Revolting Europe
debt
Poster turned problem child Portugal doesn’t need more austerity pain
Former poster child Portugal is coming under renewed pressure from the IMF to make deep spending cuts amid the highest overall debt levels in the EU, concerns about job creation and rising ‘bad’ non-performing loans. Barely a year after a much trumpeted exit from the Troika’s punishing three year adjustment program. But Portuguese economist Ricardo Paes … Continue reading
The two scenarios now facing Greece
By Sergio Cesaratto The victory of ‘no’ opens two scenarios. The most likely is the further effort by the Syriza-led government to reach a new agreement with the Troika, but it is not clear why it should be given something that had not been given before. The financial upheaval of recent days may be such as … Continue reading
Greek referendum: A view from Italy’s ‘populist’ Five Star Movement
Italy’s Five Star Movement, which has campaigned for a referendum on the Euro, is in Athens today to support the Syriza government. Interview with Italian MP Alessandro Di Battista of the Five Star movement, who is participating in the delegation led by party leader Beppe Grillo. By Giacomo Russo Spena Top Quotes: Today’s referendum: “It is … Continue reading
Has Greece’s outspoken FM Varoufakis been sidelined?
By Dimitri Deliolanes Greece’s prime minister Alexis Tsipras has moved to unblock the negotiations. It may be the last move in the direction of an “honourable compromise”. If the creditors do not seize the opportunity, then Athens will be forced by the facts to carefully consider the possibility of making dramatic choices. A position repeated … Continue reading
I am ashamed to be European
By Giorgio Cremaschi Double standards have always been a hallmark of the European ruling classes. At least since the governments and liberal revolutions of the late 1700s proclaimed human rights, except for slaves overseas and most of the workers. Europe’s double standards collapsed exactly one hundred years ago with the first world war. After twenty … Continue reading
The coherence of Tsipras and lessons for Italy
By Giorgio Cremaschi If the new Greek government begins now to live up to his election programme by establishing the minimum wage to 750 euro per month Germany’s Merkel-SPD government will close the door to any negotiations on the debt. In fact, with the “reforms” that have made the German model to the whole continent, … Continue reading
Greece’s new government, Tsipras and the issue of sovereignty
Why did Syriza choose the Independent Greeks as coalition partner? And how will the other Eurozone countries react to the new Government in Athens? Jacques Sapir explains Syriza has won and secured 149 seats in the Greek parliament. Alexis Tsipras, its charismatic leader, is the big winner of the elections this Sunday, January 25th. Many people … Continue reading
3 Greek myths
By Vincente Navarro Dominant economic thinking, that is, neoliberalism, constantly uses lines of argument to create moods that make its proposals – always involving sacrifices by the masses – more tolerable and acceptable. These arguments are repeated in the mass media to the point they become the conventional wisdom. That is, the “platitudes” promoted by the … Continue reading
Yanis Varoufakis on the coming Greek elections and myths surrounding the country’s economic ‘recovery’
With a snap general election due January 25, a Greek economist close to SYRIZA dismantles some myths surrounding the Greek economy and believes victory for the left-wing opposition is increasingly likely After the announcement that on 25 January, Greece will return to the polls (due to the failed the third and decisive vote for the … Continue reading
EU, the Grand Coalition and austerity. Where does Italy’s Renzi stand?
The choice of Juncker as the next president of the European Commission is in total continuity with the harmful policies of rigor imposed in recent years by the Troika. The Italian prime minister on the one hand seems to beat his fists against the diktats of Berlin, on the other hand make us believe – … Continue reading
French left goes Greek
France’s left is in a sorry state. It took a bashing in local elections in March and then European elections in May. The ruling socialists plunged to an all time low of less than 14%. The radical Front de Gauche, comprising the communists and other leftists like Jean Luc Melenchon, polled just 6.3%, down from … Continue reading
Too much spending or welfare for the rich? What an audit of France’s debt found
France’s debt results largely from tax giveaways to the rich and creditors, study finds Debates on France’s public debt tend to blame excessive growth of government spending. But an examination of the facts shows that public debt is largely a result of economic policies favourable to creditors and the rich. A study was carried out by … Continue reading
Italy’s fresh privatisation drive is economic nonsense
IN THE RADICAL PRESS / IL MANIFESTO Italian ministers have given the OK to afresh wave of privatisations, but to what purpose asks Marco Bersani Italy’s cabinet yesterday gave the go ahead to place on the Stock Exchange a 40% stake in the Italian Post Office and 49% of air traffic control company ENAV, aiming … Continue reading
Peace Not War on Italy’s Liberation Day
Thousands amassed on Friday in the northern Italian town of Verona for a peace rally against tens of euro-billions in arms spending by Italy’s cash-strapped government. The Italian peace movement will come together to call on the centre-left-right coalition administration to end its 14 billion euros funding of 90 F35 fighter-bombers. The call from peace campaigners came as new PM Matteo Renzi … Continue reading
3 reasons why the Socialists are right to revolt against PM Valls’ austerity plan
France’s ruling socialist party is in revolt. A very vocal minority don’t like the austerity plan of new PM Manuel Valls. And they are threatening to vote it down. Here’s 3 reasons why they are right France’s new prime minister – now three weeks into his job – last week unveiled a swinging austerity plan. … Continue reading
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