Venezuela has undergone profound political and social changes since Hugo Chávez assumed the presidency in February 1999, which have been reflected in the fundamental pillars of the government’s economic policy.
In a recent editorial comment, The Economist issued a solemn call to all believers in global capitalism not to despair, not to panick, and to do nothing that could endanger the capitalist system (October 18-24, 2008). The magazine invoked the words and spirit of its founder, the Scottish businessman, James Wilson, who, about 165 years ago, gave the paper the philosophy of "economic liberty".
The ideological reasoning behind UK government policies is that the market is the only way to make public services 'efficient'. Isn't it time we talked about social efficiency, maximising public benefit rather than maximising profit?
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.
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.
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.
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.
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