Hellenic Parliament’s Debt Truth Committee: Presentation of the Preliminary Findings

Press Release

Hellenic Parliament’s Debt Truth Committee:

Presentation of the Preliminary Findings

The Hellenic Parliament’s Debt Truth Committee will announce on 17-18 June 2015 the preliminary findings of its works, examining the legality and sustainability of the Greek public debt.

The Committee’s works will begin on Wednesday, 17 June 2015 (10:30am)), at the Senate Hall of the Parliament. The opening session will be addressed by

  • Mrs. Zoe Konstantopoulou, President of the Hellenic Parliament

  • Mrs. Sofia Sakorafa, Member of the European Parliament

  • Dr. Eric Toussaint, Debt Truth Committee Scientific Coordinator

  • Other state officials and guests from Greece and abroad

at the presence of Prime Minister, Mr. Alexis Tsipras.

A summary of the preliminary findings will be presented at the opening session, while a detailed presentation of the report, chapter by chapter, by members of the Debt Truth Committee will follow.

The works of the Committee will continue on Thursday morning at 10:30 and conclude with a press conference, which will be held at the Hellenic Parliament Lounge (“Entefktirio”) at 16:00.

The works will be open for the media, while interpretation will be available for foreign press correspondents and press foreign guests.

Introduction: “We are auditing Greece”

What is exactly happening with Greece, what lies behind the negotiations and how important is debt and what are the consequences for the Greek people?

Last month Greece began a Debt Audit process which aims to analyse its debt on the basis of it being illegal, illegitimate, odious or unsustainable, through the Greek Debt Truth Committee. This international group has representatives from the Spanish Citizen Debt Audit Platform (PACD) and people from related groups such as the Committee for the Abolition of Third World Debt (CADTM) or the Observatory of Debt in Globalization (ODG). Continue reading

“Debt Truth Committee” about the Greek Public Debt

On March 17th 2015, Zoi Konstantopoulou (president of the Greek Parliament) together with Sofia Sakorafa (MEP) and Eric Toussaint (CADTM) made public in a press conference the creation of the Truth Committee about Greek public debt.

On March 4th, Zoi Konstantopoulou officially presented in the Parliament the Truth Committee about Greek public debt: the “Debt Truth Committee.”


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Appeal to support the resisting Greek people and the Truth Committee on Public Debt

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!

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Terms of reference for the Hellenic Parliament’s Truth Committee on Public Debt

Introduction by Sergi Cutillas, member of the Truth Committee

In response to the terrible situation in Greece related to its debt, the President of the Greek Parliament decided on April 4, 2015, to constitute a special committee of the Parliament (“The Committee for the Truth on Public Debt”) to investigate the truth about the origin and increase of the Greek public debt, to audit the debt and to promote international cooperation of the Greek Parliament with the European Parliament with parliaments of other states and with international organizations in matters related to debt. The Committee’s agenda aims to address the whole range of aspects, both legal and social and economic, that demand an appropriate consideration in order to raise awareness of the Greek people, the international community and international public opinion on this issue.


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Definitions for a Debt Audit

21 May by Truth Committee on the Greek Public Debt

The Debt Audit conducted by the Hellenic debt Truth Committee makes reference to the debt classification based on a very precise terminology that needs to be very clear: illegitimate, illegal, odious and unsustainable.

“Illegitimate debt”
Debt that the borrower cannot be required to repay because the loan, security or guarantee, or the terms and conditions attached to that loan, security or guarantee infringed the law (both national and international) or public policy, or because such terms or conditions were grossly unfair, unreasonable, unconscionable or otherwise objectionable, or because the conditions attached to the loan, security or guarantee included policy prescriptions that violate national laws or human rights standards, or because the loan, security or guarantee was not used for the benefit of the population or the debt was converted from private (commercial) to public debt under pressure to bailout creditors.


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Greek crisis: “Human rights should not stop at doors of international institutions”

Originally Published by Hellenic Parliament Press Office

GENEVA (2 June 2015) – The United Nations Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky, has urged European institutions, the International Monetary Fund and Greece to show courage and reach a deal on the Greek debt crisis that respects human rights. In a statement, Mr. Bohoslavsky stressed that human rights should not stop at the doors of international organizations and international financial institutions.viral06_tw Continue reading

Why it would be good for the IMF if Greece stopped repaying the IMF loans

Entry Originally Published by Eurodad by Bodo Ellmers

The creditor community has another shock and awe moment this week, as more and more influential actors argue that Greece should stop repaying the International Monetary Fund (IMF) loans and instead use scarce public resources to tackle its economic and humanitarian crisis. While Prime Minister Tsipras still tries to ease the creditors, the idea is here to stay. And it is a good one: Greece should not just postpone loan repayments but default on them – stopping payments to the IMF for good. This would help to finally reform the IMF from the political puppet that it is now into a real and effective crisis response instrument.


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Speech by the President of the Hellenic Parliament on Public Debt

Zoé Konstantopoulou defended the starting of  “Truth Commission”, which would issue Greek Public Debt. Spanish Citizen Debt Audit Platform (PACD) collaborates with the Greek audit.

Originally Published by CADTM

Ladies and Gentlemen, thank you for being here today at an event that is of historic importance and marks the beginning of the repayment of a true debt: to reveal the truth and be accountable to the Greek people and society about how the debt hanging over the heads of all citizens and of the young ones in particular originated and increased / was created and has ballooned. The public debt that is being used as an instrument of blackmail and subjugation, as a tool of submission in conditions that are far removed from the ecumenical principles of democracy, equality, equity, respect for human rights and freedoms and social progress and are leading to shrinking democratic spaces, discrimination, exclusion, extreme poverty and a humanitarian crisis.

zoe Continue reading

Transforming crisis to Krisis

Originally Published by International Citizen Audit Network

By Insurgenta Iskra

Crisis. Originally, the word derives from the ancient Greek verb “krinein”, meaning to judge in order to take a decision and its noun, “krisis”, meaning judgment, decision. According to Steven James Venette[1] “crisis is a process of transformation where the old system can no longer be maintained.”

In Greece, the obsessive persistence of the ruling elites in rescuing by any means the current socioeconomic system, even during its long phase of death rattle, has fuelled a significant social mobilisation towards the Alternative Route, striving to transform crisis to krisis.


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