n AfricaGrowth Agenda - Creation of an austerity dividend fund to mitigate the eroding effects of the financial crisis in Greece, Spain and Portugal

Volume 2013, Issue 1
  • ISSN : 1811-5187


The devastating effects of the current global financial crisis on the welfare of the Greek, Spanish and Portuguese populations and the overall health of the Eurozone invite academics and politicians to seek non-conventional solution/options beyond orthodox financial thinking and policy-making. This claim is made because standard international financial policy in fact seems to be unable to produce credible and sustainable responses to the three-country hecatomb. So far, the financial rescue formulae purposely derive from the interest and anguish of bankers and creditors but they show little concern about the three nations' economic and political debacle and even less about people's impoverishment.

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