Socialist Worker

Economic crisis

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.

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.

How long before Greece defaults?

13 September 2011
World stock markets tumbled on Monday as the rich feared that Greece would default on its debt.

General strike brings Italy to a halt

06 September 2011
Millions of workers in Italy took part in a general strike today (Tuesday) against the government’s austerity plans.

Rulers’ medicine is killing the patient

30 August 2011
It’s official—austerity isn’t working. When the banks first went into crisis, politicians rushed to pour public money in to keep them afloat.

Cuts have just made crisis worse

16 August 2011
The economic crisis wracking many countries is deepening. New figures show that austerity measures are making things worse.

System failure: Why a global storm has battered the economy

09 August 2011
The world economy appears once again to be on the brink of disaster. The volatility that swept through markets in recent days is reminiscent of the panic of autumn 2008, when the Wall Street bank Lehman Brothers collapsed.

Global elite united in making us pay

02 August 2011
The agreement to push through trillions of dollars in cuts in the US saw a shocking level of vitriol—if not downright pleasure—from right wing politicians.

Paralysis in EU as Greek crisis grows

12 July 2011
The old ones are sometimes the best. "Denial is not a river in Africa, but it is a state occupied by many eurozone politicians."

Masters of world have lots of worries

31 May 2011
THE G8 summit gathered last week in the French resort of Deauville. Apart from endorsing Barack Obama’s attempt to co-opt the Arab revolutions, it’s not clear what it did.

Across Europe, this is one fight

24 May 2011
The austerity plans of Europe’s elite are devastating lives, pushing economies further into crisis—and sparking mass protests.

Solidarity with Spanish protests across Britain

24 May 2011
Solidarity protests have sprung up in towns and cities across Britain.

‘No house, no job, no pension, no fear’ - what lies behind Spanish revolt

24 May 2011
Young people are at the centre of the dramatic Spanish revolt that exploded a week before last Sunday’s municipal and regional elections.

How thousands are organising

24 May 2011
Mass assemblies take place in the camps every evening. They involve everyone present.

Recovery, what recovery?

03 May 2011
While the Tories talk of a "fragile economic recovery", life is getting increasingly worse for most people—not better.

Greece can break from the cuts consensus and default on debt

26 April 2011
Greece is being buffeted around in the financial markets as speculation grows that it will default on its huge debts.

Coalition's in crisis: now's the time to strike

26 April 2011
The Tories are calling the Liberal Democrats "whingers" and "yapping dogs". The Liberals are calling the Tories liars.

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