This tag is associated with 45 posts

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

A Gathering Storm: Eurozone in 2014

Is Europe’s single currency bloc stabilising? Behind the current picture of calm storm clouds are gathering, says French economist Jacques Sapir, in this recent interview with Greek newspaper Kefalaio (Capital) Kefalaio: What is your reaction to the image of stability in the Eurozone promoted by European leaders? What are the possible ruptures (eg in the case … 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

Uniting the anti-Euro left and right

Interview with Jacques Sapir You were among the first European economists to highlight the damage caused by the euro and called for it to be disbanded. In one of your latest analyses, you wrote that it is the Euro’s demise is now inevitable. In your view, how long will it be before that happens and … Continue reading

Questioning the future of the euro is no longer un-PC

IN THE RADICAL PRESS / MEMOIRE DES LUTTES By Frédéric Lebaron A debate is raging among economists and French leftist intellectuals on the future of the eurozone and the relevance of a national strategy to exit from the single currency. The conversion of leading French economists to this strategy (of which Frédéric Lordon is the … Continue reading

Democracy or the Euro?

According to the German Constitutional Court it is not acceptable that “the most important decisions at European level be negotiated in anonymous corridors of the Brussels bureaucracy.” In Italy too, we should ask ourselves whether it is right that economic policy is torn from popular sovereignty and dictated by foreign countries and international financial oligarchies. … Continue reading

Why Hollande’s plan for more Europe is bad

French President Francois Hollande wants us to believe that further European integration would fix the crisis. This is a bad strategy, for there’s no social dimension to Europe, just neo-liberalism. Eric and Guillaume Etievant Coquerel of the Left Party say France must stand up to Germany to change the future direction of the Old Continent. Francois … Continue reading

Eurocrisis: why northern Europe should be celebrating

According to legend, the bailouts of countries of Europe’s south have been costly for Germany and other northern countries such as Finland, Austria and Holland. Hence their obsession with policies of ‘rigor’ and deficit reduction. The truth is that they have earned tens of billions of euro from the south. Maurizio Ricci shows how. Someone – possibly Angela Merkel … Continue reading

Eurozone: A step closer to the precipice

Why Merkel has no choice to pursue austerity in Europe, despite its catastrophic social and economic consequences. And to save Europe, the Eurozone must be ditched. By Jacques Sapir  Thanks to the combined effect of austerity policies, the Eurozone is sinking into crisis. Yet never have debates on economic policy been so intense. Political leaders, both Germany … Continue reading

The Cyprus crisis and the ECB’s Darwinian turn

The Eurozone’s central bank is taking advantage of the Cyprus crisis to pursue European banking union through an open contest between the strongest and weakest countries, argues Emiliano Brancaccio We still do not know the outcome of the banking crisis in Cyprus but we can already draw some lessons from it for the future. Many … Continue reading

Cyprus: European oligarchs must pay

Governments can and should impose a tax on the wealth of the super-rich to help resolve Europe’s banking crisis, says Attac Cyprus is experiencing a banking crisis of Irish or Icelandic proportions: a bankrupt banking system, which the European Union is demanding taxpayers bail out. Ireland and Iceland took radically different decisions, one favourable to … Continue reading

Who are Europe’s real clowns?

Peer Steinbrück, the SPD opposition candidate for Chancellor in this autumn’s elections in Germany, caused a diplomatic row in the wake of the Italian elections by describing ‘populists’ Silvio Berlusconi and Beppe Grillo as clowns. But neither Peer Steinbrück nor Angela Merkel have understood a thing about Europe’s crisis, argues Jakob Augstein. A Swiss vote against greed and … Continue reading

How Beppe Grillo and Italy’s Five Star Movement stole the election

Beppe Grillo’s Five Star Movement is now Italy’s largest party, only overtaken in terms of seats in parliament by Pier Luigi Bersani and Silvio Berlusconi by the alliances they have built with smaller parties – SEL and the Northern League respectively. So how did Grillo, a former comedian and Italy’s number 1 blogger, come from … Continue reading

The Euro is a dead man walking

Italians have decided – the Euro is now a zombie. It’s time to Exit, from the left says economist Emiliano Brancaccio ‘Signor Euro repeatedly risked a heart attack. Dr. Draghi then decided to put him in an induced coma. With respect to the cure, though, he hesitated. At regular intervals, a Hamlet-like dilemma presented itself: … Continue reading

Currency wars, the Euro and Frexit

News that the G20 will ‘avoid a currency war’ is supposed to be a piece of good news. But for millions of ordinary people in France and the weaker, Mediterranean Eurozone states who are really struggling economically there’s no relief in site from the rising exchange rate of the Euro against its major trading partners, … Continue reading

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