Economic crisis

Economic slowdown shows up the weakness of the system

Britain’s economy contracted for the first time in seven years during the second quarter of 2019.

Pound zig-zags are due to Europe crisis

The pound rose on the foreign exchange markets last week after Boris Johnson became the new prime minister. Alex Callinicos looks at why.

City bosses fear crisis as Woodford investment fund falters

The near-collapse of an investment fund is sending shudders through the City of London - but it could also affect ordinary people

The system is in crisis—fight to get rid of it

Business as usual has broken down in politics.

Banks propped up by states a decade on

The 2007-8 financial crash continues to overshadow the world economy. The big economic news last week was the decision of the US central bank, the Federal Reserve Board (Fed), not to increase interest rates.

Liberals do not have any answers to crisis

Ten years after the collapse of Lehman Brothers, it’s a matter of controversy whether the global economic crisis it helped to precipitate is over.

Ten years from Lehman Brothers—The day the system nearly collapsed

08 September 2018
When US banking giant Lehman Brothers collapsed a decade ago, it marked the beginning of a gigantic crash that bosses still want us to pay for today.

Falling budget deficit means little to those at the bottom

27 August 2018
Sarah Bates argues that Tory boasting about reducing the deficit does not tell the real human cost behind austerity

Syriza signs up for decades more austerity as final bailout deal ends in Greece

20 August 2018
Greece exited its final bailout agreement on Monday—the mechanism through which the European Union (EU) and the bankers have forced austerity on ordinary Greeks.

Games of the stock market

09 February 2018
Last week's fall in financial markets shows up the volatility of the system and Tomáš Tengely-Evans looks at how investors will treat anything as a commodity to be gambled

Panic after big slump on stock markets

06 February 2018
Fear gripped the ruling class as US stock markets haemorrhaged £1 trillion overnight on Monday.

The great PFI swindle

20 January 2018
It’s a long way from the partly built 40-mile £750 million Aberdeen bypass, work on which has been routinely delayed, to the £4 billion luxury development in Doha, Qatar.

We will need sterling resistance to stop the bosses’ sabotage

29 September 2017
It’s not a paranoid fantasy to argue that parts of the establishment want to derail the left wing Labour leadership’s plans.

Fat cats rake it in—make them pay out

08 August 2017
Some newspapers last week reported that Britain’s top bosses have suffered a 17 percent pay cut. The real news is that the gap between bosses’ and workers’ wages is growing.

It’s the rich who have a ‘magic money tree’—and it needs shaking

06 June 2017
The Tories grow endless cash for the bankers, bosses and their super wealthy friends

Banks lied over rates swindle

11 April 2017
Top bankers lied about their lending rates before the 2008 crash—and the plot went right up to the Bank of England.

Obama must take his share of blame

17 January 2017
Barack Obama departs the US presidency amid a cloud of praise and nostalgia.

Crisis gives more cream to fat cat billionaires

07 January 2017
For all their whining about Brexit, the rich have got richer, says Tomáš Tengely-Evans

Deutsche Bank— the profit unarmed

04 October 2016
Deutsche Bank has symbolised German capitalism ever since its foundation in 1870, on the eve of Germany’s unification.

G20 rulers can’t fix their failing system

07 September 2016
The G20 summit this week is a good test of the mood among the ruling classes of the world. It brings together leaders and central bankers from 20 major economies that collectively account for 85 percent of global production and 80 percent of world trade.