Feb 24
Wednesday
Tax ResearchA wake-up call from Vultures
Debtonation » Blog Archive » A wake-up call from Vultures .
Ann Pettifor in fine form:
In the international financial system, the Rule of Law seldom applies.
It is in this context that a wake of vultures (for that is the collective noun) hovers over weakened debtor nations as diverse as the Congo, Iceland, Greece and Portugal and operate in a context of weak international law.
They are international creditors, and their presence reminds us once again of the urgent need for governments to co-operate to devise international law to protect effectively insolvent sovereign nations from rapacious creditors. In just the same way that e.g. the US’s Chapter 11 protects insolvent companies from creditors.
Quite so, and she chillingly documents why.
Post Tags:
Related Posts
Related Post
Popular
- Is Deloitte The Perfect Firm? (27)
- Hello? Big 4? Are You Out There? (2)
- Going, Going, Gone - Auditors Still Not "Concerned" Enough About Client Viability (2)
- Eevryone’s at it (1)
- Osborne’s £7 billion error on company inversions (1)
Featured Articles
Enjoy the Article? Subscribe!
