Greece: Morsolin draws encouragement from Syriza’s win and Jubilee Debt International Campaign.


Not everyone believes that a Syriza win would be so terrible for the indebted country’s economic outlook or populace, who have turned to the party and its leader, Alex Tsipras, largely due to the impact of the tough austerity measures demanded of Greece.

On Monday 19 Jan 2015, the Jubilee Debt Campaign, an international organization which campaigns against “unjust debts” said that its analysis of IMF figures showed that almost all of the money lent by the IMF, and Europe to Greece has been used to pay off “reckless lenders, with less than 10 percent of it reaching the Greek people.”

“European and Greek banks have been bailed out, whilst a debt has been left with the Greek people,” Tim Jones, an economist at the Jubilee Debt Campaign said Monday.

“This is the same unjust response to a financial crisis as happened across much of the developing world in the 1980s and 1990s. Debt needs to be cancelled, and we need a new process for dealing with debt crises so that lenders do not continue to be bailed out, leaving the cost with the public, and incentivising more reckless lending and turmoil.”

Cristiano Morsolin, social debt expert in Latin-America, declared: “I agree the connection between the European Conference and a process of citizens’ audits of debt, to define what debt is to be considered as illegitimate and hence written off and what should be subject to renegotiation through a fair and transparent arbitration procedures. I call for a European Conference on Debt. Challenging the legitimacy of debt is also key to understand the responsibilities and related actions to be undertaken to make those responsible accountable. A Conference on Debt would also be important to identify the violations of human rights caused by debt and austerity programs and imagine the possibility to recourse to international human rights bodies to seek justice, as the Ecuadorian experience”.

“Hope has won” – inspired by huge vote for Syriza – now EU must listen to people & economists & respond with debt forgivenesss & support.



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