greek debt crises: The European Stability Mechanism money started flowing – to creditors, not to Greece 8 September by Bodo Ellmers The Greek bailout saga entered a new round as the first tranches of the new loan package were disbursed. The €86 billion programme will be funded by the European Stability Mechanism (ESM). The International…

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Decentralized actions Blockupy central banks !

Around the (successful) mobilization of Blockupy in Frankfurt, several decentralized actions took place in central national banks (that are part of ECB) –> Italy Autonomous activists from north-east social centers close with barricades the Venetian headquarters of the Bank of Italy. Video: https://www.youtube.com/watch?v=DC6-QFhzRsg France Gatherings in front of “Banque de France” have been organized by…

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Global week of action against the Debt and International Financial Institutions (IFI), 8-15 October 2014

Argentina has fallen prey to a bunch of hedge funds known as ‘vulture funds’. Taking advantage of the precarious financial situations of some States, these vulture funds buy debts at a discounted price on a secondary market and then sue the debtors for the initial amount to which they add interests, penalties, and legal expenses.…

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Don’t Owe, Won’t Pay: YES to life, NO more vultures!

By Jubilee South/Americas This past June 16th, the Supreme Court of the U.S. announced two highly pernicious decisions not only for Argentina and its people, but for all those who defend sovereignty and the primacy of human rights over the claims of big capital. The Court rejected Argentina´s appeal, leaving firm the lower court rulings…

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2nd newsletter of TroikaWatch

Enjoy the 2nd newsletter of #TroikaWatch: In this newsletter you can read about: Overall situation European level Greece Ireland Portugal Cyprus Spain Italy Slovenia Who we are and why we write this newsletter Overall situation While the general outlook remains broadly unchanged, with the Troika still pushing for severe austerity and national governments continuing their…

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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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