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What’s the punishment for a 300 million euro tax fraud?

What’s the punishment for a 300 million euro tax fraud? If you are in Italy and your name is Silvio Berlusconi it is about a week hanging out with people your age. A court in Milan ruled earlier this week that as his sentence the 77-year-old billionaire media mogul and thrice Italian PM would be performing … Continue reading

How the EU’s budget straight jacket was born

In May 1981 in less than an hour Guy Abeille, then senior official of France’s Budget Directorate, invented the EU’s infamous deficit-to-GDP figure of 3 %. And the European austerity fest was born. Guy Abeille is known as “Monsieur 3%” . He’s the inventor of a concept signed up to and repeated ad nauseam by … Continue reading

Portugal and the Troika three years on 

By Catarina Oliveira Three years ago the Portuguese Government called in the Troika. “Save wages and pensions,” was the pretext but that did not happen. Today the dramatic social consequences of the entry of the Troika in Portugal are easy to analyse. A look at the figures shows the spiral of impoverishment in which the country is … Continue reading

The ECB and Europe’s deflationary spiral

IN THE RADICAL PRESS / IL MANIFESTO by Thomas Fazi* The latest figures from the European Central Bank are clear, and rubbish the rhetoric of “recovery” : the Eurozone is now on the brink of deflation. As one can easily deduce, if inflation indicates an increase in the prices of goods and services, deflation indicates … Continue reading

From expansionary austerity to expansionary precariousness: the latest doctrine is another European illusion

Interview with economist Emiliano Brancaccio / Micromega The deregulatory labour reforms of Italy’s new PM Matteo Renzi will fail because it is proven that “more casualisation does not mean more jobs”, argues economist Emiliano Brancaccio. Indeed, ‘the wager on the race to the bottom could bring the wage deflation to the whole of the EU, and deflation … Continue reading

The EU is a new form of colonialism – it’s time to break free

Spain has a future but it means breaking with the Eurozone and EU institutions, argue Hector Illueca and Adoración Guamán The economic crisis affecting our country and the austerity policies imposed by the troika (European Commission, European Central Bank and International Monetary Fund) are leading to an increasingly evident social fracture. Astonished citizens observe the … Continue reading

‘Ignorant’ Troika slammed for Portugal record as give-away privatisation criticised

As part of the the Troika ‘bail out’ deal of 2011, the Portuguese government agreed to a mass privatisation programme flogging off publicly owned energy, water and waste management, communications, insurance, transportation, ship-building and public broadcasters. Lisbon has reportedy already beaten its bailout target to raise 5.5 billion euros from privatisations by the end of 2013, but if … Continue reading

Europe’s debt – a con-trick binding the people to banks

From this year Italians have a 45 billion-euro–a-year bill to pay under the EU Fiscal Compact, a budgetary straightjacket binding Rome to 20 years of economically and socially lethal spending cuts and tax rises. It’s time to end this vicious cycle of impoverishment, designed for the sole benefit of private banks, and cancel the debt, says Loretta … Continue reading

The German elections will not change a thing in the Eurozone

Interview with Italian economist Emiliano Brancaccio ‘As far as austerity is concerned, even after the September elections Germany will not turn the page. The Germans have benefited from the crisis, and even if the Bundesbank itself has reservations about the general direction of European economic policy, Berlin has no interest in changing course.’ So says … Continue reading

European debt mutualisation – good or bad?

Spreading the debt burden and borrowing costs away from the eurozone’s worst-hit economies towards the stronger ones – sounds like a good and fair idea. Think again. Corporate Europe Observatory on why debt mutualisation is not progressive solution for the European debt crisis

Portugal government survives to continue austerity course, President decides

Portugal’s President Anibal Cavaco Silva on Sunday ruled out a snap election and said he wanted the right wing coalition government to stay in place to end a weeks-old political crisis and to ensure the destructive austerity measures and debt payments under the EU/IMF bailout stayed unchanged. The President had hoped for a ‘broader political … Continue reading

Why Greece is slashing public sector jobs

Amid much protest in the streets, the Greek government last night passed a law firing thousands of public sector workers. Twenty five thousand public servants – mainly teachers and municipal police – will be placed in a layoff scheme by the end of 2013. They have eight months to find another position or get laid … Continue reading

Spain’s bank rescue – a blank cheque?

Vincente Clavero The party held by the banks during the years of the housing boom is costing us Spanish blood, sweat and tears. And worst of all, we still do not know the final invoice that we will have to pay. So far, it is running at 850 euros per head, counting only the money … Continue reading

Who’s the Troika really bailing out?

As the Troika prepares to ok the next tranche of its ‘bailout’ to Greece, here’s a reminder about who’s actually being bailed out. Check out this recent research by Attac

If we continue with austerity we will hit the point of no return

By Giorgio Cremaschi If a patient is given an aspirin at the point that he becomes ill and a fever takes hold, the drug may work. But if you wait without giving him anything, just recommending a strict diet, and the fever grows and the disease becomes chronic and complicated, then an aspirin no longer … Continue reading

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DATA

Anti-social Europe in numbers

WAGES SLIDE

Key facts and figures on wages across the EU

Wealth Inequality in Europe

Get the key facts and figures

RADICAL VOICES

A different take on European issues

Italy’s Healthcare Crisis

Health services are ‘close to collapse’ in Rome, Turin and Naples after years of cuts and privatisation.

550 days, 29 Workers, Zero Job Losses

How a few determined Italian women stopped their factory closing and protected their livelihoods

Filthy Rich

France's Bernard Arnault of the Louis Vuitton Moet Hennessy (LVMH) empire is worth $41 billion. Check out Europe's rich list

SANTA DRAGHI’S COMING

Private banks receive half-trillion-euro gift from ECB

POPULAR FIGHTBACK

Workers and citizens stand up for themselves

FLORENCE’S BUS LUMACA

Workers are on a go-slow over privatisation

Popular resistance delivers results

Lessons from the victory against Madrid privatisation plan

FRENCH FACTORY OCCUPATION

Hundreds of workers occupied the factory of ArcelorMittal in Florange in the north of France

International Workers Day

International Workers Day 2012

DOMESTIC VIOLENCE

in Italy the home is a very dangerous place to be

LABOUR RIGHTS

Workers down tools over PM Monti's attack on labour rights

FORTRESS EUROPE

Concentration camps and a massive migrant marine cemetery

Subjects

EUROPE NEEDS A CITIZENS’ REVOLUTION

Read the statement by Lafontaine and Melenchon

The Troika in Portugal – Three Years On

A success story?

THE EURO

The Dossier

FRANCE

GERMANY

GREECE

ITALY

PORTUGAL

SPAIN