RIOTS, petrol bombs, tear gas and strikes greeted the Greek's government's latest attempt to persuade its citizens of the merits of reducing the country's budget deficit.
It is a sad and ironic indictment on the state of the global Left and the progressive agenda, that the very compelling reasons to support a Brexit have been lost amongst the rightful consternation...
Now the Five Star Party has secured the mayor-ship of Rome, Italian Prime Minister Matteo Renzi probably understands what Benito Mussolini meant when he stated: "Governing the Italians is not impossible, it is merely useless". Attempts at reformation by Renzi have not yielded the hoped-for results.
The truth of the matter is, the very powerful Troika of creditors were not interested in coming to a sensible, honorable mutually beneficial agreement. -- Yanis Varoufakis The euro was flawed from the start, everyone knew this. Yes, Greece should leave the euro, but difficult to create a new currency from scratch. Not in the
Greece has agreed to a deal with its European creditors - a deal which sent the #ThisIsACoup
hashtag trending around the world.
Former finance minister blasts EU, saying: "No one government should ever be treated that way in the context of a club of democratic nations.
Many African countries continue to creep along a predetermined path that takes them away from any real possibility to defend their sovereignty and meet the needs of their people.
The larger political and economic costs of the crisis in Greece and Europe are only starting to come to light.
A must-read interview transcript of economics professor Michael Hudson: (we recommend reading this analysis by Ann Pettifor as a complement) "SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to the Michael Hudson Report on The Real News Network. I'm Sharmini Peries coming to you from Baltimore. The Euro is slipping against the dollar, and the European financial... Continue reading ...
In talks with European officials, Yanis Varoufakis, Greece's finance minister, is playing the kind of game that his friend John Nash Jr., the mathematician, had in mind.
What would you tell six hundred leading German social democrats about their party's handling of the Eurocrisis?
Paris isn't even trying to pretend that it cares anymore about hitting the eurozone's debt targets. But now a showdown with Brussels looms.
You can always count on Americans to do the right thing, after they've tried everything else. -Winston Churchill When an article appears in Foreign Affairs, the mouthpiece of the policy-setting Council on Foreign Relations, recommending that the Federal Reserve do a money drop directly on
Razmig Keucheyan: Debt audits show that austerity is politically motivated to favour social elites. Is a new working-class internationalism in the air?
It is official! The Greek government now confirms that the much lauded Greek government primary surplus for 2013 was a mirage created by the return of Greek Statistics (see this recent post). And a
Michael Snyder Activist Post
Colin Leys: Shrinking of NHS hospitals means free provision will be reduced to being good enough for the poor, and a safety net for the rest
One of the striking aspects of the furor over Thomas Herndon, Robert Pollin and Michael Ash's dissection of the considerable flaws in the Carmen Reinhardt and Kenneth Rogoff austerity-justifying paper are the "the earth is still flat" efforts to salvage the theory.
With much of the global economy apparently trapped in a long and painful austerity-induced slump, it is time to admit that the trap is entirely of our own making. We have constructed it from unfortunate habits of thought about how to handle spiraling public debt.