John Palmer, former European editor of the Guardian, spoke to Solidarity about what the current talk among EU leaders about “growth initiatives” is likely to yield.
Crisis opening in 2007
The Netherlands' right-wing, neo-liberal, fiercely pro-cuts coalition government collapsed over the weekend 21-22 April, unable to agree on measures to reduce the country's budget deficit to the EU's
Current European Union policies will produce "Great Depression conditions for a decade" in southern Europe, predicts economist Engelbert Stockhammer.
Hurrah for the LTRO! So say the business pages of the press.
Committee Room, Victoria Hall, Chapel Walk, Sheffield City Centre
By Martin Thomas
David Cameron's veto, on 9 December, of the plan for a new economic treaty backed by all 26 other European Union governments, may shake British politics and Britain's future relations with the EU. The 9 December summit itself may shake more. The 26 adopted a plan which has little chance of smoothing the financial crisis shaking the eurozone, and may make it worse.
By Michel Husson
La décision de Georges Papandreou, le premier ministre grec, de soumettre l’accord du sommet européen à référendum marque une nouvelle étape dans la crise européenne. Il faut d’abord situer cette crise dans la durée, pour bien en comprendre les causes et les enjeux.
By Michel Husson (2 November 2011)
In French: below or at http://hussonet.free.fr/bailout11f.pdf.
The decision by Greek prime minister Georges Papandreou to put the Eurosummit agreement to a referendum marks a new step in the European crisis. To understand the causes and what is at stake in this crisis, we must first situate it in the broad sweep of events.
“Companies are sitting on huge cash reserves”, reports a writer in the Financial Times (3 October). “In the US, for example, companies had $1,200bn (€880bn) stashed away in cash and short-term liquid investments at the end of last year”.
By Michel Husson
The crisis has taught us a lesson: “neoliberal Europe” was a badly-conceived thing, which has become more and more rickety over the years and appears to be incapable of standing up to the “stress test” of crisis.