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Finance and debt

A decade after the financial crisis shook the foundations of the global financial system, the Bretton Woods Institutions face an uncertain future. The following overview is written for a series on the 'crisis of multilateralism' by openDemocracy with The Bretton Woods Project.  This year marks the 75th anniversary...
We need a radically different and rebalanced financial system which ensures that the very poorest are included and actively supported to thrive, and in which developing countries have an equal say in making the rules governing the global economy. Toby Quantrill introduces a new briefing on the Sustainable Development...
Debt repayments by the world’s poorest countries have doubled since 2010 to reach their highest level since just before the internationally organised write-off in 2005, campaigners have warned. The Jubilee Debt Campaign (JDC) said a borrowing spree when global interest rates were low had left many developing nations...
Limiting global warming to 1.5°C will require major disruptive shifts, which people will tolerate only if they believe that everyone is sharing in the sacrifice, the wealthy and powerful included. A review of recent climate change reports, by Sam Pizzigati at Inequality.org. We either keep fossil fuels in the ground...
At long last the political debate in the world’s richest country is vibrant with proposals that would help the most vulnerable in our society. And what do we hear in response? A growing chorus of naysayers. “Just pipe dreams” – that’s how the Washington Post columnist Robert Samuelson referred to proposals for...
The global food system is broken, leaving billions of people either underfed or overweight and driving the planet towards climate catastrophe, according to 130 national academies of science and medicine across the world. Providing a healthy, affordable, and environmentally friendly diet for all people will require a...
When the global financial crisis resurfaces, we the people will have to fill the vacuum in political leadership. It will call for a monumental mobilisation of citizens from below, focused on a single and unifying demand for a people’s bailout across the world. A full decade since the great crash of 2008, many...
Redistribution via the tax code, progressives on both sides of the Atlantic are realizing, only takes us so far. We need to start limiting inequality before it can dig in, writes Sam Pizzigati for Inequality.org. In the United States, back during the Great Depression, three simple words animated a grassroots upsurge ...
On 15 September, it will be ten years since the collapse of Lehman Brothers opened a Pandora’s Box. Movements across Europe are commemorating the date with acts of disobedience to relaunch our struggle to rebuild democracy, which can only be done by controlling finance, writes Susan George. It is ten years since the...
We are experiencing a systemic crisis. The environmental, economic, social and political crises are part of an interrelated and interdependent whole. It is impossible to solve one of these crises without addressing the others. Complementarities between Vivir Bien, degrowth, the commons, deglobalisation and other...
There are increasing warnings of an imminent new financial crisis, not only from the billionaire investor George Soros, but also from eminent economists associated with the Bank of International Settlements, the bank of central banks.    The warnings come at a moment when there are signs of international capital...
According to the latest report by the Stockholm International Peace Research Institute (SIPRI), in total, countries around the world spent $ 1.739 billion on arms in 2017. Although there was a marginal increase of 1.1 percent rise in real terms on 2016, the total global spending in 2017 is the highest since the end of...
A new report reveals how western banks and governments turn a blind eye to billions of pounds’ worth of wealth, generated across west Africa, that is squirrelled away offshore, often out of sight of the tax authorities. By Phillip Inman. There is a comforting mainstream narrative which tells us that African nations,...
Thirty-one countries across the world are now in debt crisis, with a further 82 at risk, according to new figures released by the Jubilee Debt Campaign on 16 May. The figures are being released on the 20th anniversary of the G8 meeting in Birmingham (UK) 1998, when 70,000 people formed a human chain around the summit...
What are the political implications of meeting the established human right for everyone to enjoy an adequate standard of living? In short, it necessitates a redistribution of wealth and resources on an unprecedented scale across the world, which is why activists should resurrect the United Nations’ radical vision for...