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
IN THE RADICAL PRESS / MICROMEGA Interview with Emiliano Brancaccio The mission that Emiliano Brancaccio – the brilliant Neapolitan economist – has given himself seems difficult. None other than breaking a taboo that has been created around the doctrine of free trade. His thesis is that with the crisis of capitalist globalization, new forms of … Continue reading
Next week, France’s National Assembly, the lower house of parliament, will vote to ratify the European treaty on Stability, Coordination and Governance , otherwise known by critics as the Permanent Austerity Treaty. Below in a statement published in Le Monde this week, 120 economists say why they reject it. Since 2008, the European Union (EU) has … Continue reading
IN THE RADICAL PRESS / MEMOIRE DES LUTTES By Jacques Sapir Measures taken by the European Central Bank (ECB) on 6 September favourably influenced markets. But this enthusiasm will be short lived. Far from alleviating the euro zone in the long term, they may, at best, bring it a very temporary respite. The crisis of … Continue reading
French radical left leader Jean-Luc Melenchon has called for a mutiny by Socialist Party ministers disenchanted with the policies of President Francois Hollande. Melenchon, a former Socialist minister who left the party and stood against Hollande as a candidate of the radical Left Front in the presidential elections this year, said ministers who opposed Hollande’s … Continue reading
The latest ‘crunch’ EU Summit on 28-29 June has landed citizens with a huge bill to bail out the banks yet again, argue Italy’s communists. But it will not end speculation against the Euro nor the blackmail of financial markets, forcing governments to continue pursuing failed austerity policies. Paolo Ferrero, leader of Italy’s Communist Refoundation … Continue reading
Europe is in crisis because it has been hijacked by neoliberalism and finance. In the last twenty years – with a persistent democratic deficit – the meaning of the European Union has increasingly been reduced to a narrow view of the single market and the single currency, leading to liberalisations and speculative bubbles, loss of … Continue reading
IN THE RADICAL PRESS / IL MANIFESTO By Rossana Rossanda Those who participated in the development of Another Road for Europe, proposed by Sbilanciamoci and with the collaboration of Il Manifesto, will gather in Brussels, near the European Parliament Thursday. There will be different groups, associations, movements, along with many experts, who have worked not … Continue reading
The government of Mario Monti has passed labour ‘reforms’ that will make it easier for employers to fire workers. The vote, after months of haggling in parliament, came as workers and their unions protested against the measures that seek to dump the costs of an escalating crisis of the global banking sector and the Euro … Continue reading
By Emiliano Brancaccio Syriza, the main party of the Left, lost the elections in Greece. The first real opportunity to launch a clear political message about the unsustainability of the European monetary union has thus been lost. Consequently, save surprises, the agony of the single currency is destined to endure, and with it the suffering of the peripheral … Continue reading
IN THE RADICAL PRESS / MICROMEGA By Carlo Formenti In England there’s a fierce debate about the privatisation of public spaces. Obviously that country has not forgotten the devastating effects of the 16-17th century practice of enclosures, well described in the works of Marx, Engels and Polanyi, which led to the expropriation of public property … Continue reading
Real wages fall in the Eurozone as inflation outstrips incomes. More
ECB chief Mario Draghi delivered a Euros 530 billion gift to bankers Wednesday 29 February. Added to the 470 billion euros present in December, this brings the total subsidy to the speculators who caused the biggest crash since 1929 to more than a trillion euros. After handing over Euros 490 billion to private banks for a song in December … Continue reading
Council fails to deal with sustainable growth and jobs, says European Trade Union Confederation More