1. The debt and austerity cycle

2. UK unemployment 1922- 1960

3. Economic growth per person, per year, 1980- 2000

4. Bailouts and austerity External debt in the global South

5. Impacts: In 1980s Latin America Population living in poverty increased from 144 million to 211 million Africa Population living in extreme poverty increased from 205 million to 330 million

6. Zambia

7. “Zambia has implemented government expenditure reduction which as been virtually unmatched in Africa.” IMF and World Bank, 1990s

8. Zambia In the 1990s, for every £1 spent on healthcare, £2 was spent on paying debts.

9. Zambia In the 1990s, for every £1 spent on healthcare, £2 was spent on paying debts. In 1980, 8 out of 10 children were enrolled in primary school. By 2000 it was 7 out of 10.

10. Zambia In the 1990s, for every £1 spent on healthcare, £2 was spent on paying debts. In 1980, 8 out of 10 children were enrolled in primary school. By 2000 it was 7 out of 10. In 1980, 3 out of 10 people did not get enough to eat everyday. By 2000 it was 4 out of 10.

11. Argentina

14. First world debt crisis

15. What caused debt crisis? Crisis countries: Greece, Japan, UK, Germany Safe countries: Iceland, Spain, Ireland

16. What caused debt crisis? Crisis countries: Iceland, Greece, Spain, Ireland, UK Safe countries: Germany, Japan

17. Unemployment

18. 1948 - 19721972 - 2008

19. 1948 - 19721972 - 2008 Banking crises

20. 1948 - 19721972 - 2008 Banking crises 0.1 a year2.6 a year

21. 1948 - 19721972 - 2008 Banking crises 0.1 a year2.6 a year Government defaults

22. 1948 - 19721972 - 2008 Banking crises 0.1 a year2.6 a year Government defaults 0.2 a year4 a year

23. 1948 - 19721972 - 2008 Banking crises 0.1 a year2.6 a year Government defaults 0.2 a year4 a year Economic growth per person

24. 1948 - 19721972 - 2008 Banking crises 0.1 a year2.6 a year Government defaults 0.2 a year4 a year Economic growth per person 2.8 per cent1.8 per cent