Tag Archives: Debt refusal

The French are right: tear up public debt – most of it is illegitimate anyway

The French are right: tear up public debt – most of it is illegitimate anyway
As history has shown, France is capable of the best and the worst, and often in short periods of time. On the day following Marine Le Pen's Front National victory in the European elections, however, France made a decisive contribution to the reinvention of a radical politics for the 21st century. On that day, thecommittee for a citizen's audit on the public debt issued a 30-page report on French public debt, its origins and evolution in the ... Read more

Creditocracy or Democracy?

Creditocracy or Democracy?
The formula used to trap personal debtors today is much the same as the International Monetary Fund’s formerly controversial lending arrangements to poor countries — loan installments are made so that borrowers can service existing debts, while the principal is rolled over. With average incomes stagnant or falling, households have no alternative but to follow the same path. The likely consequence is that they end up performing a lifetime of ... Read more