WEED releases fact sheets for G8-Summit in Heiligendamm

01.06.2007: On the occasion of the G8-Summit, WEED released several fact sheets on summit topics. The fact sheets are aimed at briefly and concisely informing about G8-relevant topics and providing critical analyses.

The fact sheet "Hedge Funds, The incarnation of predatory capitalism” elucidates the functioning of hedge funds and gives an example of how their speculative and unpredictable character can threaten the global economic system. Furthermore, social, ecological and employment related risks are being revealed that can accrue due this new type of capitalistic valorisation.

The fact sheet "A summit of empty promises - The G8 and Africa”, published jointly by WEED and terre des homes, explicates the double-tongued Africa-policy of the G8. Whilst the German Federal Government accentuates, that the summit should deliver an "optimistic message of faith in Africa’s future”, African governments get confronted with a reality of capitalistic greed of gain. The text aims at chronically scrutinising the previous G8 Africa policy as well as empty promises regarding debt-relief-initiatives, development assistance and trade liberalisation.

WEED-contact persons during the G8 summit in Heiligendamm:

• Peter Wahl, +49 160 8234377, peter.wahl@weed-online.org
• Daniela Setton, +49 179 7102094, daniela.setton@weed-online.org
• Klaus Schilder, +49 177 4341642, klaus.schilder@weed-online.org
• Peter Fuchs, +49 177 6334900, peter.fuchs@weed-online.org