Socialist Worker

Economic crisis

If I use an umbrella, will it lead to rain?

23 April 2013
One of the many puzzles about the economic crisis is that people still listen to economists after they failed to anticipate the financial crash of 2007-08, writes Alex Callinicos.

Tories in crisis allow chance of left revival

05 April 2013
Totally marginalised under Tony Blair and Gordon Brown, the Labour left has been one of the driving forces behind the swelling protest movement against the bedroom tax, writes Alex Callinicos

Cameron can't spin his way to economic recovery

30 October 2012
David Cameron boasted last week of ending Britain’s double dip recession. But behind the fanfare, the facts are as grim as ever.

Portugal: mass protests against IMF

14 February 2012
More than 300,000 demonstrators took to the streets in Portugal last Saturday to take part in the country’s biggest mass protest for decades.

New job cull

17 January 2012
Premier Foods announced 600 job cuts this week—

Euro bailout fund loses credit rating

17 January 2012
The institution set up to bail out failing European economies has become the latest casualty of the crisis.

Economic crisis is sparking radical resistance

10 January 2012
2011 was the year when what often seemed like Marxist abstractions—crisis, revolution and mass strikes—became living realities.

Italy’s Monti faces strike wave

13 December 2011
A huge strike wave involving thousands of workers kicked off in Italy this week. The country’s three main union federations—the CGIL, CISL and UIL—joined together for their first united strikes for six years.

The rich get richer

13 December 2011
<a href="graphics/2011/keep/2283_08_09.pdf">Download full spread as pdf</a>

Italy: unelected leader imposes new austerity measures

06 December 2011
Unelected leader Mario Monti has forced through 30 billion euros of austerity cuts by parliamentary decree. These new cuts will be implemented before Italy’s parliament can discuss them.

Eurozone teeters on a knife edge

06 December 2011
The Eurozone’s political leaders are battling to prevent the collapse of their economies. This week Standard and Poor’s, the US credit rating agency, warned that all eurozone countries—­including France and Germany—could lose their credit ratings.

Northern Rock: Richard Branson bags millions

22 November 2011
The government will hand over part of the Northern Rock bank to Richard Branson’s Virgin firm.

Merkel ups the Europe stakes

15 November 2011
Germany’s chancellor Angela Merkel has responded to the latest eurozone crisis by calling for closer European integration at a political level.

Rulers are creating a crisis of democracy

15 November 2011
I read recently a book by the economist Barry Eichengreen called Golden Fetters. This is about the collapse of the gold standard during the Great Depression of 1929-39.

Crisis is at the heart of capitalism, as any ‘expert’ should know

15 November 2011
Europe’s leaders breathed a sigh of relief when prime ministers George Papandreou in Greece and Silvio Berlusconi in Italy stepped down.

French debt rating threat

15 November 2011
France’s rulers have a new headache on top of their economic woes. Agencies are threatening to lower the country’s "triple A" rating.

Portugal sinks into the red

15 November 2011
The recession is getting worse in Portugal, one of the most vulnerable countries in the eurozone.

Deficits, debt and default—a basic guide to the jargon

27 September 2011

Banks demand more austerity for Greece

27 September 2011
The Greek economy is sliding deeper into recession. Its deficit is getting worse. So why are Western powers insisting on making Greece honour debts that it has no chance of repaying?

A crisis at the top opens spaces below

27 September 2011
An air of unreality accompanied coverage of the International Monetary Fund/World Bank meeting in Washington DC last weekend.

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