Socialist Worker

Economic crisis


What are government bonds and why do they matter?

16 November 2010
Bonds are a way for corporations or governments to raise money. They are the main way states meet the gap between their spending and their income from tax.

Europe makes cuts but the crisis grows

16 November 2010
The European financial system was on the edge this week with bankers demanding more cuts from economies already ravaged by austerity measures.

Bosses fear double dip or ‘Japanisation'

31 August 2010
As politicians, bankers and bosses return from their holidays, they will find plenty of evidence that crucial parts of the global economy are on the slide.

Budget day: chancellor will reveal his plan for pain

15 June 2010
The emergency budget on Tuesdsay of next week will be a blueprint for misery for working class people in Britain.

Tory cuts hit school dinners, housing and childcare

15 June 2010
The Tories’ attacks have already begun—and they are taking aim at the most vulnerable people in society.

‘Economic spring’ is a long way off

16 March 2010
Like winter, the economic slump is reluctant to let Britain escape its grip. All attempts to talk up the "recovery" seem doomed to failure.

The British economy's worst drop since 1921

19 January 2010
The future course of the British and the world economies are shrouded in obscurity. But figures released last week give us a proper measure of the magnitude of what has already happened.

Give us a Christmas bonus: get the cash back from banks

08 December 2009
The real cost of bailing out Britain’s banks was revealed this week – a whopping £850 billion.

Gordon Brown’s government to slash jobs and services

08 December 2009
The war of words between Labour and the Tories over who can slash more of public services stepped up this week.

Crisis exposes ruling class rifts

10 November 2009
The news that Britain has not escaped recession brought a deep sense of gloom to big business. It also exposed deep rifts within the ruling class over what to do next.

Shouldn’t we all make sacrifices?

13 October 2009
Those at the top keep telling us that "we’re all in it together".

Paying for the recession: Save cash, cut the rich

22 September 2009
Socialist Worker offers a guide to painlessly raising huge amounts of money and cutting costs.

The economy: lying to justify cuts

15 September 2009
‘Voters back Tories to cut public spending", screamed the Sunday Times this week. A YouGov poll shows that people want public spending cuts rather than tax increases, Rupert Murdoch’s paper claimed.

Tobin tax bombshell splits ruling class

01 September 2009
Lord Adair Turner, chair of the banking regulator the Financial Services Authority (FSA), shocked the establishment last week by backing the idea of a "Tobin tax".

The current crisis is a test for the left

01 September 2009
When Lehman Brothers, the fourth biggest bank in the world, went under on 15 September 2008, the economic storm became a tsunami. Such was the scale of the crisis that some political commentators described capitalism itself as being on the verge of collapse.

Do growth figures herald an economic recovery?

18 August 2009
Recent figures showing Japan, Hong Kong, France and Germany creeping out of the recession have been hailed in some quarters as heralding the end of the global economic crisis.

Banks go back to bubble bonuses

21 July 2009
Can you believe the banks? While the world economic crisis has deep underlying causes, it was precipitated by the collapse of the credit bubble that had been inflated by major banks in a frenzy of borrowing and lending.

Drastic cuts? British parties turn to the Canadian option

14 July 2009
A meeting that may be a sign of things to come took place in London a few weeks ago. Two former Liberal government bureaucrats from Canada – Jocelyne Bourgon and Marcel Massé – met with leading British Tories and senior civil servants.

British economy in free fall

30 June 2009
Despite predictions of recovery, it was revealed this week that the British economy has suffered its biggest fall in more than half a century.

Crisis leads to confusion at the top

09 June 2009
The bosses’ desired solution to the recession is to make workers pay for it. The political class agrees, but is unsure how far and how quickly it can try to make this happen.

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