"Lowering the public debt burden is not an end-in-itself. Under certain circumstances, debts could serve to stimulate the economy and improve the living conditions of the victims of the crisis. Debt reduction must occur mainly by increasing the (tax) revenues (through higher tax rates and combating tax evasion), not only by reducing spending... Stopping the austerity measures has absolute priority."
Eric Toussaint is president of the Committee for Cancellation of the Debts of the Third World.
to read "For a European Anti-Crisis Front" and "The Negotiating Position of the South," click on