Europe Solidaire Sans Frontières
CADTM : Are we witnessing a crisis
This is a major crisis of the globalized capitalist system, the worst crisis since those of the years 1914-1945
Éric Toussaint : Yes. All the warning lights are flashing: there is a very significant economic slowdown (stagnation in the Eurozone in the (...)
Stock markets are jumping back up today. It seems that financial investors think the monetary authorities and banking supervisors have got the banking crisis under control. That could be wishful thinking.
The banking crisis of 2023 is not over yet. The Californian ‘tech’ bank Silicon (...)
The banking industry has been beset by a series of failures, government bailouts, and takeovers. The crisis in these banks has sent stock markets around the world into gyrations. What caused all of this? Is this a passing crisis? What impact will it have on the real economy? Spectre’s Ashley (...)
Since Sunday, 19 March 2023, it has been clear that the ailing Swiss bank Credit Suisse will be taken over by its competitor UBS. However, this new monster colossus has only come about because once again the Swiss state is stepping into the breach and thus the wage earners are being obliged by (...)
New research shows that companies are shifting record amounts of their profits to tax havens, despite a global effort to crack down on the practice.
About a decade ago, the world’s biggest economies agreed to crack down on multinational corporations’ abusive use of tax havens. This resulted (...)
A world war was declared on 7 October. No news station reported on it, even though we will all have to suffer its effects. That day, the Biden administration launched a technological offensive against China, placing stringent limits and extensive controls on the export not only of integrated (...)
Last week, one of the world’s biggest cryptocurrency exchanges collapsed in spectacular fashion after accusations of improper handling of funds triggered a good old-fashioned bank run. Once valued at more than US$30 billion, the Bahamas-based firm FTX is now on the brink of collapse. This (...)
The world economy is mired in a crisis of stagflation not seen since the 1970s. Economies are slowing or in recession, central banks are jacking up interest rates in an attempt to control inflation, and workers and oppressed people are yet again bearing the cost of the crisis and alleged (...)
Welcome to an era of two parallel worlds in global business.
Speaker Nancy Pelosi’s visit to Taiwan has elicited a strong response from China: three days of simulated attack on Taiwan with further drills announced, plus a withdrawal from critical ongoing conversations with the US on climate (...)
This text was one of three presented to open a discussion on the international situation at the February 2022 International Committee meeting and which we agreed will together form the basis for our future elaboration.
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1. Persistence of a health crisis with uneven effects (...)
This logistical model is the engine of breakneck capitalism. But its fragility is now being exposed.
A price shock on the global natural gas markets brings down several small energy providers, leaving customers without heating and facing rising fuel prices. A fire knocks out the huge cable (...)
Zhu Jun from the People’s Bank of China says the risk is small, but the world must be alert to the threat. Economies around the world have been hit by the measures taken to stop the spread of Covid-19.
China’s central bank has warned the international community to be alert to the risk of a (...)
In a Le Monde op-ed, economist Cédric Durand and sociologist Razmig Keucheyan argue that underinvestment in hospitals, the fragilities of globalization, support for banks rather than wages, and the oil price war, have combined to trigger the current crisis
The chain of events that the world (...)
We are witnessing a big crisis in the stock markets of the Wall Street, Europe, Japan and Shanghai, and many blame the coronavirus for it. In the last week of February 2020, the worst week since October 2008, the Dow Jones fell 12.4%, the S&P 500 fell 11.5% and the Nasdaq Composite fell (...)
Francisco Louçã is an economist especially known for being one of the founders and leaders of Bloco de Esquerda (Left Bloc) in Portugal. He is the author, with Michael Ash, of Shadow Networks: Financial Disorder and the System that Caused Crisis, Oxford: OUP, 2018.
While visiting Madrid and (...)
With the announcement today, January 16, 2020 of the signing of the US-China Phase 1 ‘mini’ trade deal, and the US Senate’s simultaneous ratification of the USMCA ‘NAFTA 2.0’ trade agreement, Trump’s so-called ‘trade wars’ are at an end.
In election year 2020 nothing of additional (...)
After their 1944 birth at a New Hampshire hotel, the International Monetary Fund (IMF) and World Bank turned 75 years old this year, long past a reasonable retirement age. For the sake of global financial management, most reformers’ hopes rest in changing the character of the Bretton Woods (...)
While some economists claim that the world economy is heading towards long-term stagnation, others claim that what we are seeing is a short cycle. Analysts of the world economy are divided between those who foresee a recession and those who think it is just a question of controlling a (...)
Escalating tensions between Washington and Beijing do not yet constitute a new cold war. But they signal an important shift in US policy. From the 1990s—orchestrating China’s entry into the WTO, guaranteeing its dollar assets at the peak of the financial crisis—the emphasis had been on (...)
Prefatory Note:The following post contains my responses to questions posed by Sputnik News Agency a few days ago. The effort to warn European countries not to use equipment from the Chinese telecom giant, Huawei, is part warning and part threat. It claims to be a matter of security, but seems (...)
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