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Debt Moratorium with 1%Tax? The Arctic Mouse that Roared
Birgitta Jónsdóttir has now placed the question of a debt moratorium squarely on the international agenda.
Her courageous move shows small countries can move world history by providing leadership for humanity in times of crisis, when existing institutions are increasingly paralyzed or corrupt.
In recent months, political forces in the Philippines and Sri Lanka raised the question of debt moratoria, as had the leaders of UNCTAD: United Nations Conference on Trade and Development.
With this news coming from Iceland, the formation of an international debtors’ cartel to confront London, Wall Street, and the IMF has suddenly become a real possibility.
Here’s the actual translated text of her speech, which is frighteningly relevant to and perhaps ahead of what’s going on in the United States:
Address On Iceland &The IMF, Debt
Moratorium, And Tobin Tax
Delivered by Birgitta Jonsdottir of The Movement in
the Icelandic Parliament, October 5, 2009
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Madam President. Dear countrymen. We have a choice to make. We are never faced with just one way, one solution. To assert so is a testimony to incredible tunnel vision on the reality that we live in. We are far from being the first and only nation that has had to deal with crisis and economic collapse. Perhaps what makes our position unique is that we are in an economic war, a war with nations that are using their positions of power to get what they want. Does that mean that all other avenues are closed? Are there perhaps other possibilities than chaining us with the burdens of foreign debt far into the future?
It certainly makes sense to lower our interest payments as soon as possible but is there perhaps another way? Why can’t we look at, or at least discuss, the possible solution of declaring a debt moratorium? The numbers I hear on the national debt are so huge and such a high percentage of our GDP, that according to all the standards we use, we are technically bankrupt. Is it maybe better to face reality before it is too late? Is it maybe better for our nation to take the crunch immediately instead of continuously adding to our foreign debt? Do we want to offer our children the hopeless conditions that many underdeveloped countries have had to offer their future generations? Do we want to be just another country that does not do anything other than pay off interest on foreign debts? What is the worst thing that could happen if we declare debt moratorium? Will the sky fall? Will we starve? Will we never again be able to get loans from the international community? Of course not.   Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Leave a Reply |