Reuters calls for a haircut to kick start economy


Creditors need a new style

A Reuters Special report calls for a haircut (massive debt relief, or Jubilee) to kickstart the economy.

“More than three years after the financial crisis struck, the economy remains stuck in a consumer debt trap. It’s a situation that could take years to correct itself. That’s why some economists are calling for a radical step: massive debt relief.”


I find it amazing that the Reuters article claims that jubilee made it into popular culture through the Margaritaville episode of South Park.

Reuters makes no mention of  Jubilee 2000, the campaign America missed: The Jubilee 2000 debt relief movement mobilized millions of people, transformed international policy and shaped public opinion — in Europe.