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How austerity has widened Italy’s North-South divide

Austerity policies have accentuated a North-South divide grounded in a distribution of public spending and the tax burden that is skewed against the Mezzzogiorno, argues economist Guglielmo Forges Davanzati “It is well known what kind of ideology has been disseminated in myriad ways among the masses in the North, by the propagandists of the bourgeoisie: the South … Continue reading

Portugal and the Troika three years on 

By Catarina Oliveira Three years ago the Portuguese Government called in the Troika. “Save wages and pensions,” was the pretext but that did not happen. Today the dramatic social consequences of the entry of the Troika in Portugal are easy to analyse. A look at the figures shows the spiral of impoverishment in which the country is … Continue reading

The ECB and Europe’s deflationary spiral

IN THE RADICAL PRESS / IL MANIFESTO by Thomas Fazi* The latest figures from the European Central Bank are clear, and rubbish the rhetoric of “recovery” : the Eurozone is now on the brink of deflation. As one can easily deduce, if inflation indicates an increase in the prices of goods and services, deflation indicates … Continue reading

From expansionary austerity to expansionary precariousness: the latest doctrine is another European illusion

Interview with economist Emiliano Brancaccio / Micromega The deregulatory labour reforms of Italy’s new PM Matteo Renzi will fail because it is proven that “more casualisation does not mean more jobs”, argues economist Emiliano Brancaccio. Indeed, ‘the wager on the race to the bottom could bring the wage deflation to the whole of the EU, and deflation … Continue reading

Ukraine, laboratory of future political and social crises in Europe

IN THE RADICAL PRESS / MEMOIRE DES LUTTES By Frederic Lebaron  Illustrating the difficulty, if not impossibility of making predictions in the social sciences, the current events in Ukraine give the impression that history moves a little too fast for observers. The most surprising turnarounds can quickly render obsolete peremptory analyses, and reliable information one … Continue reading

Why the May elections to the EU parliament will be a little more European

IN THE RADICAL PRESS / MEMOIRE DES LUTTES  By Bernard Cassen Since 1979, members of the European Parliament have been elected by direct universal suffrage. However, so far , the campaigns preceding the elections had focused little on European issues, if not vaguely or  with mantras such as ” social Europe tomorrow .” In reality, … Continue reading

The EU is a new form of colonialism – it’s time to break free

Spain has a future but it means breaking with the Eurozone and EU institutions, argue Hector Illueca and Adoración Guamán The economic crisis affecting our country and the austerity policies imposed by the troika (European Commission, European Central Bank and International Monetary Fund) are leading to an increasingly evident social fracture. Astonished citizens observe the … Continue reading

‘Ignorant’ Troika slammed for Portugal record as give-away privatisation criticised

As part of the the Troika ‘bail out’ deal of 2011, the Portuguese government agreed to a mass privatisation programme flogging off publicly owned energy, water and waste management, communications, insurance, transportation, ship-building and public broadcasters. Lisbon has reportedy already beaten its bailout target to raise 5.5 billion euros from privatisations by the end of 2013, but if … Continue reading

Europe’s debt – a con-trick binding the people to banks

From this year Italians have a 45 billion-euro–a-year bill to pay under the EU Fiscal Compact, a budgetary straightjacket binding Rome to 20 years of economically and socially lethal spending cuts and tax rises. It’s time to end this vicious cycle of impoverishment, designed for the sole benefit of private banks, and cancel the debt, says Loretta … Continue reading

What now for Francois Hollande?

By Jacques Sapir The French government has just been forced into two setbacks – on the retroactive tax on savings accounts and the environmental tax. These two measures have crystallized a latent discontent, and the retreat on the environmental tax is particularly symbolic. This is all happening in seriously depleted political conditions. But the decision to postpone the … Continue reading

Competitiveness, the neoliberal variant of the myth of Sisyphus

IN THE RADICAL PRESS / MEMOIRE DES LUTTES By Bernard Cassen This fall, in France and probably in other countries, the commemoration of the centenary of the birth of Albert Camus, Nobel Prize for Literature in 1957, will give rise to much editorial output. This will affirm, in particular, the continued relevance of the questioning … Continue reading

While the EU frets over Hungary Italy’s democracy burns

It is not just Hungary that the EU needs to tackle on democracy breaches.  My piece on Left Foot Forward blog

Italy’s centre left bounces back, but will it last?

Italy’s Grand Coalition is paying dividends for the centre-left Democratic Party. But will it last? Analysis of last weekend’s local elections by Tom Gill 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

Spain’s bad banking joke

Despite an infusion of tens of billions of euros funded by citizens now left with huge debts and a downsized welfare state, Spain’s nationalised banks are providing fewer loans to the credit-starved economy than private lenders. It’s all a very bad joke, says Vicente Clavero If something clearly reflects the huge bad joke being played … Continue reading

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