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DEVELOPMENT FINANCE

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An alliance of people's movements across Asia united with the world's largest civil society groups this week in celebration of the Global Week of Action on Tax Justice.

Asian alliance joins global call for tax justice

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We in the Asian Peoples Movement on Debt and Development stand in solidarity with the Greek people as they struggle against the harsh loan conditions recently imposed by the European Union in exchange for a new debt deal.

The EU’s decision, pushed largely by Germany, came in the wake of the Greek people’s resounding referendum vote of “no!” to more austerity measures that in the past further exacerbated their poverty and deprivation and plunged them deeper in the abyss of debt. Widely scored as ruthless and vindictive, the new conditions consist of even more stringent measures that include additional VAT hikes, pension cuts, liberalization of the labor market, swift, far-reaching legislative changes and a massive selloff of valuable Greek assets amounting to $55 billion.

Two previous loan injections brought relief indeed – not to Greece, but to the European Central Bank, the International Monetary Fund, the vulture funds and bondholders and other financial institutions. Offered as “bailouts” for the Greek people, they bailed out instead the very entities whose actions caused this crisis, from irresponsibly and aggressively peddling loans, to imposing onerous and enslaving loan conditionalities.

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PRESS RELEASE

MANILA, 17 July 2015 – The Asian Peoples' Movement on Debt and Development criticized the agreement from the third United Nations Financing for Development (FFD) summit in Ethiopia, which concluded yesterday.

:The outcome document is riddled with contradictions, reflecting the nature of the FFD process as a contestation between different paradigms and interests. Important passages under the Action Agenda reveal that the interests of big finance capital, private corporations, global elites and rich country governments have triumphed," said Lidy Nacpil, APMDD coordinator.

:The process has failed to even yield what would have been small but important victories such as the commitments to set up a global intergovernmental tax body, to scale up climate finance, and to study and pursue the issue of illegitimate debt," she added.

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The Asian Peoples’ Movement on Debt and Development (APMDD) salutes the people of Greece for decisively choosing to break the chains of austerity and debt. In a historic referendum yesterday, July 5, over 60% of voters said “No” to stronger austerity measures imposed by the “troika” – the International Monetary Fund, European Central Bank and European Commission.

We and many other peoples of the global south share their struggle against illegitimate debt, austerity measures and neo-liberal economic policies. We know only too well the devastating impacts of debt and anti-people policies imposed by the IMF, other international financial institutions and lender governments.

They have wreaked havoc in countries around the world, plundering natural resources and pushing people deeper into poverty in favor of elites and corporations. But instead of owning up to their responsibility, they have chosen to blame the very people they have wronged and insist on the perpetuation of illicit financial policies and illegitimate debts.

We will continue to stand in solidarity with the people of Greece as they enter a new phase in their struggles. We reiterate our call for the cancellation of all illegitimate debts, in Greece, in our countries and elsewhere. We also call for an end to the imposition of austerity measures and other neo-liberal policies which have trampled on the very freedom and dignity of peoples across the world.

6 July 2015

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PRESS RELEASE

MANILA, 3 July 2015 – In solidarity with the Greek people and government, an Asian alliance of social movements and organizations stated their support for the call for a "no" vote in this Sunday's historic referendum.

"We and many other peoples of the global south share the struggle of the people of Greece against​ ​illegitimate debt,​ ​austerity​ ​measures and neo​-​liberal economic policies. We know only too well the devastating impacts of debt and anti-people policies imposed by the International Monetary Fund, other international financial institutions and lender governments," said Lidy Nacpil, coordinator of the Asian Peoples' Movement on Debt and Development,​ ​a part of​ ​the​ ​global anti-debt network
Jubilee South.

"Thus we​ ​support the call of the​ ​Syriza​ ​government​ ​for a 'no' vote,​ ​and​ ​the right​ ​of the people of Greece​ ​to chart their own future free from the troika's stranglehold," she added in a statement.

On Sunday, July 5, Greeks will take part in a national referendum on a technically-defunct bailout offer which would enforce stronger austerity measures in their debt-ridden country. Greece missed a $1.7 billion loan payment to the IMF last Tuesday, the first developed country to do so.

A "yes" victory will pave the way towards the negotiation of a new bailout, with tougher budget cuts and tax rises, and undermine the Syriza government. A "no" victory, on the other hand, would support the government's rejection of the imposition of the "troika" – the IMF, European Central Bank and European Commission.

APMDD is also a signatory of an international statement released today which blamed the "troika" for Greece's current situation.

"The world has experienced how debt burdens and neoliberal impositions have created havoc on economies, depleted natural resources, exacerbated inequalities, and impoverished peoples while siphoning off billions of dollars to global capitalist banks, giant corporations and imperialist governments," the organizations said in the joint statement expressing solidarity with the Greek people.

"Your struggle is our struggle. Your victory is our victory," they also stated.

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The Asian Peoples' Movement on Debt and Development (formerly Jubilee South–Asia Pacific Movement on Debt and Development) is a regional alliance of peoples' movements and organizations, coalitions, and nongovernmental organizations.

Contact Denise Fontanilla at for more information.