dChan
Anonymous ID: 840323 Jan. 9, 2019, 3:18 p.m. No.4685657   🗄️.is 🔗kun   >>5694

>>4685627

hey buddy!

good read

 

According to Sack, what are the two criteria that establish a debt as odious?

 

There is no doubt about Sack’s position: that a regime be despotic is not a sine qua non condition that makes debts odious and susceptible to repudiation. [4] According to Sack, all regular governments, whether despotic or democratic of some kind, may be accused of having agreed to odious debts.

 

What are the two criteria that establish a debt as odious? “Consequently, for a debt, regularly incurred by a regular government to be considered incontestably odious with all the consequences that follow, the following conditions must be fulfilled:

 

  1. — The new government must prove and an international tribunal recognise that the following is established:

a) that the purpose which the former government wanted to cover by the debt in question was odious and clearly against the interests of the population of the whole or part of the territory, and

b) that the creditors, at the moment of the issuance of the loan, were aware of its odious purpose.

  1. — once these two points are established, the burden of proof that the funds were used for the general or special needs of the State and were not of an odious character, would be upon the creditors.”

 

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