Illegitimate debt
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History shows that it is legitimate to repudiate “odious debt”
16 February 2018 - by Eric Toussaint, Vittorio De Filippis
Eric Toussaint interviewed by Vittorio De Filippis Published in the French daily Libération on 19 December 2017. Eric Toussaint is the international spokesperson for the CADTM ( Committee for the Abolition of Illegitimate Debt). In his latest (...) -
“Sellouts in the Room:” Éric Toussaint on the Greek Debt Crisis and SYRIZA Capitulation
3 January 2018 - by Eric Toussaint, Michael Nevradakis
ATHENS, GREECE – For years, throughout the severe economic crisis that has plagued Greece over much of the past decade, the international media and financial press have held Greece up as a striking example of financial folly and mismanagement. (...) -
The Bamako Seminar, The CADTM network reinforces the struggle against illegitimate debt !
27 December 2017 - by Nathan Legrand, Fatima Zahra El Beghiti
The CADTM International network delegations met in Bamako, Mali, from 15 to 25 November 2017 to follow several political training and coordination activities. Indeed the third “women, debt and microcredit” seminar, the annual CADTM training (...) -
[Podcast] Interview with Eric Toussaint on Greece’s debt and possible solutions
20 December 2017 - by Eric Toussaint, Dialogos Radio
An interview with Eric Toussaint of the CADTM and scientific director of the Greek Truth Commission on Public Debt, on the issue of Greece’s debt, the commission’s findings, and legal solutions for Greece’s debt burden. In English. Aired December (...) -
The case for repudiation of Uganda’s public debt
8 December 2017 - by Mary Serumaga
Uganda is in imminent danger of defaulting on its debt repayment obligations. The Auditor General notes in 2017 that interest payments on the public debt exceeded legal limits (15% of the annual budget) and are likely to be unsustainable going (...) -
Debt relief for the hurricane-hit islands is the least we should do
14 October 2017 - by Tim Jones
As the devastation from recent hurricanes in the Caribbean becomes clearer, the calls for debt relief for affected countries grow stronger, writes Tim Jones ‘We have lost all that money can buy and replace,’ said Roosevelt Skerrit, the prime (...) -
Mozambique’s illegitimate hidden debt
6 September 2017 - by Claude Quémar
The report on the audit on Mozambique’s “hidden” debt (2 billion dollars) made at the request of the Attorney General of Mozambique, began to circulate in late June 2017, several months behind schedule. Only the findings are currently available. (...) -
Debtors can exercise power when they join together
22 August 2017 - by Patrick Saurin, Ann Larson, Laura Hanna
Interview of Ann Larson and Laura Hanna (Debt Collective), by Patrick Saurin (CADTM) The Debt Collective, Strike Debt, and the Rolling Jubilee: How were these movements born and how are they related? The Debt Collective is a culmination of (...) -
The unexpected Mozambican debt crisis: illegitimate debt back on the international agenda
17 August 2017 - by Bodo Ellmers
Mozambique’s default on commercial loans worth US$2bn has triggered the latest - and arguably most shocking - African debt crisis in recent times. While nearly all African countries suffer from low commodity prices and rising credit costs, the (...) -
People must self-organize and keep up the pressure on their governments if we are to bring about radical change
16 August 2017 - by Eric Toussaint, Victor Lustres
Eric Toussaint (Namur, Belgium, 1954) is co-founder and spokesperson for the Committee for the Abolition of Illegitimate Debt (CADTM), an international network which includes local committees in more than 30 countries and fights to elaborate (...) -
Greece: Refusing illegitimate debt – a struggle that unites
9 August 2017 - by Eric Toussaint
Nearly two hundred people had gathered at the Dexameni open-air cinema (in the Kolonaki quarter) in Athens on Monday 17 July to hear a talk and see two documents produced in liaison with the CADTM. The activity was organized jointly by the Truth (...) -
Down with illegitimate public and private debt
4 July 2017 - by Eric Toussaint
What we are fighting is a capitalist system that destroys nature. We have to fight a capitalist system which, within the two centuries since the so-called Industrial Revolution, has accumulated enough greenhouse gases to trigger climate (...) -
Pakistan: CPEC - A “game-changer” or another “East India Company”?
