On Thursday night (8 March 2012) more than 85% of private creditors (banks, insurance companies, pension funds, etc.) agreed to take part in the restructuring of the Greek debt by cancelling EUR 107 billion. On paper it looks as though they are forfeiting 53.5% of their claims. Yet actually this is a sweet deal for Greek and European (mainly German and French) banks, though not for the Greek people, who will have to face further deterioration in their living conditions.They explain what this "sweet deal" really means for the Greek people.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Monday, March 12, 2012
The CADTM condemns the disinformation campaign on the Greek debt and the rescue plan by private creditors
Click here to access article from the Committee for the Abolition of Third World Debt (CADTM).