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
Statement by European Left Welcoming the rejection of the bailout agreement negotiated between the European Commission, ECB and IMF “troika” and the Cypriot Government, President of the GUE/NGL European Parliamentary group Gabi Zimmer said: “This memorandum’s demands that Cyprus privatise and liberalise public and semi-state utilities were unprecedented. This would have lead to job losses … 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
Portugal’s Left must seize the moment offered by an escalating social struggle and unite around a radical platform of change, argues Left Bloc’s Jorge Costa Saturday’s massive demonstrations across Portugal have changed the immediate future of social struggle in our country. Those who want to avenge the Carnation Revolution of April 25 1974 now know, after the … Continue reading
‘In Greece, the ruling class and the government are destroying democracy,” says debt campaigner Eric Toussaint, who urges SYRIZA to stick to its radical agenda. Translation of an Interview in the Greek press. CADTM website
Italians are voting again after 14 months under “technocrat” Mario Monti. The outcome of the election in terms of delivering a stable government is uncertain. Pier Luigi Bersani’s centre-left Democrats have been leading in the polls, but billionaire media magnate Silvio Berlusconi’s right-wing alliance is expected to put in a strong showing as is newcomer … Continue reading
What is the European crisis? One answer is that it makes the privatization of public assets inevitable, delivering big profits for private individuals and organizations. As Greece, Spain and Portugal demonstrates. Europe is being sucked into a downward spiral caused by counterproductive measures, while the crisis carries on its slow, relentless work. Families, if they … Continue reading
By Eduardo Garzon On Tuesday 12 February 2013, the president of the European Central Bank (ECB), Mario Draghi, stood before Spain’s parliament to explain the actions of the ECB in the Eurozone. Leaving aside the shameful and undemocratic fact of a closed hearing (and how absurd it was, because then the speech was published on … Continue reading
By Alexis Tsipras IN THE RADICAL PRESS / MICROMEGA, IL MANIFESTO February 1953. The Federal Republic of Germany (FRG) is crushed by the weight of public debt and threatens to drag other European countries into the vortex. Concerned about their own salvation, FRG’s creditors – including Greece – take note of a phenomenon that may … Continue reading
Iceland has suffered much like other nations during the global financial crisis, but the Icelanders’ struggle to overcome the disaster has taken on historic dimensions that are relevant to all countries, says Andrew Sullivan. Read on at Counterpunch
IN THE RADICAL PRESS / IL MANIFESTO By Guido Viale Focused on the resignation of Mario Monti and Silvio Berlusconi’s return from the dead (in a metaphorical sense, of course), Italy’s national press gave little importance to a story that instead deserved so much more. For the second time within a year or so the … Continue reading
A new privatisation bonanza is underway in southern Europe, with Greece and Portugal leading the way. But recently published research shows the trend in recent years in Europe has been in the opposite direction as it becomes ever clearer that there are no benefits – except for the corporations and fat cats The European economic … Continue reading
Even in Italy we are starting to hear the voices of ‘dissident’ scholars questioning the official dogmas about the causes of the recession and ways to get out of it By Francesco Colonna Public spending? It is not the main problem. Rather it is the private debt of banks and businesses. The recipe for getting out of … Continue reading
Debt, a Trojan horse for an unprecedented social war against the peoples of Europe, is not neutral from the point of view of gender. The austerity measures imposed in its name are gender-determined, both in their characteristics and their effects, explains Christine Vanden Daelen. Read the article on the Committee for the Abolition of Third World … Continue reading