Socialist Worker

Economic crisis


Markets in turmoil expose myth of economic recovery

25 August 2015
Global financial markets were in turmoil this week after China’s stock market suffered its biggest one-day plunge since 2007. The crisis has been dubbed “Black Monday”. 

Syriza fell in Greece because it gave in to the bosses demands for austerity

25 August 2015
Greece’s coalition government, led by the radical left party Syriza, has collapsed because it capitulated to bosses’ pressure to sign a new bailout agreement. This forced Syriza leader Alexis Tsipras to call a new election.

‘Uncle Xi’s bull market’ is collapsing in China

15 July 2015
Sally Kincaid looks at the causes of China’s stock market crash and how it terrifies the country’s workers and rulers for different reasons

Why Ukraine gets an easy ride over debt

02 June 2015
You may not have noticed, but Greece isn’t the only country that is engaged in difficult negotiations about its foreign debt. Ukraine is too.

Imperial boundaries are being redefined in South East Asia

12 May 2015
China’s ability to exert its influence in neighbouring countries shows the limitations of US imperialism, writes Tomáš Tengely-Evans

Make the rich pay

03 March 2015
There's no need for austerity - and we have the numbers to prove it

Greek workers shouldn’t pay the bankers’ debts

03 February 2015
People in Greece are furious that austerity is being imposed on them in exchange for bailouts of the government’s debt to the bankers.

Bosses fear that crisis will create revolt

20 January 2015
Alarm is growing among the ruling class as cracks in the old political order deepen. They know that more and more people are questioning their system and looking for an alternative.

Deflation is driving the currency chaos

20 January 2015
The global financial system suffered an unexpected jolt last week

Defying the bankers is the only solution to the crisis in Greece

16 December 2014
The government that’s currently collapsing in Greece is a grand coalition between the Tory New Democracy party and the Labour-type Pasok.

Greece's government faces collapse as general strikes rock Italy and Belgium

16 December 2014
The year that was meant to bring relief to the eurozone’s crisis is instead ending in strikes, stock exchange runs and political collapse on some of its key battlegrounds.

World leaders trade hot air as a new economic crisis looms

18 November 2014
World leaders shook hands a lot last week, with the G20 summit in Brisbane, Australia, and the Asia Pacific Economic Cooperation (Apec) conference in Beijing, China.

Wealth gap shows why we need a better world

04 November 2014
There are more than twice as many billionaires in the world today as there were five years ago. 

Rising markets are sign of deep malaise

04 November 2014
Faced with disaster on almost every front, David Cameron and George Osborne are desperately talking up the British economy. 

Our rulers fear a new economic crisis after new market upheaval

21 October 2014
The upheaval in the global financial markets last week raised the spectre of a new crisis. It was also proof that the old one is still sending shudders through the system.

Desperation in Detroit: ‘There’s so much tension, something’s going to explode’

23 September 2014
People in Detroit face a desperate situation as creditors circle—but their fury has also pushed some to resist, reports Judith Orr

Far right threat looms over Europe as its economy stagnates

16 September 2014
Panos Garganas argues that fighting the fascist Golden Dawn in Greece must go hand in hand with fighting against austerity

Why Karl Marx remains relevant - Deciphering Capital by Alex Callinicos

08 July 2014
Alex Callinicos’s new book Deciphering Capital argues that Karl Marx’s main work is still vital to understand how to change the world, writes Mark L Thomas

Insurgents seize cities as crisis in Iraq grows

17 June 2014
Renewed fighting in Iraq threatens to push the country into a new sectarian hell, writes Simon Assaf

Super rich double their wealth under the Tories - Make them pay for the crisis

13 May 2014
The number of billionaires living in Britain has risen to more than 100 for the first time.

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