By Ann Pettifor. An edited version of this piece was published on Left Foot Forward, 14 September, 2011. This original, longer version posted 19 September, 2011. The game is up. The 2007-9 private banking crisis that started with the unpayable debts of the US sub-prime sector, was never over. The crisis has now moved on […]
The age of liberal finance over. The left’s Plan B? Read More »
So, five of the world’s biggest central banks have decided on co-ordinated action to bail out – once again – the European private banking sector. In other words, central bankers are hoping to shore up private bankers, help their defer their losses, and prevent them being disciplined by market forces for their reckless lending to
Unemployment poster ‘jobless men keep going, we can’t take care of our own’, 1931. We write to encourage you – to urge you on in your resistance. In your defiance, you understand Greece is slave to the interests of private wealth. You must understand too that it is private wealth that needs Greece. Greece does
An open letter to the people of Greece: restore the Drachma Read More »
Irish Finance Minister Noonan and Luxembourg Treasury Minister Frieden attend an EU finance ministers meeting in Brussels. Image source: www.reuters.com I find it hard to write about the crisis in Greece….because the tragedy unfolding there is so reminiscent of the tragedies that unfolded in Africa, Latin America and South East Asia in the 80s and
Bankers: draining funds from taxpayers courtesy of finance ministers Read More »
Apropos the last post: we dissidents are not alone. Have belatedly come across David Malone’s excellent post (written earlier but somehow missed by me) on the same theme – the airbrushing of the financial crisis from all political discourse. David goes further and highlights the implications for democracy and the rule of law. I hope
By surrendering key economic levers to Brussels, Frankfurt and Washington, George Papandreou has hollowed out Greece’s democratic system. Will the Greeks fight to regain their independence?
By Ann Pettifor – Posted March 16th on Labour List Together with the Prime Minister of Greece, Mr. George Papandreou, I am going to give evidence to the EU’s Special Committee on the Financial Crisis in Brussels this Thursday, March 18th. So today’s leaked report from the EU, arguing that Labour’s plans for cuts to
Why the EU’s leaked document has got me in a rage Read More »
4th March 2010 With Saturday’s Iceland referendum due in just a couple of days (6th March), Advocacy International’s directors have an op-ed article critical of the UK and Netherlands governments in today’s Morgunbladid, Iceland’s main daily newspaper. English version> Icelandic version> Press release> Full text of the article: So the negotiations have broken down, British
3rd March 2010 If today’s speculators bring down the Greek economy, they will likely blow up more debtor nations, and then in a cascading effect, turn on their main benefactors, the now heavily indebted British and United States governments. Citizens are rightly angry at the way both the Bush and Obama administrations, aided by Governor
Ann Pettifor: September 24, 2009 As world leaders meet in Pittsburgh and then Istanbul (for the World Bank and IMF meetings) expect much self-congratulation and back-slapping for having got the world through the post-Lehman crisis. But behind the cacophony of self-praise, watch out for three alarms flashing red: The escalating foreclosure and rising mortgage delinquency
