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Troika

This tag is associated with 24 posts

Are we Portuguese living beyond our means?

By Jose Manuel Pureza If there wasn’t the Troika there wouldn’t be money to pay salaries or pensions – this assertion is repeated ad nauseam by the heralds of foreign intervention in Portugal. And this is immediately followed by the argument that this is because we have long been living beyond our means, squandering money … Continue reading »

The People United Against the Troika

By Esther Vivas Who is the Troika? A year ago few knew the answer to this question. We knew it by reference, to its stay in Greece, and it wasn’t good. The Troika was synonymous with austerity, adjustment and cuts, hardship, hunger and unemployment. But it was not until the arrival in Spain of the … Continue reading »

The great crime scene of Greece

It wasn’t too difficult picking out the Fat Bastard in the crowd of Russian models, craven moochers and media mavens. Besides, he and I were both desperate for coffee and heading for the same empty urn. By Greg Palast Read on in the Morning Star

The Troika’s Men in Black and the Crime of Organised Money

Continuing to force states to finance themselves at high-interest rates is just a strategy to justify wage control, the privatisation of public services and, ultimately, to enslave peoples, says Juan Torres Lopez Spain has once again received a visit from the so-called Men in Black, the Troika inspectors, coming to elucidate if all is going as … Continue reading »

Portugal’s Socialist Party, between illusion and cowardice

Portugal’s Socialist Party is now 40 years old. But what happened to the ‘socialism’? asks Joao Mineiro The socialist party, founded in April 1973, has transformed itself its a strange thing called “democratic socialism”, a kind of third way, in which the project of the socialization of the economy, building the popular movement and the ambition … Continue reading »

Portugal: state agency criticizes “blind cuts”

The Council of Public Finances (CPF), a state body that assesses budgetary policies today deplored the “blind cuts” to public spending accusing the government of slashing state budgets “without any great discernment.” The scathing criticism comes as auditors for the European Commission, the European Central Bank and IMF, known as the troika arrives in Lisbon … Continue reading »

Portugal’s unions hail court rejection of pension, wage cuts

Portuguese unions welcomed the decision by the country’s Constitutional Court to strike down four out of nine austerity measures in this year’s budget. The court on Friday rejected cuts in pensioners’ and public servants’ holiday bonuses, as well as reductions to sickness leave and unemployment benefits, which formed part of a swinging austerity plan designed … Continue reading »

From Cyprus to Italy: nothing to laugh about

By Alessandro Robecchi ‘In our country, the most common form of recklessness is to laugh, considering absurd things, that then happen.’ Of all the sayings of Ennio Flaiano this is perhaps the most frightening and also, unfortunately, the truest. Every ‘absurd’ case generates palpitations – and what if it really happens? So it is better … Continue reading »

Greek public sector to protest Troika mass dismissal plan

Unions will be leading a protest in central Athens Wednesday against  demands by international creditors to dismiss 25,000 public sector workers. The massive firings are being demanded by the IMF-EU-ECB ‘Troika’ in return for the final 2.8 billion euros tranche of an international loan to Greece due in the first quarter of this year. ”The … Continue reading »

Why Greece must unilaterally suspend repayment of its debt

‘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

Decision time for Italian voters

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 »

The IMF’s mea culpa?

By Vincente Navarro At first glance it would seem that the International Monetary Fund (IMF) has issued a mea culpa for imposing austerity policies on Eurozone countries (such as Greece, Portugal, Ireland, Spain and Italy), having recognized that not only have they not stimulated economic growth, but that they have hurt the economies of these … Continue reading »

Austerity is bad for Europe’s health, say doctors

In an open letter ‘to the political leaders and health authorities in Europe,’ representatives of medics and other leading health professionals in the four of the most badly hit EU countries have demanded an urgent review of austerity policies to ‘prevent further deterioration of health and health services.’ The letter, unveiled Tuesday in Lisbon by … Continue reading »

A salute to Portugal’s striking workers

The Troika did not come to pay salaries, it came to rescue banks, every penny taken from workers will profit the financial markets. So here’s to  all the workers who have been on strike. They are the voice of the country that is not enslaved. The last few weeks have been marked by a series … Continue reading »

Europe protests against social massacre

By Giorgio Cremaschi And so between the tear gas and cherry bombs, the Greek parliament has approved a new raft of social cuts, imposed by the usurers of the European Troika in return for a bit of credit. This new installment of spending cuts imposed by all, I repeat all, governments in the European Union … Continue reading »

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