The French are right : tear up public debt – most of it is illegitimate anyway | Razmig Keucheyan | Comment is free

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  • Dette illégitime, une analyse de Razmig Keucheyan (le Guardian)

    The French are right: tear up public debt – most of it is illegitimate anyway | Razmig Keucheyan | Comment is free | The Guardian
    http://www.theguardian.com/commentisfree/2014/jun/09/french-public-debt-audit-illegitimate-working-class-internationalim?CMP

    This deliberate organisation of ignorance – agnotology – in neoliberal economies intentionally renders the state powerless, even when it could have the means to know and act. This is what permits tax evasion in its various forms – which last year cost about €50bn to European societies, and €17bn to France alone.

    Hence, the audit on the debt concludes, some 60% of the French public debt is illegitimate.

    An illegitimate debt is one that grew in the service of private interests, and not the wellbeing of the people. Therefore the French people have a right to demand a moratorium on the payment of the debt, and the cancellation of at least part of it. There is precedent for this: in 2008 Ecuador declared 70% of its debt illegitimate.

    The nascent global movement for debt audits may well contain the seeds of a new internationalism – an internationalism for today – in the working classes throughout the world. This is, among other things, a consequence of financialisation. Thus debt audits might provide a fertile ground for renewed forms of international mobilisations and solidarity.

    #dette