Posts Tagged ‘Euro’

Europe’s debt – a con-trick binding the people to banks

by Tom Gill.

This article was translated by Tom Gill based on the original in Italian at  Il Fatto Quotidiano  by Loretta Napoleoni. 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 […]

Time to break up the Euro

by Oskar Lafontaine.

The European policy of Chancellor Angela Merkel is coming increasingly under pressure. Not only European Commission President Manuel Barroso, but also Enrico Letta, recently asked by Italian President Giorgio Napolitano to form the new governnnent, have criticized her austerity policies, which have been dominant in Europe and are leading to disaster. Europe’s leaders have long been at […]

French radicals to start referendum campaign on ‘Permanent Austerity Treaty’

by Tom Gill.

The radical Front de Gauche (Left Front) is to launch a campaign for a referendum in France against the Fiscal Compact, known by critics as the Permanent Austerity Treaty. Agreed on 2 March 2012 by 25 EU countries, minus Britain and the Czech Republic, the EU Fiscal Compact – a German invention officially known as Treaty […]

Hollande to present austerity treaty gift wrapped to French Parliament

by Tom Gill.

(In the Radical Press – Humanité) It’s done. François Hollande announced Friday afternoon that he would submit the fiscal pact (Treaty on the stability, coordination and governance  in the Economic and Monetary Union – TSCG) to be ratified by the French Parliament. During his Presidential campaign he had promised to renegotiate it and would not […]

Another road for Europe: an appeal

by Newsdesk.

The following appeal has been launched by a variety of politicians, activists and academics across Europe. Europe is in crisis because it has been hijacked by neoliberalism and finance. In the last twenty years – with a persistent democratic deficit – the meaning of the European Union has increasingly been reduced to a narrow view […]

Cancel the Greek debt

by Michael Burke.

The Greek general election on June 17 presents a clear political choice on whether to continue with the ‘austerity’ measures imposed by the Troika of the ECB, EU and IMF which have caused a disastrous economic slump. Greek GDP fell by over 13 per cent between 2007 and 2011 and contracted sharply again in the […]

The stark choice facing the Greek people

by Ben Folley.

It is difficult to imagine the impact of austerity in Greecefrom here in the UK. Aside from the stark imagery of pensioners eating from bins, students forced into prostitution and children being abandoned in increasing numbers, the statistics make for uncomfortable reading. In February The Guardian reported that planned 15% wage cuts – on top of 30% already […]

Spain shows how lethally fragile the euro really is

by Michael Meacher.

If the rallying call of Mariano Rajoy, the Spanish Prime Minister, is right – that “the credibility of the euro won” – then let’s hope we never have to experience a loss. It’s more a case of the first rule of politics – when you capitulate, declare victory. The Spanish deal cooked up over the […]

An open letter to the leaders of Europe: abandon the Euro’s ‘gold fetters’

by Ann Pettifor.

On May 15th, in what can only be described as an act of coercion, an impoverished and effectively insolvent Greece acceded to the handover of a bond payment – €436 million – to private financial ‘vulture funds’. The Greeks had little choice. However, in acquiescing to this handover – facilitated by its paymasters,‘the Troika’ – […]

IMF’s Lagarde has a …….nerve

by Michael Meacher.

One thing the Right is really good at is turning a blind eye as diaster steadily builds up and then blaming everyone else when it happens. Osborne is a past master at this, ignoring the riskiness of deregulated banks and then trying to make the victims pay (‘We’re all in it together’). But Lagarde at […]

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