Jubilee Debt Campaign Birmingham

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In an article in the Guardian of 9th October John Sentamu, Archbishop of York, calls for a new Jubilee.

 

He points out that today the poorest in our society – in the richer nations as well as the poorer – are suffering the most from a financial crisis caused for the most part by the greed and speculation of the wealthy. He argues that a new Jubilee today requires lenders and borrowers jointly to share risk so that the burden of debt is shared

Second, governments should reckon to raise funds not just by borrowing but progressive taxes, including those for companies and investors. Thirdly there must be rules for financial markets to work better. Regulation of capital flows should help to shift money from being a means of speculation to that of exchanging goods.

Points that are covered in jubilee for Justice

Add you support and read the article  in full

Rev John Nightingale Chairman of Jubilee Debt campaign Birmingham group

 

According to the BBC website on Sat 13th December the President of Ecuador has given the order not to approve a debt interest payment due on Mon 15th December. That was because a large proportion of Ecuador’s $10 billionhad been contracted illegally.

In July 2007 the government set up an investigating commission to examine debts for their legitimacy, legality, transparency, quality, efficacy and efficiency among other qualities and is now acting on the basis of its findings (published in November 2008) which, according to the Guardian, was that 40% of the debt was inadmissable.

The country’s foreign debt amounts to about one fifth of its Gross Domestic Product.

In the short run this decision could mean that others will refuse to lend Ecuador money which could put it in difficulties if oil, it’s main source of revenue, declines.

But in the long run Ecuador’s action forces the rest of the world to confront the immorality of many past loans, and flags up the need for an international mechanism for sorting such issues out in which poor countries can be represented as well as rich ones.

John Nightingale

The “Stand Up Against Poverty” event in Victoria Square this afternoon was encouraging. We were near the Iron Man statue, at the bottom of the steps which lead up to the square where many people were passing and could have a look at us. There were about 70 in our group wearing white headbands and “Drop the Debt Badges”. Jewish, Muslim and Christian faith groups were represented. A stilt walker dressed like a policeman drew the attention of the passers-by, as did the beating of a drum.

Around 2pm Mohammed Imran got to work with the loud hailer. He introduced students from UK and Morocco who are spending time in Birmingham on a Global Exchange Programme. One after the other, every three seconds they lay down to show how frequently a child in our world dies from poverty or hunger – the equivalent of thirty thousand children a day or ten million a year. We finished by joining together in a pledge: “As part of the generation that demands an end to poverty, I stand up: for the children killed by poverty today; to insist that governments keep their promises and aim even higher, for action not excuses, for justice and equality. I stand up against poverty”. Many bystanders signed their names to show they were standing with us.

Last year 43.7 million people stood up world wide. This year the target is over 67 million, one percent of the world’s population. So why not use Oct 18th and 19th to get your friends, congregation or organisation to stand, and enter the numbers on the website: Stand up and Take Action? Standing up is one small step, but it’s an indication that we can overcome poverty – if we have the will.

A picture of the Jubilee debt logo

A picture of the Jubilee debt logo

We are asking everybody to Stand Up To Take Action Against Poverty And Inequality. This will take place over three days from Friday the October 17th to Sunday October the 19th. The intention is to have 65 million people all over the world standing up and this is one percent of the world’s population.

Put your numbers into the website at www.standagainstpoverty.org but specially we invite you to the Birmingham event at 2pm on Saturday the 18th October in Victoria Square.

Further details on www.jubileedebt.pwp.blueyonder.co.uk

We went to a social media surgery thing and a guy called Stef helped us set this up!

And he told us lots of things we didn’t need to know.

Cool hey?


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This is the blog of the local group of the UK campaign calling for cancellation of international Debt.

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