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Saturday, August 25, 2012

''Tunisia to Reject Odious Debt''

From The Real News Network

''If you watch The Real News, you might have seen a series we did a few months ago exploring the concept of odious debt. That's where a country's ruled by dictators, borrows money, in modern sense, from, usually, Western big banks, and those banks understanding and knowingly lend this money to this dictatorship knowing the money will not benefit the people of that country, knowing that that country's unlikely to be really capable of repaying these debts. And the concept of odious debt is that a subsequent government can declare these debts odious, that the banks should have known better, and not pay them back. Well, now an African country is apparently saying exactly that.''

video and text

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