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Why we should talk about the origin of Greece’s debt…and then get rid of it

Tiago Stichelmans

26 Jun 2015 14:57:55

The Truth Committee of the Hellenic Parliament has just released a report investigating the origin of Greece’s public debt. It shows that the debt is unsustainable, illegitimate, illegal and odious. Syriza now has two alternatives: repudiate the debt unilaterally or restructure it on the basis of the report.  When Syriza formed a government at the beginning of the year, one of its main objectives was to restructure Greece’s public debt. This explains why the Hellenic Parliament established the ‘Truth Committee on Public Debt’ in April. The objective of this committee is to investigate the origins and increases in the public debt, as well as its consequences.  Two months later, while everyone is interested in knowing whether the Greek government and its creditors will reach ...

MEPs to discuss new UN proposals for solving debt crises faster, better and more fairly

MEPs to discuss new UN proposals for solving debt crises faster, better and more fairlyUN experts will present solutions to sovereign debt crises that could bring an end to the misery they cause Monday May 11 2015UN experts will present new solutions to tackling sovereign debt crises during a high level event at the European Parliament tomorrow (Tuesday May 12). MEPs from Greece, Italy, the Netherlands and Spain will be among the audience discussing the process at the UN which aims to create ...
This article is also available in French and Spanish.The prevention of debt crises and the way these crises are managed have a tendency to fail due to the lack of adequate institutions. While Europe is still struggling to solve the old debt crises, ...
The International Monetary Fund (IMF) announced its intention to cancel almost $100m of debt owed by the Ebola-affected countries Guinea, Liberia and Sierra Leone, and announced it would provide $160m in new loans. Debt justice campaigns welcomed the ...

Greek elections: Time for the EU to talk debt

Bodo Ellmers

26 Jan 2015 15:45:46

The outcome of yesterday’s elections in Greece puts a new government in power that takes an alternative and proactive approach to ending the heavily indebted nation’s debt crisis. European debt justice groups welcome the plans of the new Syriza-led government to renegotiate Greece’s heavy debt burden with its creditors. These negotiations should start as soon as possible. Muddling through is no longer an option The policy of ‘muddling through’ with which the EU - assisted by the International Monetary Fund - dealt with the Greek debt crisis has lasted for far too long. And it never solved the problem. Today, Greece suffers from a debt burden that is higher than ever before. It amounts to 174 per cent of GDP, roughly three times of what is considered a sustainable debt to GDP ratio ...