Tag Archives: financial crisis

Facing the left-wing challenge in the European Union

by Eric Toussaint

It is shocking to see that the right-wing government in power in Italy since Summer 2018 refuses to reduce the budgetary deficit while so-called left-wing governments bow to the constraints of austerity. It is now, when the peoples of the Eurozone are ever more disgusted by the policies imposed by European leaders and big capital, that the radical left should start fighting the structures of the European Union and the Eurozone. The time is ripe to expose their legitimacy crisis and use it as a means of tackling the challenges populations are faced with. The left needs to adopt an internationalist, anticapitalist break strategy and push ahead with an eco-socialist federation of the peoples of Europe. A large part of the population aspires to radical change; if the left shows that it has strong proposals and is ready to commit fully to bringing them about, it could win popular support. The left must gear up to taking a profoundly radical course of action that is internationalist, feminist, environmentalist, antiracist, socialist, communist and not tethered by any dogma. [1]

The Challenges for the Left in Europe and the Eurozone

by Eric Toussaint

As from May 2010 the question of the debt became a central concern for Greece and for the rest of the Eurozone [1]. The first programme imposed by the Troika provoked a brutal increase in Greek public debt. This was also the case in various forms in Ireland (2010), Portugal (2011), Spain (2012) and Cyprus (2013).

Bank of America Sees a Replay of 1998 in Summer Pain Trades

Bank of America Corp. sees a foreboding parallel in the current direction of markets: 1998.

Emerging markets are crumbling under a strong dollar while tech stocks advance amid optimism over the U.S. growth trajectory — two ingredients that might be the makings of an annus horribilis like the one seen two decades ago, according to the bank.

Stock market crash: 1987, 2007 or 1937?

by Michael Roberts

Yesterday, the US stock market fell by the most in one day since mid-2007, just before the credit crunch, the banking crash and the start of the Great Recession.

India | India’s Demonetization “Shock Therapy”: State Sponsored Financial Repression

By Sridhar Chakravarthi Raman

If You Can’t Dazzle Them With Brilliance, Baffle Them With Bull.”– WC Fields

You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before.
-Rahm Emanuel,Former White House Chief of Staff in the Obama administration.