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Economic reform must not be an excuse for undermining human rights

Mark Perera

31 Jul 2017 16:37:51

Earlier this year, the UN Human Rights Council asked the Independent Expert on debt and human rights to develop guiding principles on human rights impact assessments (HRIAs) for economic reform policies. These principles will aim to provide states and international financial institutions, in particular, with guidance on how to identify the harmful impacts of structural adjustment and austerity measures. Equipped with the findings from HRIAs, decision-makers should take action to prioritise their obligations under international law and safeguard human rights. Now Eurodad has written to the Independent Expert setting out its views on what the key elements of these HRIAs should be, in order to guarantee they put the needs of citizens at the forefront of relevant economic decision-making. Looming ...

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Cyprus – the next chapter of dysfunctional EU debt crisis management

Konstantinos Todoulos

28 Mar 2013 11:04:25

By Costas Todoulos and Bodo Ellmers  After more than a week of messy negotiations, the Troika (made up of the European Union, the International Monetary Fund and the European Central Bank) and the government of Cyprus agreed on a bailout package for Cyprus on 24 March. Cyprus is set to receive a €10 billion loan, on the condition that it shrinks its financial sector and implements austerity policies. Private bank deposits above €100,000 will be taxed at 40% in order to raise the additional €5.8 billion needed to stabilise the country’s de facto bankrupt banks. Euro banking crisis chapter four   Cyprus has become the fourth European nation to fall victim to a banking crisis that was caused by irresponsible lending and lax financial regulation – following on the heels of ...