The Euro is murdering the nations and economies of the EU quite literally. Since the fixed currency regime came into effect, replacing national currencies in transactions in 2002, the fixed exchange rate regime has devastated industry in the periphery states of the 19 Euro members while giving disproportionate benefit to Germany. The consequence has been a little-noted industrial contraction and lack of possibility to deal with resulting banking crises. The Euro is a monetarist disaster and the EU dissolution is now pre-programmed as just one consequence.
Joe Glenton, who, as a soldier, was jailed for refusing a second tour of Afghanistan, is the author of Soldier Box and a member of Veterans For Peace UK. The following piece was written in May 2016 as a commentary on the Invictus Games, but we feel it’s particularly resonant on this, Armistice Day: Veterans and soldiers have no champion […]
Essentially, housing associations behave like private companies. This process is being accelerated as a result of the Housing and Planning Act which forces local authorities to sell off council housing. The proceeds are then used to encourage housing associations to extend Right to Buy which will reduce the amount of affordable housing stock even further.
The mismanagement of the UK economy by both the New Labour and Tory governments’ that followed the global crash of 2008 led to the poorest and weakest in society disproportionately picking up the pieces by way of savage cuts and austerity resulting from this incompetency.
If a country or region has no power to devalue, and if it is not the beneficiary of a system of fiscal equalisation, then there is nothing to stop it suffering a process of cumulative and terminal decline leading, in the end, to emigration as the only alternative to poverty or starvation.
The main changes I do expect from Brexit are a long overdue material shift in the power balance away from London and its elite and back to the once working class regions of the UK. These have been the victims of a globalisation that, when it was first championed by Thatcher and then Blair, was supposed to have either no victims at all, or “losers” who could be easily compensated by the “winners”.
Across the Continent, the unelected officials who have usurped the power of national governments and asserted their right to determine the fates of countless millions, through their adherence to the damaging creed of neoliberalism, have wrought suffering on an unimaginable scale, casting millions into poverty and removing the last vestige of dignity people cling to in an economy that has fallen prey to the voracious claims of big business.
The spate of strikes throughout France show that working class militancy remains strong. But the labour movement needs to break with class collaboration and social democracy if it is to succeed in advancing the cause of the poor.
By featuring some perspectives whilst excluding others, UK media has played a crucial role in the legitimisation of austerity policies.
The media cannot tell people what to think in a simple manner. However by featuring some perspectives whilst excluding others it plays a crucial role in the legitimisation of policy and the exercise of power.
“Print the money” has been called crazy talk, but it may be the only sane solution to a $19 trillion federal debt that has doubled in the last 10 years. The solution of Abraham Lincoln and the American colonists can still work today. “Reckless,” “alarming,” “disastrous,” “swashbuckling,” “playing with fire,” “crazy talk,” “lost in a forest of nonsense”: these are […]
You may be thinking ‘but this disaster befell that poor African country more than thirty years ago, surely things must be better today’. Well sadly, no, things are not any better. In fact the systemic failures which precipitated the local food shortages and amplified the effects of the drought have never been fixed and are in fact worse today than they were back then.
“We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every mark that was issued we required the equivalent of a mark’s worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank.”