Greek Truth Committee on Public Debt – Preliminary Report (Executive Summary)

All the evidence we present in this report shows that Greece not only does not have the ability to pay this debt, but also should not pay this debt first and foremost because the debt emerging from the Troika’s arrangements is a direct infringement on the fundamental human rights of the residents of Greece. Hence, we came to the conclusion that Greece should not pay this debt because it is illegal, illegitimate, and

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The Russian Loan and the IMF’s One-Two Punch: Ukraine Denouement

The fate of Ukraine is now shifting from the military battlefield back to the arena that counts most: that of international finance. Kiev is broke, having depleted its foreign reserves on waging war that has destroyed its industrial export and coal mining capacity in the Donbass (especially vis-à-vis Russia, which normally has bought 38 percent of Ukraine’s exports). Deeply in debt (with €3 billion falling due on December 20 to Russia), Ukraine faces insolvency if the IMF and Europe do not release new loans next month to pay for new imports as well as Russian and foreign bondholders.

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Japan’s Debt Trap Business Week, May 18, 1998  Japan’s Debt Trap   OFFICIAL LEVELPUBLIC About 100% of GDP,DEBT or $4.5 trillion. That’s on a level with such highly leveraged Western countries as Belgium, Canada, and Italy.NONPERFORMING About $600 billion. TheBANK LOANS government … Continue reading

CAFTA?s Debt Trap

FPIF Special ReportJune 2005 CAFTA?s Debt Trap By Aldo Caliari | June 2005      Criticism of the Central American Free Trade Agreement (CAFTA) currently being considered by the U.S. Congress has focused heavily on concerns that the treaty would … Continue reading