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Are
You Financially
In Debts? Struggling to Free
Yourself? Worrying,
Worrying
& Worrying! Not
enough money
coming
in to cover your living
expenses
and debt
payments, Thinking
As To How
To
Get Yourself Out Of Bankruptcy!?
Predicament!?
Crisis!? Your Family
&
Children
were
critically affected; Education,
Health,
Employment,
etc. all gripping thought
have
the hold on You, Life
would not be the same
&
the last
thought
“
Wanting to end
Your
Life!”
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Free!
Causes
of the Debt Crisis
Many
people know what it feels like to owe money, even if only to a building
society for a mortgage. But it's a different matter altogether to be
deeply in debt and unable to repay it. And even worse to be in that
situation if someone else ran up the debt and left you to carry it.
When individuals become deeply indebted, they draw a
line under the debt. That line is called bankruptcy. It is a line beyond
which they do not allow people to fall. No such line can be drawn in
international law. When poor countries become deeply indebted they fall
into an abyss of economic degradation. Their governments owe vast sums to
Western governments and international, Western-controlled institutions.
These same institutions then take on responsibility for determining levels
of debt relief. This is unjust. It's time we did something about it.
Debt can also lead to and contribute to war. As
countries become poorer because of their debts, one route that people take
is violence and protest. As this escalates, it can end in war - and does
in many countries of the Third World. As the debt crisis broke in the
early 1980s, violence in many indebted countries around the Third World
erupted into war or escalated dramatically.
Millions of people around the world are living in
poverty because of Third World debt and its consequences. Latin America
owes £365 billion in debts to other countries and banks (36 per cent of
what it produces - its Gross National Product), while sub-Saharan Africa
owes £140 billion (83 per cent of its total GNP). These enormous debts
mean that repayments to Western Creditors take priority and ordinary
people suffer: in poor health, in restricted access to education, in lack
of employment and in limited ability to trade and provide for
themselves.
In the Third World countries 7 Million children die each year
as a result of the debt crisis 3981943 children have died since the start
of the year 2000. The poor have been hit
hardest.
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