Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-01-13-Speech-4-103"
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"en.20050113.8.4-103"2
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".
External debt is a means of exploiting developing countries and of placing them at the mercy of the countries and the international financial institutions that are their creditors and of the economic interests that represent it.
This is wrong, it is immoral and it constitutes a major hindrance to development. It also diverts enormous amounts of money from the basic needs of the people of these countries, which more often than not earmark more money for debt repayment than for the total amount that they spent on health and education, thus preventing them from tackling diseases such as AIDS and tuberculosis or problems such as illiteracy, and many others.
Maintaining the debt is unacceptable. It is worth pointing out that the countries in debt have already paid seven times what they owed in 1982 and have, worse still, seen their debt rise fourfold. Furthermore, most of them have a history of colonial exploitation, which makes them creditors rather than debtors of the industrialised countries.
This ongoing situation is all the more incomprehensible following the writing off of 80% of Iraq’s debt, due to the imposition of the USA military occupying power and given estimates as to the active exploitation of Iraq’s wealth and the lucrative ‘business’ of reconstruction.
It is therefore essential that the debt of developing countries is cancelled, so that they can build a fairer world."@en1
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