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Why we shouldn’t pay the debt: Reasons and alternatives

Added 10 Jul 2014
This report by Eurodad member ODG, entitled "Why we shouldn't pay the debt: reasons and alternatives", sheds light on the debt crisis currently overwhelming the countries on the periphery of Europe. The Spanish population, like that of Greece or Portugal, is currently suffering the criminal consequences of the austerity packages being imposed under the auspices of the debt. This debt crisis is very similar to the ongoing crises experienced by many African, Asian and Latin American countries. 

The report argues that debt has been, and continues to be, a mechanism for the domination of the debtors by the money lenders. It has served as a lever for imposing an economic model based on Neoliberalism: through the so-called structural adjustment plans, which in Europe are being called austerity packages, the debt causes poverty in the affected populations; it undermines economic, social and cultural rights; and ultimately, it leads to an increase in inequality.

To read the full report, click here or on the download button below.