21 March 2017 - by Abdul Khaliq
China-Pakistan Economic Corridor (CPEC) is a big business proposition with huge Chinese investments spreading over 15 years having a total outlay of up to $46 billion: $35 billion on the energy sector in the mode of IPPs (independent Power (...) -
Egypt’s new IMF deal comes with a huge price tag for human rights
13 February 2017 - by Mahinour El-Badrawi, Allison Corkery
The government of Egypt has sealed a loan deal with the IMF following four years of negotiations. The impacts of the structural adjustment reforms associated with the loan raise strong human rights concerns, particularly for the status of (...) -
“The Greek government and banks try to take away our homes every Wednesday at civil tribunals”
26 January 2017 - by Eva Betavatzi, Filippos Filippides
Prior to Greece’s joining the EEC (European Economic Community) in 1981, Greek banks granted mortgages with very high interest rates, reaching up to 25%. With the country’s entry into the EEC, rates dropped to 16%. Then, as soon as the euro was (...) -
Puerto Rico’s Neocolonial Debt
3 December 2016 - by Pierre Gottiniaux
In 1898 the United States declared war on Spain to ‘free’ Cuba from Spanish domination. Spain was defeated and signed the Treaty of Paris in December 1898, in which it sanctioned Cuba’s independence and ceded to the US several other overseas (...) -
Venezuela and its circling vultures
3 November 2016 - by Daniel Munevar, Renaud Vivien
After the prolonged legal battle of Argentina and the ongoing negotiations in Puerto Rico with vulture funds over both countries debts, a new clash on the sovereign debt of a Latin American country looms large in the horizon. That of Venezuela. (...) -
What other countries can learn from Costa Rica’s debt repudiation
1 November 2016 - by Eric Toussaint
In January 1917, the government of Costa Rica, under President Alfredo González, was overthrown by his Secretary of the Army and Navy, Federico Tinoco, who called new elections and established a new constitution in June 1917. The Tinoco putsch (...) -
Sixth and final part of the interview “History of the CADTM’s Anti-Debt Policies”
The Work and Lessons of the Truth Committee on Greek Public Debt
10 October 2016 - by Eric Toussaint, Benjamin Lemoine
Interview with Eric Toussaint, spokesperson and co-founder of the international network of the Committee for the Abolition of Illegitimate Debt (CADTM). Interview by Benjamin Lemoine|1| This interview presents the genealogy of the anti-debt (...) -
Part 5 of the interview “History of the CADTM’s anti-debt Policies”
Greece: Leaders’ Ambivalence regarding debt and the financial system, even though resistance started on a promising note
20 September 2016 - by Eric Toussaint, Benjamin Lemoine
Interview with Eric Toussaint, spokesperson and co-founder of the international network of the Committee for the Abolition of Illegitimate Debt (CADTM). Interview by Benjamin Lemoine. [1] This interview presents the genealogy of the anti-debt (...) -
Greece: A Country for Sale
13 September 2016 - by Eleni Portaliou
The most persistent myth concerning Syriza’s capitulation to the troika is that it was a “forced choice.” To put it differently, “there was no alternative” to signing a third memorandum, given an extremely unfavorable balance of forces at a European (...) -
The USA’s repudiation of the debt demanded by Spain from Cuba in 1898: What about Greece, Cyprus, Portugal, etc.?
8 September 2016 - by Eric Toussaint
The USA declared war on Spain in the middle of 1898, and sent their navy and troops to “liberate” Cuba from the Spanish yoke. Spain was defeated and negotiations between the two countries began in Paris in order to reach a peace agreement, finally (...) -
The bleak anniversary of the 3rd Greek memorandum
1 September 2016 - by Anouk Renaud
The 13th July 2015 will from now on be considered to mark Greece’s surrender. On this date, the Syriza-Anel government led by Alexis Tsipras finalised an agreement with the European Union, which resulted in the official signing of a third (...) -
An open letter to the Most Honourable Abdelilah Benkirane, Prime Minister of the Kingdom of Morocco, in response to untruths about the Moroccan public debt
29 August 2016 - by Salaheddine Lemaizi
From: Salaheddine Lemaizi, Militant at ATTAC Morocco To: The Most Honourable Abdelilah Benkirane, Prime Minister of the Kingdom of Morocco Subject: response to untruths about the Moroccan public debt Most Honourable Prime Minister, I (...) -
Part 3 of the interview “History of the CADTM’s anti-debt Policies”
Argentina: Further Action against Illegitimate Debt
17 August 2016 - by Eric Toussaint
Interview with Eric Toussaint, spokesperson and co-founder of the international network of the Committee for the Abolition of Illegitimate Debt (CADTM). Interview by Benjamin Lemoine This interview presents the genealogy of the anti-debt (...)
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