313: WHOSE SIDE IS THE UK ON?

URGENT ACTION

Dear supporter,

The greed of the vulture funds forcing Argentina into a new debt default this summer has shocked the world into action.

More than 100 developing countries have got together at the United Nations to demand a new way of dealing with debt crisis, to make sure vulture funds can no longer profit from a nation’s misery. An initial vote is expected on Tuesday.

We’ve got five days to try and influence how the UK votes on this potentially historic proposal.

Please tell George Osborne, the Chancellor, and Danny Alexander, the Chief Secretary to the Treasury, to support the anti-vulture resolution at the UN >>

This is the UK’s government’s chance to show which side it is on in the debt trial of the century. Is it on the side of the vulture capitalists like Paul Singer, owner of NML Capital, which is seeking over $1.3 billion and a 1,600% profit off the backs of the people of Argentina? Or is it on the side of the people of poor nations around the world who daily suffer the effects of a debt system stacked in favour of the rich?

A few years ago, the UK led the world in cracking down on vulture funds, with cross-party support for a vulture funds law protecting 40 countries from vulture tactics in UK courts. But since the Argentina case hit the headlines last year, the Coalition Government has stayed silent on this issue, despite 100 MPs calling for further action, and despite this case having implications for countries in debt crisis across the world, from Grenada to the Democratic Republic of Congo.

In private, they’ve suggested that the International Monetary Fund should take the lead on any measures to tackle vulture funds. But this proposal at the UN has vastly more credibility than the IMF – a major global lender run in the interests of the rich – could ever have. That’s why it’s vital that the UK doesn’t vote against this proposal next week.

The 2010 Coalition Agreement, which the Government will expect to be judged on at the ballot box next year, includes a commitment to‘review what action can be taken against vulture funds’. Let’s send a strong message that we expect them to stand with the people of countries in debt crisis next week, not with the vulture funds.

Please email the Chancellor and the Chief Secretary of the Treasury now >>

Thank you for all your support,

Jonathan Stevenson
Jubilee Debt Campaign

Photos: UK in Rome/Flickr, M. Holland/Flickr

Contact details

Jubilee Debt Campaign
The Grayston Centre
28 Charles Square
London
N1 6HT
United KingdomTel: +44 (0)20 7324 4722
Fax: +44 (0)20 7324 4723Email – for general enquiries and materials requests:
info@jubileedebtcampaign.org.ukWeb – http://www.jubileedebtcampaign.org.uk/

ACT NOW

More than 100 developing countries are proposing new global rules at the UN to stop vulture funds.

The UK has a chance to vote next Tuesday.

Tell the Chancellor and his deputy to side with impoverished nations not vultures funds >>

Vultures in the media

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–“A warm welcome to Zingcreed, a blog which tries to express solidarity with the oppressed. I am very pleased to copy this topical piece by Jonathan Stevenson, who is an acquaintance of mine, and bring vulture funds to the attention of a few more people. Please take action in the way the Jubilee Debt Campaign suggests — write to Danny Alexander and George Osborne!

For those of you who care, the ‘Jubilee’ is a biblical term; see Ezekiel 25 and Jesus’s references to it as well. Wider significance explored in ‘The politics of Jesus’ by J.H.Yoder, chapter 3.” Peter Turner, M.A., M.Sc.
[312, indexed & linked, t&c]
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