Posts Tagged ‘Spain’

Greek exit won’t save euro: fundamental restructuring needed

by Michael Meacher.

With the smart money on an early Greek exit, the two main questions to arise are: what will happen to Greece, and what future then for the Eurozone? If Greece leaves, the exchange rate will drop sharply from 340 drachmae to €1 at entry to the euro to perhaps 1,000 drachmae, a loss of value […]

Standing up for Ireland

by Gerry Adams.

If you want to know who is taking the real decisions about the economy of the Irish state then you need look no further than EU Commissioner Olli Rehn. Since Fianna Fáil crashed the economy and Fine Gael and Labour won last years election they have repeatedly asserted that there can be no deviation from […]

The odds for the euro are shortening in 2012

by Michael Meacher.

The take-up by the eurozone banks of €489bn from the European Central Bank (ECB) ought to be good news as a sign that the ECB is now at last, having refused to do so in 2011, ensuring eurozone banks can fund themselves adequately next year. The ECB believes they will need €720bn of loans in […]

Not much grand about this EU bargain

by Michael Meacher.

The praeternatural calm that has descended on the financial markets after Merkel-Sarkozy declared a ‘comprehensive’ bargain on Monday is unlikely to survive the Friday summit as the details sink in about what is involved, and even more about what is left out. Meanwhile back in Britain there is sound and fury from the Tory Right […]

The temporary popularity of Euroausterity

by David Osler.

Just months ago, Spain was convulsed by the M-15 mass movement, which mobilised hundreds of thousands of protestors against the appalling privations facing the nation’s youth. Last weekend, it returned a centre-right government. That’s not the whole story. The hard left alliance Izquierda Unida doubled its vote to poll 7%, although that is still well […]

PASOK, PSOE: the suicide of social democracy

by David Osler.

After three decades during which the centre left first adapted to neoliberalism, and then adopted it wholesale, it is sometimes difficult to establish what exactly social democracy stands for these days. All of the major European parties that occupy this political space initially came into being to articulate working class demands, and were nominally committed […]

The relation of profits and ‘austerity’

by Michael Burke.

In what may be an important development the Financial Times reports that, in return for accepting much larger ‘haircuts’ (imposed losses on the value of the bonds they own) bondholders are demanding that there must be a growth strategy for Greece. In a piece headlined ‘Bondholders Demand Greek Growth Plan’ the paper quotes the Managing Director and chief […]

We face a dire threat. And it’s time to ditch the euro

by Jon Lansman.

Seumas Milne summarises the dire threat to our economy in today’s Guardian: forcing austerity down the throats of fragile economies, in Britain and across Europe, risks years of stagnation and slump: More than £30bn was wiped off City shares on Tuesday, as investors panicked at the prospect of sovereign debt defaults, bank crashes and a double-dip […]

© 2024 Left Futures | Powered by WordPress | theme originated from PrimePress by Ravi Varma