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Nine United Nations principles that can help Greece and the Eurozone in 2017

Tiago Stichelmans

12 Jan 2017 10:57:29

Last December’s clash between the finance ministers of the Eurozone (the Eurogroup) and Greece shows how far we are from a long-term and sustainable solution to Greece’s debt issues. On 5 December, the Eurogroup endorsed proposals presented by the European Stability Mechanism (ESM) that will lead to symbolic debt relief and might represent up to a 20% debt reduction by 2060, according to the ESM. European governments did not take any further steps, however, as they remain divided on the future of Greece’s programme and most notably on the 3.5% fiscal surplus target after 2018. Even the International Monetary Fund (IMF), an organisation that can hardly be considered a radical leftist group, felt the need to clarify that it is not calling for more austerity for Greece and that the 3.5% ...
At its upcoming session on 20 September, the UN Human Rights Council will discuss a new report, coordinated by Jean Zielger, on the harmful activities of vulture funds and their impact on human rights. This report shows how vulture funds negatively impact ...
The European Parliament has passed a Resolution that demands that the EU participates constructively in the UN General Assembly process to create a multilateral sovereign debt restructuring framework. The plenary vote on the EP Resolution on Financing ...
This month Eurodad interviewed Richard Kozul-Wright, director of UNCTAD's Globalisation and Development Strategies Division, on the UNCTAD’s new Roadmap and Guide for Sovereign Debt Workouts.  Why did the UNCTAD develop this Roadmap and Guide and ...

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Why it would be good for the IMF if Greece stopped repaying the IMF loans

Bodo Ellmers

26 May 2015 17:14:35

By Bodo Ellmers   The creditor community has another shock and awe moment this week, as more and more influential actors argue that Greece should stop repaying the International Monetary Fund (IMF) loans and instead use scarce public resources to tackle its economic and humanitarian crisis. While Prime Minister Tsipras still tries to ease the creditors, the idea is here to stay. And it is a good one: Greece should not just postpone loan repayments but default on them – stopping payments to the IMF for good. This would help to finally reform the IMF from the political puppet that it is now into a real and effective crisis response instrument. Risk-free lending can quickly become irresponsible lending Whoever loses in a debt crisis – and usually there are many losers – the IMF is always ...
This is a guest post by Jan Van de Poel, Policy officer with Eurodad member 11.11.11 On Wednesday last week (6 May) all major parties represented in the Belgian federal parliament signed a proposal that will curtail the harmful speculation by vulture ...
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 first meeting of the new UN General Assembly Committee for the creation of a new sovereign debt restructuring framework took place in New York from 2 to 5 February. With the old debt crisis unresolved, and new ones on the doorstep, the expectations ...