lenders-should-forgive-debt

Lenders should forgive debt

Author Margaret Atwood suggests debt forgiveness could be one way to restart the world economy.

I'm a screaming optimist, says Man Booker Prize-winning author Margaret Atwood. These two words not only describe the author, but highlight her view on the way out of the current economic crisis.

According to Atwood, the economic crisis will not end until banks and financial institutions agree to forgive the massive amount of debt on their books. To back up her position, she references the ancient Greek politician Solon who, at a time of stagnation in the Greek economy, abolished all debts as a solution.

What had happened was a few rich people had got all the money into their own hands and it wasn't moving, says Atwood. Money is worth nothing when it doesn't...

¬ Haymarket Media Limited. All rights reserved.

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