Sunday 25th August 2019
x-pressed | an open journal

debt

The student that made a fool of the theory of cuts

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The student that made a fool of the theory of cuts

If you haven’t read the story, you have to. A couple of days ago we told you about it: one of the studies constantly cited by politicians and economists in order to impose their policies of cuts and austerity, Growth in a Time of Debt, published in 2010, was wrong. And all this because of [...]

April 19, 2013 Author: Manuel Ángel Méndez

Interview with Éric Toussaint

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Interview with Éric Toussaint

It is a simple task, there are very clear criteria. In the case of Greece more than half of the debt is with the Troika, 170 billion euros. It is totally illegitimate and should be declared invalid because it was imposed by agencies not representing the Greek citizens. Not even the memoranda have been treated [...]

April 3, 2013 Author: Luis Giménez San Miguel

IMF: the industry of apologies

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IMF: the industry of apologies

Since people learned to apologise the sense of honour was lost, an old Greek saying goes. In the case of the IMF, along with the sense of honour, millions of lives and trillions of dollars were also lost. Yet, in our humble opinion, the IMF should follow an old advice of Mahatma Gandhi: "Never apologise [...]

March 1, 2013 Author: Aris Xatzistefanou

Portugal: Playing government

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Portugal: Playing government

“Perhaps the most important question one should be asking regarding the IMF report about the Portuguese State entitled “Rethinking the State. Selected Expenditure Reform Options”, is how the IMF management can carry out such a role. A second issue, more common, would be to understand why the Portuguese government is bothered with this kind of [...]

January 10, 2013 Author: Pedro Lains

Notes on finances (and chimpanzees)

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Notes on finances (and chimpanzees)

After reflecting a little about the subject, it occurred to me that perhaps it will be important if someone presented Vítor Gaspar [Portuguese Minister of Finances] to a human being. [...]

December 6, 2012 Author: Ricardo Araújo Pereira

Agreement for a miracle

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Agreement for a miracle

A transnational “agreement or contract” is, according to the definition, “a written or verbal concurrence of will between several states to create legal rights and obligations binding for the signatories”. On the other hand, a “miracle” is any event that, according to the established, scientifically accepted criteria, is considered inexplicable and is a statistical improbable [...]

November 27, 2012 Author: Panos Panagiotou

When water is for sale

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When water is for sale

The privatisation of state water companies around the world almost always has one common denominator: it is made ​​under the pressure of international lenders in countries with large debt or under the pressure of multinational corporations and politicians in countries with a strong economy. The dominant argument is that the state takes too long to [...]

November 13, 2012 Author: Fragkiska Megaloudi

Europe’s Austerity Madness

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Europe’s Austerity Madness

So much for complacency. Just a few days ago, the conventional wisdom was that Europe finally had things under control. The European Central Bank, by promising to buy the bonds of troubled governments if necessary, had soothed markets. All that debtor nations had to do, the story went, was agree to more and deeper austerity [...]

September 29, 2012 Author: Paul Krugman