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Tag Archives: Politics and Economics

How deep will the Depression occasioned by Covid-19 be? Debate on BBC World Service’s THE REAL STORY

Coronavirus: The economic crisis – Just how bad will the downturn be and can anything be done to soften the blow? Contributors Stephanie Flanders – head of Bloomberg Economics Yanis Varoufakis – Greek economist, politician, secretary-general of DiEM25 who also served as Greek finance minister during 2015Linda Yueh – economist and author of the book: ‘The Great...

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Monetising misery & the future of capitalism – ABC Radio National, BIG IDEAS program

Enormous global corporations and financial institutions are now, some say, more powerful than governments. Rules that once constrained and regulated capitalism have gone. And when their power causes massive destruction, the captains of Big Capital find ways to profit from the destruction. So, is modern capitalism, itself, a threat to capitalism? Or will corporations always...

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Yanis Varoufakis: “Syriza Was a Bigger Blow to the Left Than Thatcher” – JACOBIN

Former Greek finance minister Yanis Varoufakis told Jacobin why he’s publishing his secret recordings of the critical Eurogroup meetings of 2015 — and why the Left around Europe is struggling to overcome Syriza’s disastrous legacy. Yanis Varoufakis during his speech in Hellenic Parliament. Dimitrios Karvountzis / Pacific Press / LightRocket via Getty INTERVIEW BY George Souvlis When Syriza was voted out of...

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Climate change is capitalism’s Waterloo – IRISH EXAMINER

Steven Mnuchin’s snide remark about teenage climate activist Greta Thunberg at this year’s World Economic Forum meeting in Davos outraged liberal commentators. US treasury secretary Mnuchin, responding to Thunberg’s call for an immediate exit from fossil fuel investments, said that she should go to college “to study economics” before “she can come back and explain that to us”. Two days earlier, Trump had referred...

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Brexit: A rational choice for the wrong reasons? – Financial News & Project Syndicate

The motives and thinking behind Brexit were even less worthy than those behind US President Richard Nixon’s move in 1971 to ditch the Bretton Woods system. But, as with the “Nixon shock,” there is a singular underlying historical factor that explains Brexit. ATHENS – At pivotal historical moments, rational political ruptures often are brought about for all the wrong reasons. UK Prime Minister Boris Johnson’s...

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Coronavirus has sparked a perfect storm of nationalism and financial speculation – THE GUARDIAN

Nationalism and speculation have seldom had a better opportunity to combine forces as the one riding today on the coattails of Covid-19, known as the coronavirus. When Covid-19 leapfrogged from China to Italy, even ardent Europeanists normally appreciative of open borders joined the deafening calls to end freedom of movement across Europe’s national borders – a longstanding demand of nationalists. Meanwhile, the...

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Oligarchy & Xenophobia: The only beneficiaries of Greece’s economic ‘recovery’ – The Guardian

Spring is already in the air across Greece. Even in the bleakest of times, nature’s renaissance renders hope irrepressible. But this one is proving a cruel spring for a people caught up in a decade-old crisis yielding one ritual humiliation after another. Costas runs a small bookshop in my central Athens neighbourhood. Although jovial by constitution, he finds it difficult to hide the worry lines multiplying on...

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