The CADTM participates in the European Summer University 2022, in Mönchengladbac, from August 17 to 21

In addition to forums, plenaries and numerous workshops on the main issues we deal with and fight (fiscal and climate justice; defense of public interests commons
Commons
In economics, commons are characterized by the fact that they belong to the community, as opposed to private or public ownership. In philosophy, the term refers to what is shared by the members of a community, whether it is a city or all of humanity, from a legal, political or moral point of view.
; access to housing, health care
Care
The concept of “care work” refers to a set of material and psychological practices intended to provide a concrete response to the needs of others and of a community (including ecosystems). We prefer the concept of care to that of “domestic” or “reproduction” work because it integrates the emotional and psychological dimensions (mental load, affection, support), and it is not limited to the “private” and free aspects by including also paid activities necessary for the reproduction of human life.
, public transport, culture, education; labor and wages; feminisms; international fair trade; peace, etc.), it offers thematic excursions (forests, social history) and stimulating cultural activities.

These European summer universities are organized on the initiative of the European network Attac in partnership with organizations such as the Rosa-Luxembourg Foundation, Transform Europe, the Transnational Institute, the CRID, the CADTM, the Agora of the inhabitants of the Earth.

They take place every three years (this edition has been delayed due to health measures). The first was held in Saarbrücken in 2008, then in Friborg in 2011, in Paris in 2014 and in Toulouse in 2017.

Thursday August 18, 10am-12pm (room S304), we will examine the question of Ukraine’s debt that we demand cancellation, with the Ukrainian economist Yuliya Yurchenko, professor at the University of Greenwich and activist of the Ukrainian social movement (online intervention) and with Éric Toussaint, spokesperson for CADTM international. We will try to unravel the functioning of the debt system in this country victim of Putin’s military aggression.

When, how and why did Ukraine incur a huge foreign debt? Which part does the IMF
IMF
International Monetary Fund

Together with the World Bank, the IMF was founded on the day the Bretton Woods agreements were signed. Its first mission was to support the new standard exchange rate system.

When the Bretton Woods system of fixed rates ended in 1971, the main function of the IMF became that of being both policeman and fireman of world capital: it acts as policeman when it applies its structural adjustment policies and as a firefighter when he intervenes. to help governments at risk of not repaying their debt.

As with the World Bank, a weighted voting system works: based on the amount paid as contribution by each member state. 85% of the votes are needed to modify the IMF Charter (meaning that the USA with 17.68% of the votes has a de facto right of veto on any change).

The institution is dominated by five countries: the United States (16.74%), Japan (6.23%), Germany (5.81%), France (4.29%) and the Kingdom United (4.29%) .
The other 183 member countries are divided into country-led groups. The most important (6.57% of the vote) is led by Belgium. The smallest group of countries (1.55% of the vote) is led by Gabon and includes African countries.

http://imf.org play? Alongside war damage, economic and political processes are lasting sources of suffering for populations, and we must understand them in order to better combat them.

Also on Thursdays from 4:30 p.m. to 6:30 p.m. (room S301), we participate in a workshop Debt, finance and climate justice, coordinated by Daniel Willis (Global Justice Now). He will once again expose how the financing of the fossil industry and the refusal to cancel the debts of the countries of the South contribute to climate change and deteriorate the living conditions in the countries of the South which are the first affected. A just transition must be financed by taxes imposed on polluters and by “climate offsets”.

On Friday 19, 10 – 12 (room W310), two workshops have merged: the Argentine people against the loan contracted by their government with the IMF is now part of the workshop entitled ‘From North to South: denouncing the illegitimate debt of the working classes throughout the world’ . After having defined the notion of illegitimate debt, we will examine together how it can be applied to most loans contracted with international financial institutions as well as to private debts such as micro-credit, mortgage
Mortgage
A loan against real estate collateral. There are two kinds of mortgages:
1) the most common form where the asset the loan is used to purchase is used as collateral;
2) a broader use of the property to guarantee any loan: it is sufficient that the borrower owns and pledges the property as collateral.

or student debt. In the current context, we will illustrate our point with an enlightening comparison between the profits made by pharmaceutical and CI TNCs on the one hand and public debts on the other.

Éric Toussaint will present his recent book world Bank
world Bank
BM

The World Bank was founded within the framework of the new international monetary system set up in Bretton Woods in 1944. Its capital is made up of contributions from member states and loans on the international money markets. It has funded public and private projects in Third World and Eastern European countries.

It is made up of several closely associated institutions, including:

1. The International Bank for Reconstruction and Development (IBRD, 189 members in 2017), which grants loans in productive sectors such as agriculture or energy;

2. The International Development Association (IDA, 159 members in 1997), which grants long-term loans (35-40 years) to the least developed countries at very low interest rates (1%);

3. The International Finance Corporation (IFC), which provides both loan and equity financing to business enterprises in developing countries.

As Third World debt worsens, the World Bank (along with the IMF) tends to adopt a macroeconomic perspective. For example, it applies adjustment policies intended to balance the payments of heavily indebted countries. The World Bank advises countries that must undergo IMF therapy on issues such as reducing budget deficits, rounding up savings, bringing foreign investors within their borders or freedom of prices and exchange rates.

: a critical history (Syllepses, 2022, to be published soon by Pluto Press). Information on date, time and location to be confirmed.) The book traces the destructive journey of this international institution which, like its twin sister the IMF, implements policies directly opposed to those assigned to them in 1944 and which are always present. in their official speech. It offers many case studies.

Join us there! Free or cheap accommodations are available.

More info at https://www.esu22.eu/en/.

About Mitchel McMillan

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