TheRealNews on Feb 16, 2017
There’s a real need for international debtor rights, says economist Michael Hudson.
There can be little doubt that we are living through an extraordinary, and in many ways unprecedented era. Times of uncertainty and tremendous upheaval for sure, but also positive times, in which large numbers of people are becoming energised and politically engaged. Political parties in many countries are fracturing, as internal differences surface and the old dualities of left and right fail to respond to the needs and demands of the people.
RT America on Jul 23, 2016
In this week’s episode of On Contact, Chris Hedges explores capitalism in crisis with Richard Wolff, professor of economics emeritus at the University of Massachusetts-Amherst. From Brexit, to labor protests in France, to Italy’s financial woes, they discuss the effects of austerity on the working class. RT Correspondent Anya Parampil looks at the fallout of Britain’s decision to leave the European Union.
Brexit could trigger a $500 trillion derivatives meltdown, by forcing the EU to allow insolvent member governments and banks to write down debt. Italy is in financial crisis and is already petitioning for that concession. How to avoid collapse of the massive derivatives house of cards? Alternatives are considered.
It’s very rare that you see the ruling elite totally at a loss for words: but they were. Gobsmacked and stunned would be accurate descriptions of the look on the political class’s collective face on the morning of June 24, 2016.
The majority vote by Britons to leave the European Union was an act of raw democracy. Millions of ordinary people refused to be bullied, intimidated and dismissed with open contempt by their presumed betters in the major parties, the leaders of the business and banking oligarchy and the media.
Ask yourself this: Why has immigration been made the pole around which, this entire referendum ‘debate’, has revolved? Why has the closet Nazi Nigel Farage of UKIP been given so much airtime?
I haven’t written a single word about this non-event, precisely because it is a non event. It’s an artificially created argument, with the mainstream reasoning used on both sides, being equally fallacious. A gigantic deception played out with all the pomp and circumstance of a Royal Wedding and just about as empty.
Andrew Gavin Marshall on Jul 22, 2015
From the outbreak of Europe’s debt crisis in 2010, Germany and the Troika institutions of the European Commission, European Central Bank and IMF have come to wield immense influence over the continent and the populations within it. This video examines the individuals and institutions of power in Europe.
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In the early hours of Thursday morning, July 16, the Greek Parliament passed a host of austerity measures in order to begin talks on a potential third bailout of 86 billion euros. The austerity measures were pushed onto the Parliament by Greece’s six-month-old leftist government of Syriza, elected in late January with a single mandate to oppose austerity. So what exactly happened over the past six months that the first anti-austerity government elected in Europe has now passed a law implementing further austerity measures?
An historic betrayal has consumed Greece. Having set aside the mandate of the Greek electorate, the Syriza government has willfully ignored last week’s landslide “No” vote and secretly agreed a raft of repressive, impoverishing measures in return for a “bailout” that means sinister foreign control and a warning to the world.
Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses. Greece could provide an inspiring model of sustainable prosperity for the world. But it is being strangled by a hegemonic power in a financial war that is being waged against us all.
Just after 7 PM Greek time on Sunday, I was told that the “No” vote (Gk. Oxi) was winning approximately 60/40. The “opinion polls” showing a dead heat evidently were wrong. Bookies across Europe are reported to be losing their shirts for betting that the financial right wing could fool most Greeks into voting against their self-interest. The margin of victory shows that Greek voters were immune to media misrepresentation during the week-long run-up as to whether to accept the troika’s demand for austerity to be conducted on anti-labor lines.