Posts under ‘Economy’

The money exists for investment in Greece

by Michael Burke.

The fraught negotiations between the new Greek government and representatives of the EU institutions are likely to be prolonged. They have centred to date on Syriza’s efforts to find room to alleviate some of the worst effects of austerity and address what is called the ‘humanitarian crisis’. This is entirely justifiable given the depth of […]

Non-doms: this extra scam for the ultra-rich must be abolished

by Michael Meacher.

One of the scams highlighted by the HSBC Swiss bank scandal, and then quickly ignored, is the continuing absurd anachronism of the non-dom rules. Stuart Gulliver, the shamed CEO of HSBC, though living in London in order to run the second largest bank in Europe and routing his bonus through a Panamanian company to escape […]

Members of Parliament, second jobs and the culture of entitlement

by Jon Trickett.

If ever for one second a doubt appears in your mind that the Tories aren’t the party of wealth and privilege, all you need to do is read the Tory speeches in the second jobs debate on Wednesday 25 February. In the meantime here is my speech from the debate: Jon Trickett (Hemsworth) (Lab): This has been […]

Osborne thinks economy is a trump card, but it’s a joker not an ace

by Michael Meacher.

Osborne boasts interminably about success with his ‘long term economic plan’, but even the slightest scrutiny of the evidence shows that his claims don’t remotely stand up. Labour should be eating him alive. 1. After the 6-7% collapse of output brought about by the financial crisis, output per head has grown by less than 2% […]

Five questions from Costas Lapavitsas to Syriza’s leadership on their Euroland deal

by Jon Lansman.

This is a translation of a blog by Costas Lapavitsas who was Professor of Economics at London’s SOAS until he was elected as a Syriza MP this year. He is known as a Eurosceptic critic of the more Europhile stance of the Syriza leadership, though his criticisms are more reserved than those of Syriza’s 92-old […]

Italy: whatever happened to PM Renzi’s anti-austerity commmitment?

by Tom Gill.

One year after PM Renzi came to power and three governments since Berlusconi, Italy is still depressed, thanks to unending austerity programmes, writes Leopoldo Nascia (translated from the original Italian by Tom Gill) Seven years of crisis and three and half years of the political shocks they have brought, in succession, the governments Mario Monti, Enrico […]

The costs and benefits of Grexit

by Tom Gill.

by Emiliano Brancaccio and Gennaro Zezza – translated from Italian by Tom Gill You cannot say that between 2010 and 2014, Greece has not “done their homework” assigned by the Troika. The tax burden has grown by five percentage points of GDP, public spending has fallen by a quarter and wages have fallen by twenty […]

This election should be about ridding Britain of the stench of corruption

by Michael Meacher.

It is incredible how the reports of corruption in Britain are now going from bad to worse almost every single day. HSBC’s original lame excuse for the massive tax evasion engineered by its Swiss bank in Geneva was that it was previously run on a ‘federated’ basis so that central controls were much looser. Yet […]

How the austerity con works

by Michael Burke.

‘The Austerity Con’ is the title of a recent article in the London Review of Books. It is written by a leading Keynesian economist Professor Simon-Wren Lewis, who is also a fellow of Merton College, Oxford. It deserves to be widely read because it contains two important arguments against austerity. The first argument nails the […]

Explaining the Euroland-Greece agreement

by Tom Gill.

by Jacques Sapir (translated from the French by Tom Gill) The agreement reached on Friday 20 February between Greece and the Eurogroup has led to conflicting commentary. It is necessary, in order to understand this agreement, and to analyze it, to put it into context, both in the short and in the long term. This agreement […]

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