Financial crisis has been with us since 2007. Not much is changing. Have the established forms of capitalism failed? Chris Smith urges us to think about the economy from a progressive perspective.
Global capitalism continues to lurch from one crisis to the next, just as any good Marxist account of reality tells you it is destined to do. The US, the world’s largest economy and lynchpin of global capitalism is having its credit rating downgraded for the first time in its history. Whether this downgrade by one ratings agency turns out to be as universally damaging to the workings of Continue reading
The latest Euro crisis has cast doubt on the viability of European integration. While the economics of the EU are easy to implement, its desire for political dominion over its 27 members is damaging the Union. The European Union must learn that its citizens want is a single market and nothing more, writes Huw Longton.
History shows us that Europeans feel more European at times of crisis and uncertainty. Indeed, it is in such a context that Europe has integrated most: the aftermath of World War II, the collapse of Continue reading
Who has the most dodgy economy in the EU after the PIIGS? Oh, it’s us. Britain. Would the Germans and the French be as willing to bail us out as they are Greece and Portugal? Asks Ventilator Blues.
I do hope that everyone is praying for a disorderly end to the PIIGS bailout saga which comes to another hydra-head 21st July 2011. Us Brits much cheer on further stagnation and fudge or we are doomed and here is why. Continue reading
The weak Greek economy is to be bailed out once again. Instead of allowing the Euro to crumble, the Germans fight to keep the Euro together. There is evidence of strong economies upholding weak: West Germany sustained the East, the West of Turkey sustains the East, London sustains the North. But the strong Euro nations cannot sustain the weak ones because they do not share a culture, identity or language, writes David Vaiani.
So, once again, EU leaders have clubbed together to bail out the Continue reading
The subject of European integration has always troubled the Conservative Party, to the extent that it cost Thatcher her leadership. With the single currency and possibly the European Union itself teetering on the brink, how would its collapse affect the Conservative-led government, wonders Colin Marsden.
The debt crisis in the Eurozone may yet spell the end for the single currency, at least in its present configuration. The logic is that the currency area must fully intergrate economically or abandon the Euro. Will or can European political union survive the crisis? The Conservative Party and indeed “Conservatism” has tended to be seen as Euro-sceptical but, from Macmillan to Cameron, Conservative governments have led the process of ever closer union with our European nieghbours. Continue reading
Hartz IV is Germany’s divisive welfare programme. It involved the consolidation of unemployment and welfare benefits. Some argued the new singular benefit was too low. However, the programme still encourages people to live off benefits when they are able to work. What with bailing out Greece, can the Germans also sustain its current benefits system, asks Helena Miteyko.
The Hartz concept is a term for the Commission’s proposals “Modern Services in the labour market” which was held in Continue reading