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austerity

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Wealth inequality in Spain deepens as poorest get poorer and corporate profits soar, new figures show

An analysis of tax data in Spain shows how austerity and labour market counter-reforms have slashed the wage share of the country’s wealth to new lows while corporate profits have soared. The findings by economist Gabriel Flores published in online newspaper Nueva Tribuna are: Labour income has declined as a proportion of GDP from 50% … Continue reading

France and Germany drop the mask: behind ‘Europeanism’ lurks nationalism

Enrico Grazzini on President Macron’s moves to block an Italian takeover of a major French shipbuilder and how the subordination of Italian governments to Europe are reducing Italy to ‘Third World’ status European ideals mask the nationalist interests of the powerful. French President Emmanuel Macron decided to nationalize Stx, France’s largest naval shipyard, just in … Continue reading

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

Portugal’s poll-leading Socialists propose making pensioners pay for ‘anti-austerity’ budget if elected

Portugal’s socialists have come under fire for proposals that would see pensioners pay for their plans to ‘turn the page on austerity’ if they are elected in general elections in the autumn. “There is an alternative, it’s possible to turn the page on austerity and have better economic results,” Socialist leader Antonio Costa said, Reuters … Continue reading

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