Support for the resisting Greek people. For the people’s right to audit public debt


Click here to sign this Appeal

Indicative list of 800 personalities supporting Greece

To the people of Europe and the whole world!

To all the men and women who reject the politics of austerity and are not willing to pay a public debt which is strangling us and which was agreed to behind our backs and against our interests.

We signatories to this appeal stand by the Greek people who, through their vote at the election of 25th January 2015, became the first population in Europe and in the Northern hemisphere to have rejected the politics of austerity imposed to pay an alleged public debt which was negotiated by those on top without the people and against the people. At the same time we consider that the setting up of the Greek Public Debt Truth Commission at the initiative of the president of the Greek Parliament constitutes a historic event, of crucial importance not only for the Greek people but also for the people of Europe and the whole world!

Indeed, the Truth Commission of the Greek Parliament, composed of volunteer citizens from across the globe, is destined to be emulated in other countries. First, because the debt problem is a scourge that plagues most of Europe and the world, and secondly because there are millions and millions of citizens who are rightly posing basic and fundamental questions about this debt:

What happened to the money that made up this loan? What were the conditions attached to it? How much interest has been paid, at what rate? How much capital has been repaid? How was the debt allowed to accumulate without benefiting the people? Where did the capital go? What was it used for? How much was diverted, by whom, and how was this done?

And also: Who took out this loan and in whose name? Who granted the loan and what was their role? How did the state become involved? By what decision, taken with what authorisation? How did private debts become ‘public’? Who set up such inappropriate schemes, who pushed in this direction, who profited from them? Were offences or crimes committed with this money? Why has penal civil, criminal and administrative responsibility not been established?

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Tsipras letter to the Troika, accepting most conditions

Last minute letter, dated July 1st 2015, from the Greek Prime Minister Alexis Tsipras to the Troika, states that Greece will accept most of the terms of the last offer received from Brussels. The referendum scheduled for this Sunday July 5th is designed to ask the Greek citizens to decide on the final proposal.

Download it here


“Auditing Greece” press conference

Press conference July 1st, 10h (in Spanish)
At the Federacio Catalana de ONGs BARCELONA


Diego Borja, Minister of Finance in Ecuador during the restructuring of debt in that country

Daniel Munevar, advisor to the Greek Minister of Finance Yanis Varoufakis

Sergi Cutillas, researcher at the Spanish Citizen Debt Audit Platform (PACD) and the Observatory of Debt in Globalization (ODG).


Troika’s proposal for Greece

Last Sunday June 29th, the European Commission made public the Troika’s last proposal for Greece.
The Greek Government calls for a referendum on this proposal next July, 6th.


The proposal can be downloaded HERE.

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Alexis Tsipras’ Speech, calling for a referendum

The full speech of Greek Prime Minister Alexis Tsipras, calling for a referendum on lenders’ bailout terms.

Text extracted from Reuters.

My fellow Greeks,

For the past six months the Greek government has been giving battle in conditions of unprecedented economic asphyxiation, to implement your mandate, of Jan. 25. It was a mandate to negotiate with our partners to end austerity and to restore prosperity and social justice to our country.

(It was) for a viable agreement which would respect both democracy, common European rules and would lead to a definitive exit from the crisis.

Throughout this negotiation period, we were asked to adopt bailout agreements which were agreed with previous governments, even though these were categorically condemned by the Greek people in the recent elections.

But we did not, even for a moment, contemplate yielding. That is, to effectively betray your own trust.

After five months of tough negotiations our partners, unfortunately, concluded at the Eurogroup the day before last with a proposal, an ultimatum, to the Hellenic Republic and the Greek people.

An ultimatum which contravenes the founding principles and values of Europe. The value of our common European structure.

The Greek government was asked to accept a proposal which accumulates unbearable new burdens on the Greek people and undermines the recovery of Greek society and its economy, not only maintaining uncertainty, but by amplifying social imbalances even further.
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Eurogroup statement on Greece

The Eurogroup, without the Greek Minister of Finance Yanis Varoufakis – who has been expelled from the meeting – has spoken.

Since the 20 February 2015 agreement of the Eurogroup on the extension of the current financial assistance arrangement, intensive negotiations have taken place between the institutions and the Greek authorities to achieve a successful conclusion of the review. Given the prolonged deadlock in negotiations and the urgency of the situation, institutions have put forward a comprehensive proposal on policy conditionality, making use of the given flexibility within the current arrangement.

Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally. The Eurogroup recalls the significant financial transfers and support provided to Greece over the last years. The Eurogroup has been open until the very last moment to further support the Greek people through a continued growth-oriented programme.

The Eurogroup takes note of the decision of the Greek government to put forward a proposal to call for a referendum, which is expected to take place on Sunday July 5, which is after the expiration of the programme period. The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits.

The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area.

[1] Supported by all members of the Eurogroup except the Greek member.

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The banks’ secret behind the Greek tragedy

Maria Lucia Fattorelli [1]

Greece is facing a huge debt problem and a humanitarian crisis. The situation now is many times worst than it was in 2010, when the Troika – IMF, EU Commission and ECB – imposed its “bailout plan”, justified by the necessity to support Greece. In fact, such plan has been a complete disaster for Greece, which has had no benefit at all out of the peculiar debt agreements implemented since.

What almost no one talks about is that another successful bailout plan effectively took place at that time in 2010, although not for Greece, but in benefit of the private banks. Behind the Greek crisis there is a huge illegal bailout plan for the private banks. And the way it is being done represents an immense risk for Europe.

After five years, the banks got everything they wanted. Greece, instead, got into a real tragedy: the country has far deepened its debt problem, lost State assets as the privatization process was accelerated, as well as shrunk its economy drastically. Most of all, it has had an immeasurable social cost represented by the lives of thousands of desperate people who had their livelihood and their dreams impacted by the severe austerity measures enforced since 2010. Health, education, labour, assistance, pensions, salaries and all other social services have all been destructively affected.

The distribution of the Greek National Budget shows that debt expenses prevail over all other State expenses. In fact, the loans, other debt obligations, interests and other costs cover 56% of the budget:


Source: Εισηγητική Έκθεση Απολογισµού και Ισολογισµού 2013 – p. 90. Elaborated by Stavros Papaioannou.

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Greece proposal to the Troika

Last Monday’s new proposal from the Greek government (attached at the bottom of this entry) for the Eurogroup, less than seven days before the payment to the International Monetary Fund is officially due. The proposal contains 7.9 billion euros in measures, of which 7.3 are from increases to tax and social security contributions in a country that no longer has any tax collection capability.

Alexis Tsipras’ proposal, that will be carried to his meeting with the Troika representatives today, has many possibilities of being rejected by the Eurogroup, as there are important disagreements, even if the mainstream media talks about “progress”. In any case, different European Parliaments (including the Greek one) will have to approve it subsequently in plenary session.

What seems clear is that without an important release of the illegitimate debt, there doesn’t seem to be a fair path for the Greek population, that sees day by day how they are brushed aside by the creditors.Tsipras

You can download the proposal HERE.

Preliminary Report of the Truth Committee on Greek Public Debt

Published by CADTM

The Truth Committee on Public Debt (Debt Truth Committee) was established on April 4, 2015, by a decision of the President of the Hellenic Parliament, Ms Zoe Konstantopoulou, who confided the Scientific Coordination of its work to Dr. Eric Toussaint and the cooperation of the Committee with the European Parliament and other Parliaments and international organizations to MEP Ms Sofia Sakorafa.

Members of the Committee have convened in public and closed sessions, to produce this preliminary report, under the supervision of the scientific coordinator and with the cooperation and input of other members of the Committee, as well as experts and contributors.

Access the full Preliminary Report of the Truth Committee on Greek Public Debt
or the Executive Summary


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Executive Summary: Greek Public Debt Audit report

June 17th, by the Greek Debt Truth Committee

In June 2015, Greece stands at a crossroad of choosing between furthering the failed macroeconomic adjustment programmes imposed by the creditors or making a real change to break the chains of debt.
Five years since the economic adjustment programmes began, the country remains deeply cemented in an economic, social, democratic and ecological crisis. The black box of debt has remained closed, and until now no authority, Greek or international, has sought to bring to light the truth about how and why Greece was subjected to the Troika regime.

The debt, in whose name nothing has been spared, remains the rule through which neoliberal adjustment is imposed, and the deepest and longest recession experienced in Europe during peacetime.

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