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Author Archive | Éric Toussaint

A statue of Saddam Hussein being pulled down in Firdos Square in April 2003

The Odious Iraqi Debt

This article, originally written towards the end of 2003, is now published on our website for the first time in English. The odious Iraqi debt is still under-documented today, though it is highly relevant in our research and our proposals against all illegitimate, illegal, odious and unsustainable debts. It is a rare case where a […]

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Venezuela: In Transition towards Socialism?

Nationalization and Workers’ Control: Achievements and Limitations The economic, social and political situation in Venezuela has changed a lot since the failure of the constitutional reform in December 2007, which acted as a warning to the Chávez government.1  This failure had the effect however of reviving the debate on the need to have a socialist […]

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Third World: Is Another Debt Crisis in the Offing?

While taking a significant toll on public revenues,1 repayment of the public debt has, since 2004, ceased to be a major concern for most middle-revenue countries and for raw material-exporting countries in general.  In fact the majority of governments of these countries are having no trouble finding loans at historically low interest rates.  However, the […]

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The Triple Failing of the Big Private Banks

Since August 2007, US and European banks have constantly made headline news concerning the deep crisis they are going through and its knock-on effect on the neoliberal economic system as a whole.  Asset depreciation for these banks currently stands at over 200 billion dollars.  Several banking research services and seasoned economists estimate that the final […]

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