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This tag is associated with 26 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 »

Billions for shareholders, crumbs for workers

Dividend payouts in France increased seven fold over the past two decades, new figures show, underlining widening inequality of wealth in Europe’s second largest economy. Over the same period workers got very little of this wealth that they had created, with wages rising by around a third. An astonishing 550 billion euros was handed out to … Continue reading »

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 »

The class nature of inflation

Prices rises affect different income groups differently new figures for Italy show. One more argument for wage hikes for middle and low incomes New figures show how inflation has hit the worst-off hardest in Italy. Official data released for the seven years between 2005 and 2012 showed that those with lowest average spending saw it … 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 »

Everything you wanted to know…about Austerity in the EU

Poverty, unemployment, wages, the economy, public services, tax dodging, wealth and gender inequality – check out the latest facts and figures in the Europe of the bankers and austerity. http://wp.me/P1bMfw-oA

An age old problem

Forget ageing – capital’s class war against labour is behind the crisis in pensions and welfare worldwide, says Vincent Navarro Thomas Malthus was an economist who believed that the resources of the planet were limited, fixed and constant. Hence he believed that the growth of the population would reach a level that there would not be … Continue reading »

How Austerity is Hurting Women in Europe – In Numbers

Women are disproportionally affected by austerity cuts because they are society’s main carers, and the main users of public services and welfare recipients, where there have been heavy reductions in budgets; they predominate in low paid, insecure employment, which is expanding, facilitated by labour counter-reforms; because they are heavily employed in the public sector where … Continue reading »

Inequality back on the agenda in Germany

A recent opinion poll  revealed that most Germans think top managers in the country’s big companies are paid too much. Three out of four Germans say pay packets were too large… Read on at Left Foot Forward 

Austerity swells Spain’s precariat by two million

Spain’s precariat has swollen to more than 20.6 million – or  43.74% of the population, thanks to rising unemployment, wage and welfare cuts, according to the tax officials’ union. Since 2007, austerity and neo-liberal reforms have meant two million more Spaniards live in households with incomes of less than 12,000 euros a year, finds a … Continue reading »

An Answer to Italy’s Forgotten Southern Question

IN THE RADICAL PRESS / IL MANIFESTO By Tonino Perna In the 1960s and 1970s reports by the Association for the Development of Industry in the South (Svimez) on the health of the Mezzogiorno were followed with great attention and aroused a great political debate. Pasquale Saraceno, passionate president of Svimez, was exalted or depressed … Continue reading »

Europe needs wage cuts, but…

The last time I looked, Portuguese wages were the lowest in Western Europe. So says the official Eurostat data: But the Bank of Portugal doesn’t reckon they are low enough Why? Apparently ‘unit labour costs’ – the ratio of the cost of workers (including social security costs) per unit of output – have increased over … Continue reading »

Portugal strike over wage, holiday cuts paralyses trains

Portugal: a strike by train drivers and ticket guards paralyzed all passenger and freight trains Thursday. The strike, called over cuts to wages, rest days and holidays to be introduced under the right-wing government’s austerity plan, will also cause some disruption to services on Friday. According to unions, further strikes are planned in June in the Lisbon and … Continue reading »

French Fat Cat Feeding Frenzy Continues

Gruel for the masses, cream for the lucky few. A familiar tale. Inequality of wealth, and the greed and excess of France’s 1% was a significant theme in the French Presidential election. The highest paid executives of the top 40 listed companies in France had been provided with a slap up 39 million-euro meal for … Continue reading »

What rise will Germany’s workers get? Not 8.7%. That’s for CEOs

Friday is supposed to be crunch day in talks between unions and employers over public sector pay. Verdi, one of the largest trade unions in Germany, earlier this month rejected an offer of a 3.3% pay rise staggered over two years for around two million public sector workers. Its claim was for a 6.5% pay … Continue reading »

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WAGES SLIDE

Key facts and figures on wages across the EU

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