The untold story of the Greece coup: Another democratically elected leader tossed overboard for not submitting to economic orthodoxy
The Greek people said no to austerity, knowing the path would be hard. They learned bittersweet, painful lessons. A scant week ago it looked as if Greeks were about to teach all of us something of great value. With their…
Radical austerity’s brutal lies: How Krugman and Chomsky saw through dehumanizing neoliberal spin
The battle in Greece is identical to the one we need to be waging right here for fairness over markets and banks. The referendum in Greece refuting the European Union’s unbending insistence on radical austerity as the medicine Greeks must…
Big banks run everything: Austerity, the IMF and the real story about world economy that the media won’t tell you
If you want to understand what’s really happening in Greece and Ukraine, just follow the money. Fascinating to watch the International Monetary Fund as it fronts for the U.S. Treasury and international lenders in the Greek and Ukrainian debt crises….
Europe Faces Anti-Austerity Mutiny as Crisis Looms
The running theme at the meeting of European Union leaders in Milan last week was, “The toolbox is empty. Nobody knows what to do next to get Europe’s economies out of the ditch.” News reports from Milan correspondents told a…
Europe’s New Recession Is One Just One of the West’s Problems
After the mini-avalanche in the markets last week, it would be comforting to conclude they are oversold and investors will soon come to their senses. Could be. But behind the clear indications of slower growth in Europe, Asia, and elsewhere,…
Europe’s Sluggish Recovery: A Delusion of Growth
The spring meeting of the International Monetary Fund and the World Bank, which concluded Sunday, was all about our nascent global recovery. “We are at the point where the economy has turned the corner or is turning the corner of…
Post-Austerity Europe Gropes for a Game Plan
In Spain, King Juan Carlos proposes to give up his 136–foot yacht (although there is bickering over who should get it). In France, President Francois Hollande just raised $390,000 by selling 1,200 bottles of wine from the Élysée Palace cellars…
Europe’s New Path: Austerity with a Human Face
It did not take long for those flying the flag of fiscal austerity in Europe to turn tail. A week ago in this space I asserted that it was the beginning of the end for the “austerians.” I was too…
European Austerity Does a 180 as Lagarde Weighs In
It will not be long before we look back on this year’s meetings of the International Monetary Fund and the World Bank, which conclude Monday, and see a turning point in the global economic crisis. Europeans, who have suffered the…
The Post Austerity Way Forward for Europe
Italian voters delivered a hopelessly inconclusive election result last week. But the message they sent–to their political leaders, to Brussels, to Germany, to the global markets–is crystal clear: The austerity policies now in place to remedy Europe’s fiscal and economic…
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