Private
finance
Debt
Tax
justice
Aid
Financial
architecture

Search by publisher


Display by category

Results for Konstantinos Todoulos

press
Joint statement for the global week of action on debt and IFIs 2013

Debt payments, tax avoidance and capital flight are impoverishing people to enrich a few. Money is transferred from the global South to the global North, from the marginalised to the powerful, from the 99% to the 1%. This financial system devastates the lives and livelihoods of hundreds of millions of people through the impacts and crises it creates.Predatory and reckless lenders are protected from the impacts of the debt crises they have caused, whilst people who had no say in the loans are ...
  Debt payments, tax avoidance and capital flight are impoverishing people to enrich a few. Money is transferred from the global South to the global North, from the marginalized to the powerful, from the 99% to the 1%. This financial system devastates ...

blog
Troika loans to Greece: a gift for creditors, not for people

Konstantinos Todoulos

26 Jun 2013 09:11:37

A new briefing by Attac Austria analyses who is benefiting from the crisis loans to Greece. At least 77% of the €206.9 billion loans by the Troika of the International Monetary Fund (IMF), European Union and European Central Bank (ECB) were used to bail out creditors and recapitalise banks. At the same time, the Greek economy collapsed and poverty is rising dramatically because the government lacks the financial resources to stimulate growth and fulfil its human rights obligations. The analysis confirms that Troika involvement in Greece is not benefiting the people but the creditors, repeating a history of debt crisis management we have seen in many developing countries in the past.   Crisis lending to Greece: who profited? The Troika’s crisis loans, of which €206.9 billion ...

blog
Brazil’s ‘debt cancellation’ for Africa leaves more questions than it answers

Konstantinos Todoulos

13 Jun 2013 11:07:21

On 25 May Brazil announced the “cancellation or restructuring" of up to $900 million of debt owed by 12 African countries though the details remain extremely unclear, including what this may actually be worth to African countries, and crucially what Brazil expects in return. The debt relief, announced by Brazilian president Dilma Rousseff on the occasion of the 50th Anniversary of the African Union, reflects Brazil’s growing prominence in the global political scene, and the increasing relevance of its relations with African countries. According to news reports, Congo-Brazzaville will be the main beneficiary and will receive $352 million of debt relief, followed by Tanzania with $237 million and Zambia with $113.4 million. The other countries that are included in the initiative are Democratic ...
+DDCI

blog
Cyprus – the next chapter of dysfunctional EU debt crisis management

Konstantinos Todoulos

28 Mar 2013 11:04:25

By Costas Todoulos and Bodo Ellmers  After more than a week of messy negotiations, the Troika (made up of the European Union, the International Monetary Fund and the European Central Bank) and the government of Cyprus agreed on a bailout package for Cyprus on 24 March. Cyprus is set to receive a €10 billion loan, on the condition that it shrinks its financial sector and implements austerity policies. Private bank deposits above €100,000 will be taxed at 40% in order to raise the additional €5.8 billion needed to stabilise the country’s de facto bankrupt banks. Euro banking crisis chapter four   Cyprus has become the fourth European nation to fall victim to a banking crisis that was caused by irresponsible lending and lax financial regulation – following on the heels of ...