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Southern Europeans Flock to Germany

               Associated Press  German flags wave in front of the Reichstag building in Berlin. FRANKFURT—Immigration to Germany hit a 17-year high last year as Southern Europeans flocked north to escape economic recession and search for jobs, fueling the debate over the consequences of immigration for the German economy. In all, 1.08 million people moved to Germany last year, or 13% more than in 2011, Ger ...

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Bangladesh Factory and Corporate Terror

How is it that we label some acts of violence with the brush of global terrorism while others are relegated to the more mundane category of everyday violence? Tsarnaev brothers were instantly characterised as terrorists, and Muslim terrorists at that, with a national and social media frenzy dissecting their crimes boosted by the live spectacle of the "manhunt" in Boston. ...

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The Inequality Machine – The Tyranny of the One Percent

Some revelations come as little surprise. It’s not really news that some politicians love money and like to spend time with those who have lots of it. Or that they sometimes behave like a caste that is above the law. Or that the tax system favours the affluent, and that the free circulation of capital enables them to stash their cash in tax havens. ...

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May Day protests against Bangladesh factory owners

Tens of thousands of Bangladeshis joined May Day protests Wednesday to demand the execution of textile bosses over the collapse of a factory complex, as rescuers warned the final toll could be more than 500. Despite calls by the prime minister for "cool heads", tensions over the country's deadliest industrial disaster showed little sign of abating and there were fears of more violence and vandalism at texti ...

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Four Signs Neoliberalism is (Almost) Dead

Though Margaret Thatcher is no longer among the living, her ideology lives on. That ideology – known today as neoliberalism, “free market fundamentalism” in a phrase coined by George Soros – is strikingly unique. Apart from religious beliefs, is there any example of an ideology that has been so thoroughly disproven yet maintains an aura of respectability? The basic premise of neoliberalism – that “free mark ...

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Special Report: Clandestine loans were used to fortify Greek bank (Reuters)

(Reuters) - The chairman of one of Greece's largest banks and his family took out loans totaling more than 100 million euros to finance an undisclosed stake in the bank, according to audit documents seen by Reuters. Offshore companies owned by Michael Sallas and his two children paid for shares in the Piraeus Bank, the country's fourth-biggest, by borrowing money from a rival bank. Together the shares make ...

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Crisis at the VU University Amsterdam: another symptom of ‘marketization’

Over the last 1.5 years, the VU University Amsterdam has been embroiled in a battle against severe budgetary cuts. The university board (consisting of three members, one of whom is the former CEO of a port company and another, the former CEO of a bank), has launched a reorganization program that includes budget cuts of €33 million. This reorganization will result in 500-600 layoffs (a reduction of 350 full- ...

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Taxmen Have Little Clue of Offshore Companies Owned by Greeks

The Christina O, which was bought and refurbished using two of the offshore companies in ICIJ's data. Photo: Getty Images By Harry Karanikas and Marina Walker Guevara Officials say they will check ICIJ’s data for any evidence of misconduct by owners of offshore companies. Greek citizens who own or direct offshore companies in the British Virgin Islands and other tax havens rarely declare them to Greek tax o ...

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Leaks reveal secrets of the rich who hide cash offshore

Exclusive: Offshore financial industry leak exposes identities of 1,000s of holders of anonymous wealth from around the world David Leigh  The GuardianThe British Virgin Islands, the world's leading offshore haven used by an array of government officials and rich families to hide their wealth. Photograph: Duncan Mcnicol/Getty Images --------------------------------------------------------------------------- ...

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