FROM THE ARAB REVOLUTIONS TO GLOBAL AUSTERITY

by Third World Network

3 May 2013

To highlight some of the complex dynamics and challenges of the IMF’s role in the Arab region, in a context of continuing popular uprisings that are calling for social and economic justice and for transforming the national development paradigm, and to link it to the waves of austerity across Europe, the US and other regions, a panel discussion titled “From the Arab Revolutions to Global Austerity,” was held on the sidelines of the spring meetings (19-21 April) of the IMF and World Bank. More

HOW THE BANKS DO IT

by Donald Mackenzie

2 May 2013

The insurance that taxpayers provide to banks has the effect of making it seem to bankers that it is much cheaper for them to take on debt to fund their assets than to raise cash from shareholders, for example by issuing new shares. More

EXPLAINING THE CYPRUS SHAKEDOWN

by Bryan Cenko

2 May 2013

Policymakers have neglected to consider-or simply do not care about-the lasting negative consequences the terms of the bailout will have on Cypriot citizens for the foreseeable future, to say nothing of their implications for the EU itself. More

BRICS BANK: DOING DEVELOPMENT DIFFERENTLY?

by Brunn Nagara

12 April 2013

The annual Brics summit held during the week in Durban, South Africa, focused on what that muscle can do - challenge the World Bank and the International Monetary Fund in the way development finance is conducted, as well as the Western dominance that has prevailed in both Bretton Woods institutions. More

CYPRUS : AS THE FINANCIAL CRISIS DEEPENS, WILL THE LESSONS BE LEARNT?

by Martin Khor

12 April 2013

The Cyprus crisis has again shown that over-dependence on the financial sector and an unregulated and liberalised financial system can cause havoc to an economy. More

GLOBAL FINANCIAL FLOWS, AID AND DEVELOPMENT

by Eurodad

30 March 2013

This paper - written by Eurodad for CONCORD’s Aidwatch coalition - sets out all the financial resources potentially available for development. It examines their key characteristics and discusses their poverty and sustainable development impacts, as well as the implications for aid. More

CYPRUS - WHOSE CRISIS?

by Petros Kosmas

29 March 2013

Cyprus’s banking sector did not grow so recklessly and to an unsustainable size in order to best serve Cypriots’s social and economic needs. More

WHY WE NEED A FINANCIAL SPECULATION TAX

by Mark Weisbrot

18 March 2013

Unfortunately, the lavishly financed debt-scare crowd has the upper hand for now and is threatening to cut vital programs such as Social Security and Medicare. For that reason, and because in the long run our government will need more revenue for long-underfunded spending such as education and infrastructure, it is worth considering progressive measures to increase federal revenue. More

WHY CHAVEZ’S LEGACY WILL LIVE ON

by Martin Khor

15 March 2013

The death of Hugo Chavez last week sparked an outpouring of grief in Venezuela and South America, but his legacy will live on in his policies and South-South initiatives. More

ILLICIT FLOWS UNDERMINE HUMAN RIGHTS, SAYS UN EXPERT

by Kanaga Raja

15 March 2013

The UN Human Rights Council, Independent Expert on foreign debt Mr Cephas Lumina said that it is estimated that, on average, developing countries lost between US$783 billion and US$1,138 billion in illicit financial outflows in 2010 More