News Archives international bankruptcy mechanism - Justice, Peace, and Integrity of Creation
Victory at the UN! September 9th, 2014
Despite a disappointing no vote from the United States, the UN General Assembly earlier today voted 124 – 11 to begin negotiations for an international bankruptcy process to end global inequality. The process can potentially stop vulture funds from preying on vulnerable countries and create a global economy that serves all of us.
Unfortunately, the United States government was one of only 11 countries to vote against this treaty process. While the US government is against predatory behavior, they are against this approach. We have much work left to do because today’s UN vote will not outlaw global predatory activity in the United States, one of the most important financial jurisdictions.
Read Jubilee USA’s press release and analysis of the vote here.
Yesterday, we asked you to contact United States UN Ambassador Power and urge her to support the resolution, and we thank everyone who spoke out on this issue. Thousands of faxes, calls and emails were sent to Ambassador Power in response to this request from Jubilee USA and Network members. Churches, synagogues, the AFL-CIO and dozens of Catholic religious orders joined you and amplified our message.
We will continue to update our network on this important issue. For information and analysis on the international debt, please visit Jubilee USA