KAIROS Debt E-Bulletin Feb. 21, 2006 (Vol.2, Issue #2)
"Will US debt lead to a financial crisis?" is the title of a new KAIROS briefing paper on debt and finance issues.
This paper is an abriged and updated version of a discussion paper first prepared for the South North Consultation on "Resistance and Alternatives to Debt Domination held in havana last September.
The paper discusses the prospects for a global financial crisis caused by the USA’s huge external debts. It discusses some of the implications for Canada as well as how a financial crisis might create conditions for mass defaults or repudiations of illegitimate debts by Southern countries.