Some of the essential urgent components have now been put in place at last night’s Brussels summit, so that the Eurozone is safe for at least a few months ahead. But this was dealing with the immediate symptoms. The underlying structural flaws remain. The main one is that the Eurozone was always built on the […]
Posts under ‘Finance’
Occupy London Stock Exchange takes it to the City this Saturday
Oct 12th, 2011 by Newsdesk.As protests on Wall Street capture the imagination of the world, with people taking to the streets to hold the global financial system to task, a diverse group of Londoners is coming together to launch a peaceful occupation near the London Stock Exchange (LSX) at Paternoster Square. In little over a week, the OccupyLSX Facebook […]
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RBS bail out: Not again. This time, nationalise
Oct 7th, 2011 by Richard Murphy.The FT warns this morning that there are widespread fears the the government will have to bail out RBS, again. RBS passed the so-called European stress test in July, but that test failed to take into account the likely failure of Greek and other debt. Now that failure is likely and the EU is demanding new stress tests then RBS […]
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Osborne in Wonderland
Oct 4th, 2011 by Michael Meacher.Contrary to Osborne’s claims, the central economic problem in Britain today is not indebtedness, it is lack of demand. If Osborne’s speech yesterday was the clothing by which he presents his future policy over the next year, it would scarcely cover his nakedness. There is nothing there that deals remotely adequately with the only issue […]
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If Greece goes pear-shaped, Britain may go too
Oct 4th, 2011 by David Osler.The righteous have their work done for them by others, the old Jewish proverb insists. Now that newspapers from the Daily Mail through to the Financial Times routinely run headlines describing ‘capitalism in crisis’, what purpose can possibly be served by rising at the crack of dawn to sell Socialist Worker to the early shift? […]
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Changing the values of our economy
Oct 3rd, 2011 by Jon Lansman.In his leader’s speech last week, Ed Miliband talked about ‘changing the values of our economy.’ Some businesses have good values, he claimed, and others do not: we need to distinguish in our policy, in our regulation, between ‘producers‘ and ‘predators‘. Right-wing commentators have lambasted these comments from a predictable stand-point. David Osler also suggested […]
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Recession: the opportunity traders dream about, in their own words
Oct 2nd, 2011 by Jon Lansman.Alessio Rastani, a trader, was interviewed by the BBC about the eurozone crisis. It is rare that one of what Ed Miliband this week called “predators” is quite so honest and open about what they think and do. Asked about what would work in response to the Eurozone crisis, he said
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Opposing New Labour orthodoxy may well be a winner
Oct 2nd, 2011 by Michael Meacher.What is so striking about the reaction to Ed Miliband’s speech on the Tory/New Labour Right is their sheer disbelief that any alternative to globalised markets and the corporate ascendancy is feasible, such is their belief in the inevitability of unfettered market capitalism. The arrogance of this view takes some beating. The current neoliberal system […]
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Ed’s speech: predators, producers and the proletariat
Sep 28th, 2011 by David Osler.I cannot remember the last time I was wildly impressed by a leader’s set piece speech to a party conference. These days such perorations are designedly ephemeral affairs, calculated to grab the day’s headlines rather than define any lasting vision. The words delivered by Ed Miliband yesterday are no exception, and in this case, have […]
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The wind of change is blowing through the Labour Party
Sep 28th, 2011 by Michael Meacher.For the first time in more than 15 years the true values and principles of the Labour Party were proclaimed by a Labour Leader in his Conference speech. Gone was the attempt to present modernisation as accommodating the banks, big business and of course the Murdoch press. Gone was the effort to align Labour with […]
