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World Crisis

DEBT AND AUSTERITY: FROM THE GLOBAL SOUTH TO EUROPE

Invitation – Open to All
Debt and Austerity: From the Global South to Europe
Global Gathering: Athens, Greece 6th-8th May 2011

We would like to invite you to attend a ground-breaking global gathering in Athens, Greece at the beginning of May which will bring debt justice and social justice activists together from Europe and the Global South. As debt and austerity create inequality and poverty within Europe, this event will work toward developing a common understanding of the financial crisis among trade unions, social movements and NGOs, as well as focusing on forming coherent plans for common activities and demands for economic justice. The meeting will also formally support the launch of the call for a debt audit commission in Greece.

Debt audits have been a key means of people challenging their country’s unjust debts, educating and empowering citizens and creating space for a more people-centred form of economics. Debt audits are a key call of many Southern campaigners, some of whom will travel to Greece to discuss the way that audits and other demands for debt justice can help build a new financial and economic model.

The seminar is aimed at social movements, trade unions and NGOs. The meeting will also support Greek activists in their planning for greater social and economic justice and attract international media attention through public sessions and a press conference. The conference will launch an official declaration of solidarity and support for the proposed Greek debt audit and highlight common concerns among Northern and Southern debt and social justice groups.

Sessions include:

* Gaining a deeper understanding of the nature, relevance and politics of debt in Europe and globally
* Learning the lessons of debt and austerity from the global South
* Exploring the resurgence of the IMF and of austerity in Europe and globally
* Exploring the implications of restructuring, repudiating and paying the debt

A full agenda and practical information will be available in the coming days.

We will be joined by speakers from Argentina, Brazil, Zimbabwe, the Philippines, Tunisia and from across Europe, including deeply indebted European countries.

The conference is supported by: the European Network on Debt and Development, the Committee for the Abolition of Third World Debt, the Bretton Woods Project UK, Research Money and Finance, Debt and Development Coalition Ireland, Afri (Action from Ireland), Jubilee Debt Campaign UK, the Observatorio de la Deuda en la Globalización Spain.

The seminar costs will be free (or with a small voluntary contribution). Groups and individuals will need to fundraise their travel costs independently.

For more details please contact:
Greece: Christina arbutus@riseup.net
Ireland: Nessa Ní Chasaide nessa@debtireland.org 01 6174835 / Andy Storey andy.storey@ucd.ie UK: Nick Dearden nick@jubileedebtcampaign.org.uk + 44 207 324 4722
Rest of Europe: Øygunn Brynildsen obrynildsen@eurodad.org +32 2 894 4645

We hope many of you will join us!

—END—

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Economic Crisis

DEBT, THE IMF, AND THE WORLD BANK: SIXTY QUESTIONS, SIXTY ANSWERS

Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers
By Éric Toussaint and Damien Millet

Translated by Judith Abdel Gadir, Elizabeth Anne, Vicki Briault, Judith Harris, Brian Hunt, Christine Pagnoulle and Diren Valayden, with the collaboration of Francesca Denley, Virginie de Romanet and Stephanie Jacquemont

http://www.monthlyreview.org/books/sixtyquestions.php

ISBN: 978-1-58367-222-8
$17.95 paperback
368 pages
September 2010

Economics / Imperialism & War

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“This excellent handbook on the Washington-based international financial institutions and the debt mechanism by means of which the Global South is subjugated is not only an indispensable tool for pro-poor anti-debt activists, but also a very useful synthesis that can and should be used in classrooms.” —Gilbert Achcar, Professor of Development Studies School of Oriental and African Studies, University of London.

“Éric Toussaint is one of the brightest and most influential economists of his generation. He is the founder of the CADTM, and has gained a worldwide reputation for his exemplary struggle against the ‘odious debt’ strangling countless countries in the South.” —Jean Ziegler, former UN Special Rapporteur

Mainstream economists tell us that developing countries will replicate the economic achievements of the rich countries if they implement the correct “free-market” policies. But scholars and activists Toussaint and Millet demonstrate that this is patently false. Drawing on a wealth of detailed evidence, they explain how developed economies have systematically and deliberately exploited the less-developed economies by forcing them into unequal trade and political relationships. Integral to this arrangement are the international economic institutions ostensibly created to safeguard the stability of the global economy—the International Monetary Fund (IMF) and the World Bank —and the imposition of massive foreign debt on poor countries. The authors explain in simple language, and ample use of graphics, the multiple contours of this exploitative system, its history, and how it continues to function in the present day.

Ultimately, Toussaint and Millet advocate cancellation of all foreign debt for developing countries and provide arguments from a number of perspectives—legal, economic, moral. Presented in an accessible and easily-referenced question and answer format, Debt, the IMF, and the World Bank is an essential tool for the global justice movement.

Éric Toussaint, a doctor in political science, is president of the Committee for the Abolition of Third World Debt, CADTM Belgium. He is author of A Diagnosis of Emerging Global Crisis and Alternatives, and The World Bank: A Critical Primer, among other books.

Damien Millet teaches mathematics and is spokesperson for CADTM France. He is the author of L’Afrique sans dette, and co-author with Éric Toussaint of Tsunami Aid or Debt Cancellation.

Posted here by Glenn Rikowski

The Flow of Ideas: http://www.flowideas.co.uk

MySpace Profile: http://www.myspace.com/glennrikowski

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Cold Hands & Quarter Moon Profile: https://rikowski.wordpress.com/cold-hands-quarter-moon/

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