bandora etrog | 13.03.2010 08:10 | World
from today's independent:
"A landmark move to protect the world's poorest countries from debt sharks was blocked yesterday by a single Conservative MP during extraordinary scenes in the House of Commons.
"Vulture fund" investment companies buy up defaulted third world debt and sue for immediate repayment. The Debt Relief (Developing Countries) Bill was designed to curb their activities, ensuring that creditors cannot pursue debt repayment beyond the level assessed as fair and sustainable by the World Bank. Liberia lost a £20m lawsuit against two vulture funds in a London court late last year."
chope, one of three tories in the chamber, objected to this bill. he is, however, quite happy to dig deep in to the public purse for costs such as covering his sofa bed in his second home in london.
contact him here: