TOUSSAINT-Audit-of-Greece’s-Debt150407.pdf
The Audit of Greece’s Debt: Is The Debt “Illegal” or “Illegitimate”
Eric Toussaint’s Speech 4th April 2015 – Hellenic Parliament
By Eric Toussaint
Global Research, April 07, 2015
Eric Toussaint is a historian and political scientist with a PhD from the universities of Paris VIII and Liège. He is spokesman for the CADTM (Committee for the Abolition of Third World Debt) international network, of which he is one of the founding members, and he took part in the process that launched the World Social Forum in 2001. / source wikipedia *
The Committee will audit the Greek debt in the coming months, aimed at finding out whether part of the Greek public debt is illegitimate, illegal, odious or unsustainable.
Without claiming to be exhaustive, one can propose the following definitions:
- Illegitimate public debt : debt that was contracted by a government without considering the public interest, a debt contracted in favour of a privileged minority.
- Illegal debt : debt contracted in violation of the current legal or constitutional system.
- Odious public debt : granted on conditions that violate fondamental human rights (the social, economic, cultural, civic, and political rights of the people).
- Unsustainable public debt : debt that can only be paid back with dire consequences for the people such as a dramatic degradation of their living conditions, of access to health care or education, an increase in unemployment. In short, debt that undermines basic human rights. (…)
There are also 3 conditions proposed to define an odious debt
- lack of consent;
- lack of benefit to the population;
- awareness of the lenders.
Conclusions: The Committee will audit the Greek debt in the coming months, aimed at finding out whether part of the Greek public debt is illegitimate, illegal, odious or unsustainable
— full text see URL above and attachment —
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Martin Zeis
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