Dear Mr. Haering, I came across your blog post, “The microcredit mafia lowers its socially responsible mask,” and am compelled to respond to your assertions. I believe we share the same concern for client interests. FINCA also values an open discussion on how best to deliver critical financial services to people across the world, wherever they may live.
Muhammad Yunus and his Grameen Bank have received the Nobel Peace Prize on the promise of conquering poverty by giving poor people in poor countries access to debt. A whole industry of lending to the poor has developed from this. It is making its leading figures quite rich and is pushing many customers into misery and debt slavery. A recent tax-filing of the large microcredit-“charity” FINCA and an internal report tell us a lot about this business.
Where will be an important conference from 26.-28. November in Berlin on the need to reform economics education and on ways to do this. The meeting will be held partly in English, partly in German at the Berlin School of Economics and Law (HWR)
Early in 2013 the EU-Ombudsman ruled on a complaint of Corporate Europe Observatory and found that ECB-President Mario Draghi can legitimately be part of the Group of Thirty, a mixed group of international bankers and central bankers. My research shows that the reasons he gave at the time are not valid any more. Draghi will not be able stay in this highly problematic group, nor will ECB-Top-Supervisor Julie Dickson be able to continue to "contribute her experience".
Anasthase Contagyris is a French and Greek economist living in Athens. He is Co-Founder of Attac-Greece, CEO of Dialogos Ltd, an Athens Startup coaching and export facilitation consultancy he founded in 19887. He is a member of the Truth Committee on Public Debt of the Greek Parliament, which recently issued a preliminary report. We met in Frankfurt. He is well conneted, though not a member, to Syriza.
Presentation for the seminar “Economics and Power” on 23 March 2015, House of Lords, London: Ladies and Gentlemen, To pay tribute to the Marxist jargon, in which Lord Skidelsky has phrased the title of my subject, I would like to start with a quote from Karl Marx: "The ideas of the ruling class are in every epoch the ruling ideas. … The ruling ideas are nothing more than the ideal expression of the dominant material relationships, … the relationships which make the one class the ruling one, therefore, the ideas of its dominance." In my own words, that means that not all economic ideas are created equal.
In June 2011, Spiegel Online conducted and published a remarkable interview with Albrecht Ritschl. Ritschl is one of Germany’s most renowned economic historians, teaching at the London School of Economics. Already for years ago, he warned that Germany, being the worst debt offender in history, would ultimately regret it, if it insisted on behaving like the tough taskmaster of Athens and the rest of Europe. What Ritschl predicted is
You have to see this Video from dutch TV. Translateion from Pastebin: 'Jeroen Dijsselbloem': "I'm Jeroen Dijsselbloem, minister of finance and political phenomenon. Due to the frown line on my forehead and my penny-pinching look, you can immediately see that I'm an expert. I'm the right man for this position, let the Greek come my way- I will make them mad. I will get the money back, as it is my duty- and you cannot
Investor Protection in CETA and TTIP Leaves a Lot of Room for Improvement Say Legal Experts in Parliamentary Hearing
Professor Steffen Hindelang of the Free University Berlin, a renowned expert for international trade law hat today presented at a joint hearing of the EU-Parliaments committees on law and on international trade the findings of three studies, comissioned by the the parliament by him and by Professors Pieter Jan Kuijper (University of Amsterdam) and Ingolf Pernice (Humboldt-University).They agree that “The EU should include State-of-the art investment chapters in all of its comprehensive
On Thursday the ECB’s Governing Council will decide on whether to start a large bond buying program. I am afraid the decision is clear, though not for economic reasons. A few days later, the Greek will probably vote for a left leaning government under the Syriza-party, which wants to renegotiate the terms of the huge government debt, and is opposed to the EU-imposed austerity program which impoverished the country. There will be a standoff, a game of chicken, in which Brussels, Frankfort (the ECB) and Berlin
Let’s assume that there is a financial oligarchy which exerts strong political influence due to the vast amounts of money it controls. Let’s further assume that this financial oligarchy has succeeded in having financial markets deregulated and that this has enabled the financial industry to expand their business massively. Then, in some near or far future, their artfully constructed financial edifice breaks down, because it cannot be hidden any more that the accumulated claims cannot be serviced by the real economy.
A working paper published by the European Central Bank (ECB) shows that strong wage increases have not been the cause for troubles of the euro zone’s crisis countries. Rather, capital flows have caused bloated house and asset prices and exaggerated construction activity and unsustainable economic activity in general, which in turn has pushed up wages. This diagnosis flies in the faceof the of the story often retold by the ECB and