> What problem? Isn't that the purpose of he whole thing?
>
>
> On Sun, Jun 12, 2005 at 07:50:11PM -0700, Jim Devine wrote:
>> One problem, as I understand it, with this is that countries have to
>> follow G8 dictates (i.e., free market economics) in order to get
>> their debt written off. Is that a valid understanding?
>> JD
>>
>> On 6/12/05, Doug Henwood <dhenwood at panix.com> wrote:
>>> FT.com - June 12, 2005
>>>
>>> Caution over G8 debt plan for poor countries
>>> By Chris Giles and Friederike Tiesenhausen Cave
>>>
>>> While the Group of Eight finance ministers were hailing a "historic
>>> breakthrough" at the weekend after they agreed to cancel the debts
>>> of 18 poor but well-governed countries, doubts were already being
>>> raised about how great an impact the deal would have.
>>
Geez... Next they'll be demanding a Tobin tax! The *nerve* of _some_ people!
http://www.ceedweb.org/iirp/factsheet.htm
"In a video, which was also broadcast as an advertisement on U.S. television, Penelope Cruz, Jamie Foxx and other celebrities joined Pitt and Robertson in asking Americans to demand that the United States give 1 percent of its national budget to reduce poverty. That works out to about $25 billion. "
News Analysis: Debt relief result of large lobby
By Elizabeth Becker The New York Times
MONDAY, JUNE 13, 2005
http://www.iht.com/bin/print_ipub.php?file=/articles/2005/06/12/news/debt.php
<...> Joseph Stiglitz (one of Paul Krugman's "buddies"/lcm)) a former chief economist at the World Bank, said, "This is a recognition at the very minimum that the debt burden has impeded economic growth - has strangled many of these countries - and I would like to believe it is a recognition by the advanced industrial nations of a degree of culpability for much of the overall debt."
The agreement to wipe out debt is only the first episode in an unfolding saga. This stage will last through the Group of 8 meeting of seven industrial nations and Russia at Gleneagles, Scotland, next month. The second big push will be in September when the United Nations holds a global summit meeting in New York.
The last stop will be Hong Kong where the World Trade Organization meets in December to try to help change international trade laws to benefit poor countries.
"This is a pitch for the poor we've never seen before," Lawson said. "It's quite exciting and it just might work." <...>