The term crisis implies a short lived period of uncertainty - suggesting there is something temporary or anomalous about the current state of the global economy. On the contrary, our global economy, from the financial clouds (or bubbles) to the real roots - where men and women work, live and survive - is suffering from systemic flaws based on an ever expanding void between rich and poor.
Behind the deaths, military repression and violence that has flared up on the streets of Bangkok lies another story of a country following the dictates of the IMF and the markets, which increased inequalities and unemployment for many Thais and created the resentment that will continue to fuel conflict in Thailand.
The flawed neoliberal notion behind India's hosting of the Commonwealth Games, that 'development' starts with attracting foreign capital investment - has brought only corruption and the destruction of communities to Dehli.
As Brussels bureaucrats and established political parties struggle to answer the current crisis caused by a faulty economic structure, right-wing nationalist parties have increasingly come to the fore in Europe, with Finland's recent election the last contribution to a worrying trend.
On 8 June the EU Parliament will vote on our response to the Eurocrisis: sign this petition by ATTAC asking them to reject the neoliberal austerity package which will make the public pay for the bank's crimes. There are alternatives to austerity.
The Greek crisis has exposed the fundamental flaws in the Euro project: it stripped countries control over the price of money and allowed political elites to undermine Europe's post-war social contract.
Susan George, Fiona Dove, Yiorgos Vassalos, Dominique Plihon, Kenneth Haar
02 November 2011
In a podcast debate, four activist researchers debate why the European Union is wedlocked to economic policies that will only worsen the crisis and further undermine democratic control of public budget.
The Celtic Tiger might just find its strength and appetite for action in the growth of left leaning electorates and local citizens initiatives. The tailspin of economy caused by austerity policies should be countered by a transparent debt audit.
The real news in Greece is not about riots, but of a growing number of people who have broken away from fear and decided to fight back against the austerity imposed by the 'Troika' of the European Commission, the European Central Bank and the IMF.
Despite the strong and growing resistance in Greece and other European countries to the direction of EU policy responses to the crisis, the process for this new treaty has unfolded with disquieting speed: initiated in November, an agreement was already reached by end of January among the EU25. This comes at the expense of stifling democratic debate and, indeed, shortcutting the normal consultative procedures in the treaty process through legal manoeuvres.