Three years of austerity, four austerity budgets, and every year, every budget, the deficit and the crisis has gotten worse. The more they take out of the economy, the worse the crisis gets.
After a year and a half, the Greek debt crisis is far from resolved. In fact, with Greece on the verge of a social explosion, a default and exit from the euro appears almost inevitable. The eurozone is threatened by an interlocking
Yesterday the Government announced that it is going to establish NewEra, a body to manage the State’s shareholdings in semi state companies. The Minister for Finance said that the new entity would carry out ‘corporate governance’ of companies like the ESB, Bord
A spectre haunts Europe – the spectre of a default by Greece, Greece's subsequent exit from the eurozone and a break up of the eurozone. All the signs – economically and politically – are that key sections of the European establishment are
Right now in Ireland one in eight mortgages are in trouble. This represents 95,158 households which are in arrears or have already had their debt restructured. Of these mortgages in arrears 72% have been behind in payments for more than six months
With the prospect of a so-called double-dip recession looming in the world economy, pressure is once again mounting on the eurozone. The prospect of one or more countries opting out, or being forced out, of the eurozone is becoming increasingly real as
It was a question of ‘Walk, Walk’’ rather that ‘Talk, Talk’ as the telecoms/internet company of that name brutally consigned its workforce to the scrapheap the day before yesterday.
With hundreds of thousands of people in negative equity and struggling to pay their mortgages, the issue of revaluing peoples mortgages, or 'debt forgiveness' as the government have tried to brand it, has come up. Here Joe Higgins TD looks at the
Dublin’s Socialist Party MEP, Paul Murphy, who was assaulted by members of the Garda Siochana last week while taking part in a peaceful sitdown protest in Rossport, Co. Mayo, has called the decision to approve new exploration licenses to gas companies reprehensible.
Fear of recession in the US, its credit rating downgrade and political dysfunction, not to mention the ongoing eurozone crisis, Japanese stagnation and slowdown in China, have all led to convulsions on world stock markets. socialistparty.net reports.