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.
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.
While banks and European leaders negotiate the next public bail out of private greed, and the financial speculation that caused the crisis continues unheeded, Europeans have shown that like many people around the world, from Tahrir to Syntagma Square and Wall Street, they are not going to take more neoliberal austerity lying down. The question already being asked by many observers is - where to now for the popular demonstrations?
TNI has joined twenty trade unions, human rights and civil society organisations from across Europe to send a letter to the President of the European Parliament to ask him to undertake a Report on the situation of human rights, the rule of law and democracy in the country holding the Presidency of the European Council, under article 7 of the TEU.
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
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.
This second of two essays on military spending and the EU crisis, explores the role of the European arms trade, corruption and the role of arms exporting countries in fuelling a debt crisis, and why these 'odious' debts need to be written off.
Experience worldwide shows that EC-imposed privatisation on crisis countries will not work. The alternative is not reinforcing the status quo, but using citizen power and labour to reinvigorate public services and democratically transform the state.
This working paper and infographic provide an overview of a great ‘fire sale’ of public services and national assets across Europe that is providing profits for a few transnational companies but is often fiercely opposed by its citizens.