World Economy
Financial markets increase pressure on Spain
By Alejandro López, December 1, 2010
Spain, along with Portugal, has become one of the central targets of financial market demands for further austerity measures directed at the working class.
Spain’s middle-class “left” parties and the French pension struggle
By Alejandro López, December 1, 2010
Spain’s middle-class “left” parties have supported France’s New Anticapitalist Party (NPA) and the French trade unions in their betrayals of the October-November strikes against social cuts by the Sarkozy government.
Financial oligarchy dictates terms of Irish bailout
By Jordan Shilton, November 30, 2010
The €85 billion bailout agreed on Sunday evening between the European Union, International Monetary Fund and the Irish government will further impoverish the working class.
“They’re going after the people who are least able to afford it”
Demonstrators in Ireland denounce austerity cuts
By our reporters, November 29, 2010
The World Socialist Web Site interviewed a number of workers, students and academics at the November 27 Irish Congress of Trade Unions and outside Trinity College.
Tens of thousands protest EU-IMF bank bailout in Ireland
By Chris Marsden, November 29, 2010
Saturday’s demonstration in Dublin against the bailout of banks drew between 50,000 and 100,000, massive by Irish standards.
Four of five Las Vegas mortgages “underwater”
By Roger Herman and Therese Leclerc, November 29, 2010
Four of every five Las Vegas homeowners hold mortgages that exceed the value of their homes.
US states prepare unprecedented cuts to social spending
By Alexander Fangmann, November 29, 2010
Facing record budget deficits, states across the US are preparing unprecedented cuts to every aspect of social spending in the wake of the mid-term elections.
One hundred arts organisations face destruction from UK budget cuts
By Jackie Warren, November 29, 2010
The Conservative-Liberal Democrat coalition government proposes slashing 29.9 percent from arts funding over the next four years. As a result, 100 arts organisations are threatened with losing their entire funding.
Ireland’s main opposition parties signal support for austerity budget
By Jordan Shilton, November 27, 2010
The new budget, which includes €15 billion in budget cuts through 2014, is tied in with a European Union/International Monetary Fund bailout of the banks.
Portugal passes austerity budget as speculative attack on Spain intensifies
By Andre Damon, November 27, 2010
The European debt crisis intensified Friday, as speculators continued their latest attacks on Spain and Portugal. Meanwhile tensions rose between Germany and European officials over the amount of money to set aside for further bailouts.
UN agency predicts global food crisis as prices soar
By Barry Mason, November 27, 2010
A United Nations Food and Agriculture Organisation (FAO) report published this month warns that food price increases are “dangerously close” to crisis level.
First arrest in high-profile insider trading investigation
By Andre Damon, November 27, 2010
The US government has arrested an investment research firm employee in the first charge related to an ongoing federal insider trading investigation.
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