Eurozone

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Extending The Debt: The Great 'Promnight' Swindle

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Sometimes you can walk around this city and feel like you are the last sane person left on the island.  On the front page of every single newspaper the spin doctors have gone into their highest setting possible with the great news that we’ve buried the rotten corpse of Anglo Irish bank which had been stinking up the whole economy for years now.   We’d cut ourselves away from this horrible thing, we no longer had to pay out this awful promissory note for a staggering amount of €3.1 billion every year.  We were now going to just liquidate the rottenest bank of all time, transfer it over to the men in black (NAMA) and the plan then was to pay interest only on this astronomical debt (€40 Billion) until 2038.
 

An anti-capitalist and environmentalist perspective on the Euro crisis

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Paul Bowman gives a 40 minute presentation on the Euro as a moment of the internationalisation of capital and looks for a way of dealing with the crisis that goes beyond the alternative models of capital being argued for by the left. If the height of a crisis is not the moment to raise a discussion of an anti-capitalist alternative then when is? Beyond this he also warns against the stagest approach much of the left has adopted where the economic crisis is to be addressed first by a demand for growth and the environmental crisis ignored till later.

What is the Fiscal Compact: Smoke & Mirrors

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As the flames from the latest round of rioting in Greece die down, the incapacity of the mainstream media to tell the story of the current Eurozone crisis leaves us as much in the dark as before the Molotov’s lit up the nightly news.

Anarchism, Internationalism & the Euro Zone Crisis

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The euro zone crisis, and the mainstream opinion formers’ response to it, raises the question of nationalistic understandings of the way the world works, and how these understandings frame our perception of where our interests lie.

The Crisis and Core & Periphery in the Eurozone - Peripheral Vision

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At the same time that we are witnessing a wave of popular protest in North Africa and the Middle East against aged and corrupt neo-colonial dictatorships, in the heart of Europe we are witnessing something unprecedented and absolutely extraordinary.

History appears to moving in the ‘wrong direction’ in the so-called peripheral countries of the Eurozone.

The failure of the ECB IMF deal and what they are up to

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If we accept that this deal was never meant to provide justice to the people of Ireland, then we have to judge its success or failure on other grounds, the ones it was designed to fulfill.  From that perspective the willingness of the rulers of the French, Germans, British and others to drive countries like Ireland and Greece and Portugal, each of us less than 2% of the Eurozone economy, into ruination is understandable, albeit unforgiveable. Just as there is no honour amongst theives, so there is no solidarity amongst capitalists.

Europe Forged in Crisis: The Emergence and Development of the EU - discussion with the author

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"Although the EU is not new, and its role in determining the economic and political development of Europe is both substantial and well established, critical analysis of the EU is sorely lacking. Most of what is written on the EU is uncritically liberal and focuses on diplomatic and legislative detail. What little critical literature exists often simply interprets the EU in terms of the function it plays for neoliberal globalization. When analyses of the EU go from what it does to the larger questions of what it is and why it exists, analysis often becomes completely un-rooted."

 

Europe Forged in Crisis: The Emergence and Development of the EU - discussion with the author Oisin by Workers Solidarity on Mixcloud

 

IMF back Syriza demand for debt write off while EU leaders wish for soft coup

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Last night (2 July) the IMF in effect put its weight behind the Syriza government and the call for a No vote (OXI) in the referendum. An image of Chile's socialist president Allende, murdered in the 1973 US coup 'backing' the No vote captured for us both the contradictions and dangers of Sunday's vote in Greece.

Will Syriza Pull Down Temple on ECB?

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Do we live in an economy or in a society? Last night Europe's central bankers sent the clear message they expect us to be the well behaved slaves of an economy rather than equals in a society. Less then two weeks after the Greeks had elected an anti-austerity government the ECB in effect told them they intended to block the promises of change that government was elected on.

Last night the ECB stopped the use of Greek sovereign bonds as collateral in borrowing from the ECB. In doing so they were sending a clear message that they expect the new Syriza/ANEL government in Greece to completely abandon the anti-austerity promises they were elected on. If they fail to obey the unelected central bankers then this policy change was intended to indicate a willingness to allow the collapse of the Greek banking system, something that would have disastrous effects in Greece but also across the rest of the EU.

German elections to open new season of Eurocrisis show

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The Mighty Calm - by "deep shot" from FlickrLike the fading sun of the Summer, there is now little time left to enjoy the last days of Eurostasis we have been enveloped in of late. The relative calm that descended on the Eurocrisis, with the brief exception of the Cyrpus panic in March, is coming to an end with the German elections this coming Sunday.

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