1. Dissolution of the nationalist models

2.  What is debt?  What is the debt crisis?  How did it begin?  How does it affect different groups of people?  How does it affect ‘development’?  What is debt forgiveness ?  Concept of Odious debt

3.  http://www.bbc.co.uk/news/10150081 http://www.bbc.co.uk/news/10150081  “Ireland should do an Argentina”

4.  The poorest 48 countries have debts totalling US $168 billion, whilst for the poorest 128 countries, it is over US $3.7 trillion.  The total external debt of the very poorest countries was US $168 billion in 2008.  During 2008, these countries paid over $8.3 billion in debt service (payments of interest and principal) –over $23 million a day. If you include India and Pakistan, the figure would be closer to $116 m

5.  For all ‘developing’ countries, total external debt owed in 2008 was $3.7 trillion and over the course of that year they paid $602 billion servicing these debts.  Haiti ‘owes’ $891 million

8. ...lend poor countries money to pay interest on original loans. BUT the strict conditions are... International Monetary Fund (IMF) and World Bank: reduce spending on education, health, housing increase exports to get $$$ increase taxes

16.  Profits, lending opportunities in the West drying up  Means of control in domestic economies  Political goals (such as supporting particular regimes)

23. http://video.google.com/videoplay?docid=- 2375312569937088442#docid=4353655982817317115

25.  Different social classes in debtor countries have different interests and are unequally affected. Unity from “above”and fragmentation from “below”:  1. Each debtor country negotiates alone with a united creditor front.  2. Middle /lower classes from the North are also affected.

27. Developing countries pay $100 million per day to service their debts.

28. Many countries spend more on debt repayments than they can spend on vital public services like healthcare and education.

29. The estimated cost for poor countries to meet the UN Millennium Development Goals on health,

30. education

31. would require an extra $47 billion per year.

32. This is just 9% of the amount the developing world spends each year on servicing debt.

33.  Debt as a form of power?  How is it embedded in social forces, state forms and world orders?