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This category contains 239 posts

Lies, damn lies and French bankers…

French bankers were second only to their German counterparts in the Eurozone as beneficiaries of public handouts to save them in the wake of the banking crisis, a crisis they caused. Now, 10 years on from receiving the mega government cheque, they are pedalling the myth the whole saga was costless; that the French people … Continue reading

France’s political earthquake hits communists

The 2017 elections were a political earthquake in France and the shock waves are now hitting the French communist party. It’s 18 months since France was rocked by the crushing victory of pro-European Emmanuel Macron and his new political movement in the Presidential and legislative elections last year. That victory delivered a body blow to … Continue reading

The relevance of the October Revolution to Europe today

The October Revolution is the most important revolution of the modern era. And for now, at least, it should gives us cause for optimism, says Giorgio Cremaschi. In the Bolshevik Revolution the social question and the rejection of war took power in Russia, beginning a momentous journey to liberate humanity. Despite the mistakes and horrors … Continue reading

Costas Lapavitsas: “Syriza has failed. We must fight the EU and the power of Germany”

For the Greek economist, the single currency has simply allowed Berlin to dominate the European market and to become a global exporter country: “The Euro was a disaster”. And on Greece he adds: “Syriza shows us what we should not do and how we should not organize ourselves. Those who want to change things from … Continue reading

Socializing the losses, privatizing the profits: The crisis and rescue of the Veneto banks

By Enrico Grazzini Here’s some lessons from the banking crisis of Popolare di Vicenza and Veneto Banca, and the failures of the Italian government and European Banking Union interventions. 1) The Italian Government, the Bank of Italy and the Veneto Region (led by the Northern League) have shown themselves astonishingly incapable, first in monitoring and … Continue reading

Behind the Macron reforms: the Euro!

By Jacques Sapir While the first round of parliamentary elections is now fast approaching, while the polls promise a large majority to the President and his party La République en Marche, various leaks concerning the labour reforms that will be decided this summer are beginning to raise a legitimate emotions [1]. Indeed, in addition to … Continue reading

Brexit is an opportunity for the Europe of Rights

Alessandro Somma | Micromega A united Europe, which many had equated to a dream, has long turned into a nightmare. We are now united only in the material and cultural misery caused by austerity, unable to rebel because attracted by the sirens of an increasingly violent nationalism, which only divides us. In all this, for … Continue reading

Podemos, Greece and the hot Spanish autumn

How much influence does the Greek question have on Podemos and the hopes for change of the Spanish Left? The chemistry between Iglesias and Tsipras has been a constant in recent months, but will this close relationship now weaken the Iberian upstart party in the next two important elections this autumn? While it is down … Continue reading

Europe’s neo-liberal road began at Mont Pélerin

By Luciano Gallino When I open the windows in the morning these days, my gaze inevitably falls on Mont Pélerin, beyond the lake. It is a hill a few kilometres from Switzerland’s Montreux, known since the twenties for good hotels and a good climate. It is also the birthplace of  the Mont Pélerin Society in … Continue reading

Greek referendum: A view from Italy’s ‘populist’ Five Star Movement 

Italy’s Five Star Movement, which has campaigned for a referendum on the Euro, is in Athens today to support the Syriza government. Interview with Italian MP Alessandro Di Battista of the Five Star movement, who is participating in the delegation led by party leader Beppe Grillo. By Giacomo Russo Spena Top Quotes: Today’s referendum: “It is … Continue reading

Euro, Europe and peace

One of the most well used arguments to criticize anything that directly or indirectly relates to a dissolution of the Euro (be it Grexit or other assumptions) is that this would significantly weaken the European Union or cause its dissolution. In saying this, those who defend this argument move seamlessly from an analytical finding (a … Continue reading

Greece: the euro misfit that Germany once embraced with open arms

Greece joined late and never conformed to Germany’s idea of the Euro, but it nonetheless served a very valuable purpose, explains Spanish economist Enrique Viaña Remis, who anticipates Spexit will follow Grexit Today, we talk insistently-indeed, all too insistently of Greece leaving the euro. The debate is raised in Manichean terms (at this time administrators of the … Continue reading

The costs and benefits of Grexit

Emiliano Brancaccio and Gennaro Zezza You cannot say that between 2010 and 2014, Greece has not “done their homework” assigned by the Troika. The tax burden has grown by five percentage points of GDP, public spending has fallen by a quarter and wages have fallen by twenty percentage points. The European Commission has always maintained … Continue reading

The Eurogroup-Greece Agreement

By Jacques Sapir The agreement reached Friday, February 20th between Greece and the Eurogroup has led to conflicting commentary. It is necessary, in order to understand this agreement, and to analyze it, to put it into context, both in the short and in the long term. This agreement was intended to prevent an immediate crisis, … Continue reading

I am ashamed to be European

By Giorgio Cremaschi Double standards have always been a hallmark of the European ruling classes. At least since the governments and liberal revolutions of the late 1700s proclaimed human rights, except for slaves overseas and most of the workers. Europe’s double standards collapsed exactly one hundred years ago with the first world war. After twenty … Continue reading

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