The Guardian (February 26)
“Germany’s economic miracle was built on debt relief.” Today “unconditional debt relief” would help the poorest economies, countries that can’t reasonably repay their debts. “The biggest losers” should be private bondholders. “The UK and US should pass legislation requiring bondholders to take part in internationally agreed debt relief. The globalisation currently being orchestrated by the world’s richest countries is suffocating poor nations. What the German experience revealed is that removing the economic straitjacket would allow developing countries to breathe again.”
Tags: Debt relief, Debts, Economic miracle, Germany, Legislation, Poor nations, Private bondholders, Repay, Straitjacket, Suffocating, U.S., UK, Unconditional
New York Times (July 26)
“While the eurozone may have temporarily avoided a Greek exit, it is hard to see how a deal that requires more spending cuts, higher taxes and only vague promises of debt relief can restore the crippled economy enough to keep Greece in the currency union.”
Tags: Currency union, Debt relief, Economy, eurozone, Exit, Greece, Spending cuts, Taxes
