The banks are making huge profits again while more people are made redundent from jobs whose services we actually need. Three experts share their views on the European economic crisis, and the failure of governments to take action.
The United States managed to avert a default, and that is good news. But the partisan battle in Congress sent the stock market plunging, and the decision by Standard & Poor’s to downgrade the country’s credit rating has made matters far worse.
The current architecture of the Eurozone exposes its members to the speculative attacks of financial markets, yet does not provide for any crisis management policies.
The world has had more than enough of the Washington Consensus. It’s time to impose an Istanbul Consensus based on common sense, low-cost solutions, public honesty and simple justice and give the people of the LDCs, at last, a chance.
A new government in the Philippines offers the country a rare window to fundamentally shift away from failed economic policies, subordinate to neoliberal ideology and the pre-eminance of illegitimate foreign debtors.
With more poor people in the Philippines now than at any other time in history, its time for the new government to break with the old policy of putting foreign debtors and IMF doctrine first.
The requirements for reducing or eliminating poverty, in Europe and world-wide, are known and the money is there, but the weight of the financial lobby is such that political will at present seems non-existent.
The 25 year long stagnation of the Philippine economy is the consequence of the government’s reduced capacity to invest - as it prioritises debt repayments, and of the loss of revenues due to trade liberalisation.
Assaulted on all sides owing to its entanglement in the ZTE...