Last week the European Central Bank (ECB) and the national central banks of the euro area started a massive purchase of government bonds. This way, sixty billion euros are to be pumped into the financial…
Category: EU
One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin’s regime may be locked out of all international monetary transactions when Moscow…
European Banks vs. Greek Labour: Video: https://www.youtube.com/watch?v=h6NGYZgKZ3A Michael Hudson says Greece’s Finance Minister Yanis Varoufakis is proposing austerity on the banking class, rather than the working class, to balance the budget. Transcript SHARMINI…
Year of the Sheep, Century of the Dragon? New Silk Roads and the Chinese Vision of a Brave New (Trade) World Seen from the Chinese capital as the Year of the Sheep starts, the malaise…
Since 2010 the troika, consisting of the International Monetary Fund, the European Central Bank and the European Union’s commission, has forced different governments in Athens to implement six consecutive austerity programs which have severely lowered the living standards of working people, devastated Greece’s social systems and plunged millions into poverty. This is why on 25 January, the majority of the Greek population decided to vote for a party that raised their hopes for a better future by promising an end to austerity. Four weeks later this dream has been shattered. In last week’s negotiations the troika left no doubt that it will not deviate from its path of insisting on the unrestricted continuation of austerity politics. In other words: The working people of Greece will have to keep filling the gaps in the state budget generated by the bank bailout in the beginning stages of the Euro crisis.
Looking through the US Tactics On January 25 in New Delhi, Indian Prime Minister Narendra Modi and US President Barrack Obama held a summit meeting, whereupon they announced a joint statement, which now undergoes various…
In this post there will be a few questions I’m going to answer, but leave others for you—if you want to leave a comment. First, the dictionary definition for Communism: a theory or system of…
China and Russia plan to extend their strategic partnership in finance, aviation and space as well as improve trade and economic cooperation, said Chinese Vice Foreign Minister Cheng Guoping. “It is essential to improve practical cooperation, as both sides will be increasing and expanding trade, and innovation,” Cheng said during a news conference in Beijing as quoted by Rossiya Segodnya. Trade between the two countries was worth $95.3 billion in 2014. China and Russia expect it to reach $200 billion by 2020. Radio Sputnik: ‘China – Russia partnership is at its best and will enhance further’ – Xiyu Yang The two countries will continue to expand cooperation in aviation, space and nuclear energy; he said adding that China will actively cooperate with Russia in finance to seek new forms of interaction.
Yesterday the new SYRIZA-led Greek government, elected on an ‘anti-austerity’ platform, presented its proposals for an alternative debt management regime to an emergency meeting of Eurozone finance ministers in Brussels. Various options continue to be…
Is Peace or War at Hand? At this time we do not know the outcome of the meeting in Moscow between Merkel, Hollande, and Putin. The meeting with Putin was initiated by Merkel and Hollande, because they are disturbed by the aggressive position that Washington has taken toward Russia and are fearful that Washington is pushing Europe into a conflict that Europe does not want. However, Merkel and Hollande cannot resolve the NATO / EU / Ukraine situation unless Merkel and Hollande are willing to break with Washington’s foreign policy and assert the right as sovereign states to conduct their own foreign policy.