#debt refusal

Report From Greece, Part 1

From Thessaloniki to Iraklion Summer 2015

by George Caffentzis

In the summer of 2015 I spent a month in Greece, from June 10 to July 10. I travelled from Thessaloniki to Volos to Athens to Sparta to the Mani to Crete then back to Athens. I stayed mostly with comrades, some new, some old and I was joined for ten days by Silvia Federici. What follows are some observations and comments on this…

Croatia cancelled debt of its poorest citizens, why can't we forgive our students theirs?

From the Washington Post:

Starting Monday, thousands of Croatia's poorest citizens will benefit from an unusual gift: They will have their debts wiped out. Named "fresh start," the government scheme aims to help some of the 317,000 Croatians whose bank accounts have been blocked due to their debts. Given that Croatia is a relatively small Mediterranean country of only 4.4 million inhabitants, the number of indebted citizens is significant and has become a major economic burden for the country. After six years of recession, growth predictions for Croatia's economy remain low for this year. "We assess that this measure will be applicable to some 60,000 citizens," Deputy Prime Minister Milanka Opacic was quoted as saying by Reuters. "Thus they will be given a chance for a new start without a burden of debt," Opacic said earlier this month.

In Creditocracy: and the Case for Debt Refusal, Andrew Ross explores the kind of alternative economy we need to replace a predatory debt-money system that benefits only the creditor class.

Below, his thoughts on student debt and what it would take to make college free.