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…
Support for the resisting Greek people. For the people’s right to audit public debt
APPEAL TO SUPPORT THE RESISTING GREEK PEOPLE and its TRUTH COMMISSION ON PUBLIC DEBT FOR THE PEOPLES’ RIGHT TO AUDIT PUBLIC DEBT Click here GreekDebtTruthCommission.org to sign this Appeal Indicative list of 800 personalities supporting Greece To the people of Europe and the whole world! To all the men and women who reject the…
Preliminary Report of the Truth Committee on Public Debt
The Truth Committee on Public Debt (Debt Truth Committee) was established on April 4, 2015, by a decision of the President of the Hellenic Parliament, Ms Zoe Konstantopoulou, who confided the Scientific Coordination of its work to Dr. Eric Toussaint and the cooperation of the Committee with the European Parliament and other Parliaments and international…
“We are auditing Greece”
What is exactly happening with Greece, what lies behind the negotiations and how important is debt and what are the consequences for the Greek people? Last month Greece began a Debt Audit process which aims to analyse its debt on the basis of it being illegal, illegitimate, odious or unsustainable, through the Greek Debt Truth…
Appeal to support the Resisting Greek people and its truth Commission on Public Debt
The Speaker of the Greek parliament launches a debt audit commission
The Speaker of the Greek parliament, Zoé Konstantopoulou, has announced during a press conference on 17 March 2015 the creation of a commission to audit the Greek debt. The scientific coordination of the commission will be led by Eric Toussaint, Spokesman for CADTM and a member of the Ecuadorian debt audit Commission that sat in…
Greek Debt Cancellation Now!
With debt restructuring a new priority in the political agenda of both the Greek government and its creditors, it is a forthright necessity to cancel public debt, starting with the debts to the Troika which currently exceed 70% of the total. Immediate cessation of payments through the denunciation of two loan agreements, followed by cancellation…
False Dilemmas: A Critical Guide to the Euro Zone Crisis
With Syriza expected to win in the Greek elections this weekend, the public debate around the European crisis has been reignited, and it will soon get feverish. This is a great opportunity for us to disseminate radical analysis about the crisis, and help unravel the mainstream story. For all interested and involved in anti-austerity…
Tides of relief: Nikos Romanos wins victory in hunger strike
Source: http://roarmag.org/2014/12/nikos-romanos-hunger-strike-victory/ After a month on hunger strike and weeks of solidarity protests, the anarchist prisoner Nikos Romanos is finally granted his demands by the government. By Foula Farmakidis, Spyros Marchetos and Christina Laskaridis Tides of relief emanated from Greece on Wednesday, when the anarchist prisoner Nikos Romanos ended his month-long hunger strike that sparked…
Transforming crisis to Krisis
Τhe #Festival4sce: A hub of networks towards the Alternative Route in Greece. By Insurgenta Iskra Crisis. Originally, the word derives from the ancient Greek verb “krinein”, meaning to judge in order to take a decision and its noun, “krisis”, meaning judgment, decision. According to Steven James Venette[1] “crisis is a process of transformation where the old…
Greece: Cancelling the majority of sovereign debt is an overdue necessity
Announcement approved at public meeting, 7 May 2014. The debt crisis has acted as a lever to dismantle labour rights and transform Greece into a creditor’s colony. The increase of unemployment to 27%, the reduction of wages and pension by 40% on average, the explosion of over 6000 recorded suicides, and the migration of young…
The Dictionary of Debt (VII): Spread, Taxation, Tax Exemptions, Unemployment
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…
The Dictionary of Debt (VI): Odious Debt, Primary Deficit, PSI, Secondary Bond Markets
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…