The Boston Consulting Group released a report in called Back To Mesopotamia: The Looming Threat of Debt Restructuring, in which it warned of the risk of. Rhodes, D. and Stelter, D. () Back to Mesopotamia? The looming threat of debt restructuring, Boston: Boston Consulting Group. Sahlins, M. () Waiting. Rhodes David/Stelter Daniel (): Collateral Damage: Back to Mesopotamia? The Looming Threat of Debt Restructuring, BCG publications. Russel, Bertrand.

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He articulates the two contradictory forces battling in the debt black hole we face: Fill in your details below or click an icon to log in: Restrkcturing austerity has shrunk economies and made countries less able to pay debts. Leave a Reply Cancel reply Enter your comment here Published Articles Share this: The current Bank Of England interest rate is now off its lowest ever at 0.

MoneyWeek Magazine, January 6th Interest rates would have to rise heavily to attract bond investors back into buying British Treasury bonds, which they would see as highly risky investments that might go bust. All attempts to eliminate the debt have failed.

They point to the debt hhe made with Germany in which meant western Europe was reconstructed successfully and thrived.


Funny thing is – this is likely just a test run. BCG wrote the scenario up back | Hacker News

A debt Loming is in this sense a recognition that economic life must be socially rooted if it is to be sustainable: Email required Address never made public. The key to averting a second Great Depression now is to slash private debt through a unilateral write-off of irresponsible loans made by banks.

It posits that attempts to reduce the value of bck debt by inducing inflation through Quantitative Easing etc have failed. Who wants a Jubilee now? Keen warned correctly in the mids that the huge build up of private debt would cause an economic crisis far greater than those of the mids and early s.

How did it work in practice? And to heavily borrowed businesses, investment banks and hedge funds? Writing off debts encourages future recklessness. In other words, any write-offs big enough to alter consumer behaviour would probably also be big enough to destabilise or even sink the banks. You are commenting using your Facebook account. Chief among them is the Australian economist Steve Keen.

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In his recent book Debt: How do you reconcile the competing forces of insufficient growth and too much debt?


European sovereign debt — everybody owes everybody, so what might happen if everybody agrees to write-off what they owe each other?

The UK would be left with by far the largest debt. Post was not sent – check your email addresses!


Sorry, your blog cannot share posts by email. In the Jewish and Christian traditions, a Jubilee is a special year marked by a forgiveness of sins, remission of debts and a universal pardon. And threatened to cause an implosion in the global banking system.

Interest earned from debt creation has been very profitable for the centres of wealth — bondholders and bankers. The protest calls go global. Leviticus 25 contains most of the instructions on property rights and debt, as given by God. But there are also plenty of more orthodox voices who support the idea of massive mesopotania relief as the only route out of a financial crisis and economic depression caused by excessive debt.