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
By Eduardo Garzon On Tuesday 12 February 2013, the president of the European Central Bank (ECB), Mario Draghi, stood before Spain’s parliament to explain the actions of the ECB in the Eurozone. Leaving aside the shameful and undemocratic fact of a closed hearing (and how absurd it was, because then the speech was published on … Continue reading
How French Socialist President Hollande is wading into choppy waters over Europe. Left Foot Forward
Another huge bailout of Spanish banks is looming. Pundits and Brussels officials are reported to believe that, following a deep write-down of dodgy housing loans, a tonne of cash from the eurozone’s rescue fund – the €500bn European Stability Mechanism – is required to shore up the country’s financial sector. Why? A fresh panic is … Continue reading
Italy spends about Euros 23 billion annually on the military, making it among the top ten worldwide in terms of defence expenditure per GDP. But in the packet of swinging spending cuts pushed through by the Government of Mario Monti last month that budget was left untouched. The country’s imperialist adventures such as the Nato … Continue reading