NOTE : ARCHIVED ARTICLE
Putting the Debt Crisis on Ireland's EU Presidency
Agenda
Next stage in encouraging EU Action on the Debt Crisis
March 04 original campaign call
to contact Minister Cowen ( for
latest see follow up here )
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Council of Ministers - Foreign Affairs 26/27 April 2004.
This is one of the most important meetings for debt campaigners
during Ireland's EU Presidency. In particular, the meeting
will focus on the EU's contribution towards meeting the
2015 Millennium Development Goals. In 2002 the EU made
eight commitments to these Goals - one of these commitments
covers debt. The debt commitment is very weak because
it focuses mainly on the Heavily Indebted Poor Countries
initiative. This initiative has failed to resolve the
debt crisis. A major problem with it is that it does not
take into account the resources a country requires to
meet its people's needs. On the contrary debt reduction
is based on a purely economic indicator i.e. the ratio
of debt to export earnings.
The 'European Debt Delegation' which we organised to
the European Parliament in December 03 and January 04
is lobbying for a strengthening of the EU's commitment
on debt. We are calling for debt reduction to be linked
to the achievement of the 2015 Millennium Development
Goals. Our proposed approach would mean that the first
call on a country's resources would be the money needed
for human development including the Millennium Development
Goals. Debt servicing would only be paid if there were
extra resources remaining after the above approach.
Clearly the poorest countries will need all their resources
for their development.
We need to call on Minister Cowen to fulfil Irish
promises on debt
Our message for Mr. Cowen is that he must fulfil the
promises made
- by the Taoiseach when he addressed the European
Parliament - he promised that Ireland would "use
whatever opportunities arise during our presidency
to promote debt relief".
- by Minister Kitt when he stated that he would put
debt on the EU agenda. Minister Kitt has also recognised
that a new debt initiative is needed and that the
EU can do more to help solve the debt crisis.
Let's maintain our struggle for debt cancellation and
write to Minister Cowen urging greater EU action in
tackling the debt crisis. Below we have included a draft
letter, which you can use or adapt.
Debt and Development Coalition Ireland
March 2004
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