The new developing world debt crisis
A new debt crisis has begun in impoverished countries. The UK needs to take responsibility now for the debt contracted under English law. Read the 4 page briefing here. Summary A…
Vulture funds
France passes law to clip vulture funds’ wings
Companies prevented from seeking large profits on debts they bought when a government could not pay. France has passed a law to prevent vulture funds or other creditors from seeking…
Russia suing Ukraine in London shows failure of global debt rules
Russia’s case against Ukraine for repayment of a $3 billion loan will begin in London on Tuesday 17 January. Commenting ahead of the case, Sarah-Jayne Clifton, Director of the Jubilee…
The new developing world debt crisis
A new debt crisis has begun in impoverished countries. The UK needs to take responsibility now for the debt contracted under English law. Read the 4 page briefing here Summary…
Campaigners call for UK government to enforce Ukraine debt deal
Vulture funds and Russia could sue Ukraine through London courts Ukraine has reached an in principal agreement with some of its bondholders to reduce the amount of debt owed by…
ECB to make between €10 and €22 billion profit out of loans to Greece
The European Central Bank and its member national central banks are on track to make between €10 billion and €22 billion of profit out of lending to Greece, if Greece…
George Osborne should support a package of debt cancellation for Greece
Commenting on the meeting between Greece’s Finance Minister Yanis Varoufakis with Britain’s George Osborne this morning, Sarah-Jayne Clifton, Director of the Jubilee Debt Campaign said: “Greece’s debt comes from loans…
UN votes for rules to stop vulture funds
The United Nations General Assembly has passed a resolution to create new legal rules to stop financial speculators like vulture funds from undermining debt restructurings. The motion, passed by 124…
Developing countries propose new global debt rules
Over 130 developing countries have unanimously submitted a proposal to the United Nations calling for new legal rules to stop predatory financial speculators like vulture funds from undermining debt restructurings.…
Vulture funds profit from shadowy financial markets
In the wake of Argentina being blocked from making debt payments, there is much speculation about who lies behind various trades taking place in financial markets. Argentina has been declared…