Ann Pettifor

Globalisation

The architects of the Euro hung by their own petard

Dear readers…posted this last night, but  failed to add links…so have updated this morning….And now at 12.54 on 28 Nov, following revelations from Bloomberg, am adding in a reference to the extent that Morgan Stanley was bailed out in 2008. A petard, I am reliably informed by the Web, “was a bell-shaped metal grenade typically …

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The age of liberal finance over. The left’s Plan B?

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 …

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Capital flows, financial crises & implications for poor countries

Last month I was invited to join the ‘Labour Party Policy Review: Making growth work for the poor and generating resources for development’. The overall group was led by Harriet Harman, and the development section was chaired by Rushnara Ali MP. Below is my short background note on mobility of capital flows, financial crises & …

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Coming soon: another global financial crash? Capital mobility and the commodity mania

Tin produced at a Glencore plant in Vinto, Bolivia “Experience shows that when policies falter in managing capital flows, there is no limit to the damage that international finance can inflict on an economy.” Yilmaz Akyüz, “Capital Flows to Developing Countries in a Historical Perspective: Will the current Boom End with a Bust?” Today, as …

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After Iceland’s Referendum, What Next?

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 …

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A fair deal for Iceland

8th January, 2009 This piece appeared on the Guardian’s Comment site: “Today the people of Iceland, a country whose population, at 317,000, is somewhat smaller than Leicester’s, are required by the British political, financial and economic establishment to carry the full burden of the losses suffered by Landsbanki’s depositor programme Icesave. We consider this to …

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1945, government debt, bond markets, sterling – and all that.

27 October, 2009 I promised to explain – to Alastair, a reader of this blog –  the link made earlier between 1945 and today’s supposed government ‘debt crises’.  Sorry if its a little long – but a promise is a promise. I consider the scaremongering around government debt to be nothing more than an over-egged …

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How globalisation ends: Debtonation Day, plus two

From Open Democracy: August 13, 2009 “A single day, 9 August 2007, will go down in history as ‘Debtonation Day’ – the beginning of the end of the deregulation and privatisation of finance that marks the era of globalisation.” I wrote these words on 13 August 2007, in anticipation that the great stock-market collapse of …

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‘Radicaal? Dat is de crisis ook’

De Standaard:  Brussels 18th June, 2009. Interview:Ann Pettifor over de ‘Green New Deal’ — BRUSSEL – De westerse overheden moeten dringend de hand aan de ploeg slaan en de almacht van de financiële sector inperken. Dat vindt Ann Pettifor, econome en activiste. Van onze redacteur Weg met de banken, leve de overheid. Als je het …

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Green New Deal in the news

15th December, 2008 Last week there were several media pieces that mentioned the Green New Deal, including The Times, The Observer, and The Independent on Sunday. Also, UN Secretary General Ban Ki-moon has followed his colleagues at UNEP in calling for a Green New Deal. You can also read nef’s Green New Deal Round-up here.