March, 2010

Down on the Euro Animal Farm, some animals are more equal than others, finds Eric Walberg.

Two million people took to the streets of Athens last week in the country's second general strike this month, protesting the austerity measures proposed by their socialist government. All of Greece came to a 24-hour standstill and the airport was closed as a result of the action. The only public transport was the commuter train so that protesters could reach the demonstration.  Read more »

Wall Streets is headed toward international pariah status thanks to two recent actions by the European Union (EU).

On Tuesday, the EU announced that it was banning Wall Street banks from the lucrative government bond business in Europe.  Read more »

A new phase in capitalism’s global economic crisis appears to be opening up. As is usual, this crisis has first hit the financial sector of capitalism.

First, it was in the privately-owned banks and other financial institutions. Now the contagion has spread to public treasuries. The sovereign debt crisis in Dubai was the first warning. Now it is Greece.  Read more »

LONDON — Iceland’s voters expressed their outrage on Saturday against bankers, the government and what they saw as foreign bullying, overwhelmingly rejecting a plan to pay $5.3 billion to Britain and the Netherlands to reimburse customers of a failed Icelandic bank.

With about 30 percent of the votes counted, roughly 93 percent of voters said no to the plan, in the first public referendum ever held on any subject in Iceland. Less than 2 percent voted yes, and the rest of the votes were invalid.  Read more »

Wednesday’s general strike in Greece, involving 2 million workers in the public and private sectors, marks a turning point in the political situation throughout Europe.

It represents the most significant manifestation of a growing movement of resistance to the attempt by Europe’s governments and corporations to make workers pay for the economic crisis and the multi-billion-euro bailout of the banks.  Read more »

Open warfare has broken out at the top of the European Union with governments accusing the new president, Herman Van Rompuy, of making a power grab.

National leaders are concerned Mr. Van Rompuy, who had been expected to take a back seat role, is attempting to expand his position.  Read more »