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This tag is associated with 7 posts

Alitalia, Indesit, Telecom Italia and the banks: the great Italian sell-off

The sale of Indesit to Whirlpool is just the latest case: what is happening amid the general silence is the end of industrial Italy. The imminent danger is to yield to foreign capital not only industries but also the big banks, and to completely sell off Italian savings. Due to the sharp decline of industry and … 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

Italy’s new privatisation drive is Thatcherite madness

 By Giorgio Cremaschi This week Italy’s government launched its privatisation plan, ostensibly to boost the economy. This is a thoroughly reactionary operation. In 2008, with the start of the Great Depression, the ultra-liberal economic model launched in the early ’80s by Reagan and Thatcher failed. Since then, countries have broadened the scope of their intervention … Continue reading

Italian lessons on privatisation

Privatisation has benefitted the very few, leading to massive job losses, delivering a bad deal for consumers and sowing the seeds of today’s financial and economic crisis, and yet the process goes on, says Marco Bersani. In an extract from his new book, Bersani surveys the case of Italy, home of one the world’s largest public … Continue reading

The problem with France’s rediscovered dirigisme

The problem with the French government’s nationalization threat is only the timidity of this rediscovered dirigisme The Socialist government is threatening to nationalise a €400m (£323m) steel plant in eastern France, unless the Indian-born billionaire Lakshmi Mittal agrees to sell it to a private buyer. Mittal’s company, ArcelorMittal, the world’s biggest steel-maker, wants to close … Continue reading

Creating a sustainable future for Spain’s mining communities

The miners have taken to the streets because the Popular Party government is not fulfilling its commitments to the mining sector under a five-year Plan for Coal agreement signed between government and unions last year. Aid to mining companies in this year’s budget was cut to 111 million euros from 301 million euros in 2011. These … Continue reading

Communists on France losing its AAA & Sarkozy’s ‘demolition’ job

France’s credit downgrade is timely, coming just five days before the anti-social summit [tripartite government, employer union meeting where Sarkozy expected to propose new attacks on workers’ rights] The loss of the AAA rating by Standard & Poor’s will be used by Nicolas Sarkozy to justify the accelerated adoption of the golden (balanced budget) rule … Continue reading

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