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Thirty years of debt crisis have devastated livelihoods across the world. Debt cancellation finally released some countries from one debt trap, but the First World Debt Crisis shows yet again why reckless lending and borrowing need to be governed and controlled. The First World Debt Crisis has led to government debts in impoverished countries increasing, and unregulated opaque private lending also risks increasing inequality and crisis. We need a new system for monitoring and regulating the way money moves across the world, so that finance works for people.
Source : http://www.jubileedebtcampaign.org.uk/stateofdebt
