Revolting Europe
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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
Greece, Europe and sovereignty
What image will remain in the European Union in the wake of the Greek crisis? Indeed, whatever the outcome of this crisis, whether it results in a Greek default and a possible exit from the euro zone, or a capitulation of the Greek government, the consequences of this crisis on the EU and its image … Continue reading
The significance of Tsipras’ visit to Moscow
By Jacques Sapir Alexis Tsipras, the new Prime Minister of Greece will be in Moscow April 8. The following day, Greece must make a payment to the International Monetary Fund. The statements by Greece’s Minister of Finance does are unambiguous: Greece will honour its debts. [1] But on April 14, the Greek government must simultaneously … Continue reading
What’s not been said about the new BRICS bank
Vicenç Navarro* The history of disasters (and there is no other way to define the consequences of their policies) created by the International Monetary Fund (IMF) is long. This institution, which in its current configuration aims to defend the interests of finance capital (ie the banks) at the expense of the interests of the countries supposedly … Continue reading
The IMF and bosses’ war against Spanish youth
By Jose Antonio Arias Again, for the umpteenth time the International Monetary Fund (IMF) has attacked Spanish youth and their wages, while the Spanish business lobby shouts “we told you so”. This is the scenario: over 50% youth unemployment, the minimum wage at €645.30 (virtually frozen since 2011) and almost non-existent labour rights. Faced with … 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 Ukrainian crisis has accelerated the reordering of the world
IN THE RADICAL PRESS / MEMOIRE DES LUTTES by Pierre Charasse* The Ukrainian crisis has highlighted the magnitude of the manipulation of Western opinion by the mass media, television channels like CNN, Foxnews, Euronews and many others, as well as print, fed by the north American and European news agencies. The degree to which the … 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
‘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
Troika destroys 500,000 jobs in Portugal
The austerity measures demanded by the Troika have destroyed half a million jobs in Portugal. This year, Portugal will have fewer people employed than in 1960. And in 2014 the situation is expected to worsen further. According to Diário de Notícias newspaper, reporting on figures published in the Summer 2013 Economic Bulletin of the Bank of Portugal, ‘already this … Continue reading
Is the Eurozone establishment changing?
By Vincent Navarro There is a growing awareness among some international institutions such as the International Monetary Fund (IMF) that policies of austerity and public spending cuts they have been promoting and imposing have failed to achieve their objectives. A recent IMF report even acknowledges that, in the case of Greece, these policies have been more damaging … Continue reading
The People United Against the Troika
By Esther Vivas Who is the Troika? A year ago few knew the answer to this question. We knew it by reference, to its stay in Greece, and it wasn’t good. The Troika was synonymous with austerity, adjustment and cuts, hardship, hunger and unemployment. But it was not until the arrival in Spain of the … 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
Portugal: state agency criticizes “blind cuts”
The Council of Public Finances (CPF), a state body that assesses budgetary policies today deplored the “blind cuts” to public spending accusing the government of slashing state budgets “without any great discernment.” The scathing criticism comes as auditors for the European Commission, the European Central Bank and IMF, known as the troika arrives in Lisbon … 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
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