Washington DC – G7 finance ministers gather in Dresden, Germany, to discuss promoting “sustainable growth” in the face of growing globaldebt. US Treasury Secretary Jacob Lew is among the ministers gathering. The meeting takes place amid debt crises in the Eurozone and the developing world. The ministers meet after the International Monetary Fund (IMF) reported slow economic growth and increased debt burdens during the IMF/World Bank Spring Meetings.
“It’s impossible to experience sustainable growth, when wealthy and poor countries are struggling with unsustainable debts,” stated Eric LeCompte, Executive Director of Jubilee USA Network, who is in Dresden for the meetings.
The finance ministers gathered in Dresden include Joe Oliver of Canada, Michel Sapin of France, Wolfgang Schäuble of Germany, Pier Carlo Padoan of Italy, Taro Aso of Japan, George Osborne of the United Kingdom and Jacob Lew of the United States. JubileeUSA joined JubileeGermany in Dresden for several G7 outreach events organized on the growing debt crisis.
“Perhaps the most sustainable solution is the creation of a global bankruptcy process,” noted LeCompte, who recently helped create a United Nations roadmap on a bankruptcy process to address debt.
Next week G7 heads of state will gather in Krün, Germany, for the annual G7 Summit.
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Trump is busy getting ready for Day One of his presidency – but so is Truthout.
Trump has made it no secret that he is planning a demolition-style attack on both specific communities and democracy as a whole, beginning on his first day in office. With over 25 executive orders and directives queued up for January 20, he’s promised to “launch the largest deportation program in American history,” roll back anti-discrimination protections for transgender students, and implement a “drill, drill, drill” approach to ramp up oil and gas extraction.
Organizations like Truthout are also being threatened by legislation like HR 9495, the “nonprofit killer bill” that would allow the Treasury Secretary to declare any nonprofit a “terrorist-supporting organization” and strip its tax-exempt status without due process. Progressive media like Truthout that has courageously focused on reporting on Israel’s genocide in Gaza are in the bill’s crosshairs.
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