Faced with the political and economic cost of spending cuts, even the Conservatives are being forced to retreat. There is no situation where cutting spending makes an economy grow. It does the … Continue reading Austerity: how an ideological project failed on its own terms
The strategy of austerity will have long-term consequences throughout Europe And Greece will continue to suffer for decades to come. Source: Greece’s bailout is finally at an end – but has been a failure | Larry Elliott | World news | The Guardian Continue reading Greece’s bailout is finally at an end – but has been a failure | The Guardian
The IMF reached a staff-level agreement Thursday to offer Argentina, which requested aid last month when its currency hit an all-time low, a $50 billion loan as part of a three-year standby … Continue reading Argentina bailout: $50 billion loan, biggest in IMF history
In many countries, the richest 1% have benefited disproportionately from economic growth in recent years, the IMF says. The IMF says fiscal policy is “a powerful instrument for ensuring inclusive growth and … Continue reading Inequality makes growth less sustainable, IMF says
The fund needs to have the courage of its convictions Again, the IMF’s research shows that its policy of forcing austerity on countries, especially with the EU, is the exact opposite of what it should be doing. Source: The IMF’s road to enlightenment Continue reading The IMF’s road to enlightenment
The island has become a target not only for rapacious vulture funds but also for exponents of Katrina-style “disaster capitalism.” Just because the residents of Puerto Rico can’t vote for members of … Continue reading Puerto Rico Needs Massive Emergency Aid Now—and an End to Austerity
Study says spending cuts have encouraged rise of robots and AI and heightened job insecurity, particularly for women How many more reports like this do we need before the EU stops forcing austerity on its member countries? Source: UN report attacks austerity budgets for growing inequality | Business | The Guardian Continue reading UN report attacks austerity budgets for growing inequality
A full 80% of 19th and early 20th-century buildings in the Greek capital have already been destroyed, and time is running out for what’s left. At what point will the devastation stop? … Continue reading Forget the Parthenon: how austerity is laying waste to Athens’ modern heritage
For years we’ve been told that only deep cuts can save our economy. Portugal’s socialist-led government has proved the opposite, say Guardian columnist Owen Jones Too bad other EU countries didn’t follow the same path. Source: No alternative to austerity? That lie has now been nailed | Owen Jones | Opinion | … Continue reading No alternative to austerity? That lie has now been nailed
France may look like the sick man of Europe, but Germany’s woes run deeper, rooted in mercantilist dogma The obsession with balanced budgets and suppressed wages has destroyed the rest of Europe, … Continue reading German model is ruinous for Germany, and deadly for Europe
Portugal’s economy has rebounded dramatically since its European Union bailout in 2011. Wages are up and unemployment down. What’s surprising is that this happened only as austerity was canceled. It’s the fact … Continue reading Portugal Basks In Post-Bailout Economic Revival : Parallels : NPR
The fiction of financial constraint perpetuated by the budget allows authority figures to treat us like children – but it’s time we understood the facts The government doesn’t operate like a household budget. Every penny the government spends but doesn’t take back in taxes is equal to every penny the private sector, … Continue reading Why do politicians continue to push the zombie creed of austerity?
