imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

"A Subtle Form of Hypocrisy"

by Lydia Kruger Sunday, Feb. 06, 2005 at 7:13 PM

Between 1980 and 2003, .8 trillion in interests alone flowed from the South to the North. The heavy debts of developing countries more than tripled in this time period.


Offer of Deferring Debt Payments to Tsunami Countries was not Meant Seriously.

Interview with Lydia Kruger

[This interview originally published in: junge Welt, 1/21/2005 is translated from the German on the World Wide Web,]

[Lydia Kruger is project director at WEED (World Economy, Ecology and Development) and works in the nationwide ATTAC study group “Financial Markets”.]

After the flood catastrophe in the Indian Ocean, the leading industrial states offered deferment of debt payments to the stricken countries. Is this more than a drop in the ocean?

This is not a solution in any case. On January 12, 2005, the creditor lands in the Paris Club discussed “debt reduction”. Absurdly little came out of this. They offered a moratorium. The debt service due this year may be paid later. The problem is only shifted to the future.

The offer was not meant seriously. The larger countries refused this moratorium. Thailand and India immediately refused because they feared being punished by the private capital markets. Indonesia, Sri Lanka and Seychellen seemed to accept the offer. On January 13, 2005, German finance minister Hans Eichel (SPD) met with the Indonesian foreign minister and the same day the Indonesian government refused the offer. Indonesia must pay Germany 442 million Euro this year.

That marvelous offer follows the motto: We offer you deferment of payment but woe to you if you accept it…

This is a very subtle form of hypocrisy. For several decades, many countries have been heavily indebted, not only the countries now afflicted by the flood catastrophe. Between 1980 and 2003, .8 trillion in interests alone flowed from the South to the North. Nevertheless the heavy debts of developing countries more than tripled in this time period. A few years ago there was a HIPC initiative (Heavily Indebted Poor Countries) that should have cancelled the debts for the poorest countries. This only happened to a small extent under the conditions of the International Monetary Fund for introducing neoliberal structures.

With all the mourning over the flood disaster, we hope this is at least the occasion for setting the theme debt cancellation on the political agenda again. This will certainly be discussed February 4/5 at the meeting of the finance ministers of the G7 countries in London. We urge the German government to lead with a good example. The first necessary step would be the waiver of the German government’s demands to heavily indebted developing countries. Spread over 20 years, the annual costs will amount to 1.7 billion Euro. This can be financed. 1.7 billion Euro is the equivalent of three frigates for the German navy or as much as the German army spends for foreign deployments.

How heavily indebted are the countries of the so-called third world to the leading industrial countries as a whole?

Altogether there are .43 trillion in public and private debts. The economic aid of all industrial countries amounts to billion a year while the debt service of developing countries comes to 3 billion, more than six times the economic aid. This subsidizing of the rich countries by the third world must finally end.

What impulses for solving the debt problem do you expect from the World Social Forum that begins January 26 in Porte Alegre?

Strategies with other groups and debt cancellation initiatives from the whole world will be discussed. We start from the fact that we agree on common demands so we can finally reach a real debt cancellation. The developing countries must be liberated at last from the debt burden – not only with alms after disastrous natural catastrophes.

Report this post as:

Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM


lausd whistle blower A11 6:58AM

Website Upgrade A10 10:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 8:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 6:58PM

Change Links April 2018 A01 6:27PM

More Local News...

Other/Breaking News

Antrhopocène, le grand effondrement S19 9:53AM

Creative Destruction Hack Diamonds Windows/iOS/Android - Creative Destruction Generator S19 12:51AM

Abolir l'économie S18 11:18AM

The Dictatorship of Corporations S17 5:26PM

18 Lethal Consequences Of Hunting S17 3:13PM

Paraphysique de l'outplacement déontologue S15 6:51AM

Creative Destruction Hack Mod Generator S15 3:49AM

Shopping du bashing S14 8:42AM

After Lehman Brothers, Experts Say Global Financial Crisis Can Happen Again S13 8:28PM

“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen S12 9:30PM

Probabilités de fin d'humanité S12 6:49AM

Florida Area of Migrant Farmworkers Denied Right to Construct Health Clinic near NaplesCIW S11 2:57AM

Propagande de virus, virus de propagande S10 7:34AM

Steer clear of work morality! S09 12:10PM

Sweatshop Lodge Ceremony Continues in US Fed Prisons Led by Inmates S08 6:17PM

Paraphysique de l'origami S08 7:11AM

The Shortwave Report 09/07/18 Listen Globally! S06 11:23PM

August 2018 Honduras Coup update S06 12:28PM

Du réussissement putréfié S06 10:55AM

Brett Kavanaugh Filled The 5th Circuit With Execution Judges S06 6:14AM

Log S06 4:25AM

Augusta Georgia Woman Gets 5 Year Prison Sentence for Writing About Russians Crime Acts S05 8:29AM

Paraphysique de contextualité S05 8:29AM

Crisis Regulation in Global Capitalism S03 3:39PM

Ex-voto de réification S03 10:24AM

Please Oppose Warmonger, Execution and Torture Supporting Bush Operative Brett Kavanaugh A31 10:45PM

Paraphysique d'exploitation occultation A31 10:24PM

Ryan Zinke Is Charging Taxpayers For A Trophy Hunters' Council A31 2:10PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy