This is a weekly round-up of news, comment and analysis from Revolting Europe blog, plus our selection of the stories, photos and videos on the web. Click here A Week in Europe – Archive 2013 Friday May 10 Friday May 3 Friday April 26 Friday April 19 Friday April 12 Friday April 5 … Continue reading
Despite an infusion of tens of billions of euros funded by citizens now left with huge debts and a downsized welfare state, Spain’s nationalised banks are providing fewer loans to the credit-starved economy than private lenders. It’s all a very bad joke, says Vicente Clavero If something clearly reflects the huge bad joke being played … Continue reading
Privatisation has benefitted the very few, leading to massive job losses, delivering a bad deal for consumers and sowing the seeds of today’s financial and economic crisis, and yet the process goes on, says Marco Bersani. In an extract from his new book, Bersani surveys the case of Italy, home of one the world’s largest public … Continue reading
Thatcher introduced to Europe the economic and political model that is now destroying it. Here’s some dedications from critics (from the European mainland) of the late British prime minister, who has received such lavish, and unwarranted praise, in recent days. French Communist Party: For some she put an end to the “monopoly” of the unions, she … Continue reading
In Argentina, escraches were people who organized demonstrations outside the homes of people associated with the dictatorship. In Spain, this term has been borrowed by the Platform for Mortgage Victims (PAH), to apply pressure in favour of a Popular Legislative Initiative on evictions, with some protests being held outside the homes of the leaders of … Continue reading
The Eurozone’s central bank is taking advantage of the Cyprus crisis to pursue European banking union through an open contest between the strongest and weakest countries, argues Emiliano Brancaccio We still do not know the outcome of the banking crisis in Cyprus but we can already draw some lessons from it for the future. Many … Continue reading
Governments can and should impose a tax on the wealth of the super-rich to help resolve Europe’s banking crisis, says Attac Cyprus is experiencing a banking crisis of Irish or Icelandic proportions: a bankrupt banking system, which the European Union is demanding taxpayers bail out. Ireland and Iceland took radically different decisions, one favourable to … Continue reading
by Daniel Albarracín Desperate Cypriots will today only be able to take out 1,000 euros from ATMs . They know they will soon have to pay a “financial solidarity tax”, taken from their savings to rescue the private banking system. And to protect all those international creditors, so they can still receive money for debts … Continue reading
By Esther Vivas The land is a source of wealth for a few, here and on the other side of the planet. In Spain, the housing boom has left a legacy of ruinous urban development, airports (almost) without airplanes, ghost towns, huge, obsolete infrastructure projects… And in the global South, the desire to profit from the … Continue reading
By Vicente Clavero The two main parties in Spain, the Socialists and the Popular Party, should hang their heads in shame because it took a decision from overseas to fix our legislation on evictions. Legislation, which, since the beginning of the crisis, has been used by banks to seize the homes of half a million … Continue reading
Footloose, unaccountable global finance, privatization and a justice system that’s soft on white collar crime: these are the roots of the rising tide of sleaze in Spain and elsewhere. Governments must stop providing the corrupt with the weapons to commit their crimes says Juan Torres López Corruption is an old phenomenon and is spread throughout the … Continue reading
Spanish firefighters are refusing orders to participate in evictions because their duty is to “serve the public ” and intervene in “emergencies” and not to be “puppets of the bank or its servants in the government”. Firefighters in Galicia, Catalonia and the Madrid region have rejected any action that “contributes to inequalities and miseries suffered … Continue reading
By Manel García Biel The Spanish financial system crisis was caused by the over-indebtedness of financial institutions resulting from over-exposure to real estate which went boom and then bust. To deal with this financial crisis Spain implemented ‘reforms’ , paving the way for the country to obtain a bailout from the EU of 100 billion euros. … Continue reading
It is possible to cut finance down to size and emerge from the crisis. To make the banks pay without falling foul of European rules. And even to convince the IMF of its strategy. Giacomo Gabbuti looks at the lessons from Iceland While they were turning off the lights at that circus that is Davos, Iceland … Continue reading
Monte dei Paschi’s woes are being manipulated to complete banking privatisation Italy’s banks have been seen as pretty immune to the banking crisis affecting other European countries. But there’s a gathering storm facing the world’s oldest bank, Monte dei Paschi di Sienna, which has been revealed to have hidden enormous losses linked to derivative trades. The … Continue reading