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A debt write-off for whom?

[ Scroll down for Dutch.] Source: http://www.openeurope.org.uk/Content/Documents/PDFs/greece2ndbailout.pdf   A new restructuring of the Greek debt is in sight. After 2 loan agreements with the IMF and the EU and one debt restructure in February 2012, politicians and analysts consider a new restructuring inevitable. The new element that is politically-speaking extremely sensitive in central and northern Euro ...

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Most Aid to Athens Circles Back to Europe

PARIS — Its membership in the euro currency union hanging in the balance, Greece continues to receive billions of euros in emergency assistance from a so-called troika of lenders overseeing its bailout. But almost none of the money is going to the Greek government to pay for vital public services. Instead, it is flowing directly back into the troika’s pockets. The European bailout of 130 billion euros ($163 ...

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Offshore secrets revealed: the shadowy side of a booming industry

A worldwide research effort in collaboration with BBC Panorama and the ICIJ reveals the people behind these anonymous companies       The existence of an extraordinary global network of sham company directors, most of them British, can be revealed. The UK government claims such abuses were stamped out long ago, but a worldwide joint investigation by the Guardian, the BBC's Panorama and the Wa ...

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Gaza is no longer alone

In the nations of the Arab spring, people are now rising up to demand Palestinian rights as well A Palestinian woman makes the victory sign during the funeral of a child killed in an Israeli attack in Gaza last week. Photograph: Said Khatib/AFP/Getty Images   If you click here, you can listen to the Israeli attacks on Gaza. You can hear explosions, drones and ambulances. This is the soundtrack of the l ...

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Why we are striking against austerity in Europe

Spain: Fernando Lezcano: 'The sacrifice is not being shared'   The European Trade Union Confederation has called a day of action and solidarity throughout Europe on 14 November to fight against the austerity policies being deployed throughout Europe. This day of action will mean a general strike in this country, which, for the first time in recent history, will also be simultaneously held in other Euro ...

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Greece Drinks the Hemlock

Greece’s Parliament did what it had to do on Thursday. Despite some defections from the ruling centrist coalition, lawmakers narrowly approved a $23 billion package of new austerity measures, including further spending cuts to social services, pensions and public salaries, as well as tax increases demanded by Greece’s European lenders. ...

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Greece's austerity: democracy tested to destruction

In the heart of Europe, a democracy now teeters on the edge Editorial   The Guardian, In spring 2010, as Athens wrangled with the IMF and the rest of Europe for what would turn out to be a €110bn emergency loan, a revealing, chilling phrase slipped out. When Greece's then-premier, George Papandreou, begged for easier borrowing terms, he was told by Angela Merkel that the deal had to hurt. According to a wel ...

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Love or nothing: The real Greek parallel with Weimar

Of all the operas written during Germany's Weimar Republic (1919-33), probably the most haunting is the last. Kurt Weill's The Silver Lake, written with playwright Georg Kaiser, tells the story of two losers - a good-hearted provincial cop and the thief he has shot and wounded - as they make their way through a society ruined by unemployment, corruption and vice. After spending a week again in Greece - amid ...

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How The Too Big To Fail Banks Were Born

Large Bank Mergers Since 1990 This is how the U.S. banking monopoly was created after more than two decades of unbridled bank mergers endorsed, and in some cases, encouraged the by the OCC, the FDIC, the FTC and the elimination of Glass-Steagall.   ...

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