"The financial crisis" is one facet of the systemic and converging crises of capitalism - a predictable symptom of oligopolistic late capitalism; but what main challenges lie ahead for the Left in South Africa?
Three years since the outbreak of the global financial crisis, the banks are back making mega-profits while the burden has clearly shifted to citizens and workers. However civil society action at European level could still make a difference in reining in the financial sector.
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.
2011 witnessed the implementation of some of the most comprehensive undemocratic structural changes in the EU since the Lisbon Treaty. Alternative proposals for a progressive exit from the euro crisis are laid out here.
A new Pan-European network to fight against the EU's austerity policies and support a fairer, greener, more democratic Europe has been launched in Brussels, following two days of discussion and debate at CEO's conference on the EU in Crisis.
The ruthless austerity programmes imposed on Greece and the endless cycle of debt renegotiations will only come to a close when Athens takes charge of its predicament and announces a democratic and sovereign cessation of payments.
The Irish government announcement of a €34 billion Euro bailout, two years after the financial crisis first broke, is a reminder that little has been done to prevent it happening again just as the social costs are becoming ever more evident.
Until the European Commission shows it has learnt the lessons of the 2008 financial crisis and demonstrates the political will to re-regulate the financial sector, it will be unable to resolve the crises in Greece, Ireland and Portugal