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With its Compact with Africa, the German G20 presidency is actively promoting private loans and investment as solutions to infrastructure deficiencies on the African continent. The Compact aims at using public resources in order to improve the investment ...
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 ...

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 ...

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 ...