'Defuse the Debt Crisis'-campagne gelanceerd
Datum: 08-02-2011
Op het World Social Forum, dat deze week plaatsvindt in Dakar, is de 'Defuse the Debt Crisis' gelanceerd door onder meer Jubilee Nederland.
'Lees meer' voor het internationale persbericht of zie voor meer informatie www.defusethedebtcrisis.org
Press Release
World Social Forum in Dakar, Senegal
New International Debt Justice Campaign
This week, several civil society organisations are launching at the World Social Forum in Dakar, Senegal, an international campaign for a new Insolvency Framework for countries. The campaign entitled "Defuse the Debt Crisis” calls upon the international community, and especially French President Nicolas Sarkozy as this year’s president of the G20, to establish new rules for debt justice by giving support to a truly fair and independent Arbitration Court to address debt disputes when a country is struggling to repay loans or when the legitimacy of a debt can be questioned.
Countries all over the globe are experiencing worryingly high levels of debt, much of which has been caused by reckless private lending. Unsustainable and illegitimate debt impedes development and prevents poverty reduction in developing countries. The global financial crisis has deepened the problems of sovereign debt. A fair and lasting solution to the debt problem is urgently needed.
The European approach to the current debt crisis repeats the errors that helped turn the sovereign debt crisis of Southern countries in the 1980s into what was later called "a lost decade for development": Rather than holding investors responsible for the risks of their investments, public funds are being used at the expense of tax payers to bail-out the private sector.
NGOs and debt campaigns in both debtor as well as creditor countries have been working on alternatives to such protracted crises since the 1980s. Today they call upon governments to implement quick, fair and transparent debt workout mechanisms based on well-tested insolvency principles, rather than condemning debtor countries to protracted adjustments which ultimately make the poor pay, while securing profits from risky investments.
We are calling for a Debt Court that is independent of lenders and borrowers, that includes all lenders and all debts in one single procedure, that is predictable as it decides on the basis of clear rules and that is legally enforceable. This court would also assess the validity and legitimacy of individual claims. This could either be a permanent court or an ad hoc arbitration court created from case to case.
The campaign website is: www.defusethedebtcrisis.org
For more information:
Your organisation: ………………………………………………………………………
AND/OR:
Members of the Campaign Steering Commitee:
- Aktion Finanzplatz Schweiz (Switzerland), Phone +41 61 693 17 00, afp@aktionfinanzplatz.ch
- erlassjahr.de (Jubilee Germany), Jana Zwernemann, Phone +49 211 4693 196, j.zwernemann@erlassjahr.de
- EURODAD (international / Brussels), Oygunn Brynildsen, Phone +32 2 894 4640, obrynildsen@eurodad.org
- Jubilee Debt Campaign (UK), Tim Jones, Phone: +44 20 7324 4722,
tim@jubileedebtcampaign.org.uk
- Jubilee Netherlands (Netherlands), Koos de Bruijn, Phone +31 20 530 66 33, k.de.bruijn@jubileenederland.nl
- The Norwegian Coalition for Debt Cancellation – SLUG (Norway), Sigrun Espe, Phone: +47 911 37 078, slug@slettgjelda.no
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