Tag: banks
TUC begs for partnership
TOMORROW the Tory chancellor, George Osborne, will be presenting before parliament his last budget before the general election on May 7 – a budget...
World Dollar Debt Crisis!
YET another authoritative report detailing the developing world banking crisis has surfaced – a report which if shorn of its dry academic language paints...
‘ECB STILL HOLDING ROPE AROUND OUR NECKS!’ says the Syriza leadership
THE Eurogroup’s President Jeroen Dijsselbloem said on Tuesday that unless the Greek government implements immediately the promised ‘reforms’ – that is austerity measures –...
Austria now Europe’s ‘Lehman Brothers’ nightmare
A ‘LEHMAN BROTHERS debt crisis’ in the heartland of Europe is how the news that a major Austrian bank collapsed last week was described...
Bank of England suspected of serious fraud!
THE Bank of England this week was revealed to be under investigation by no less than the Serious Fraud Office. Founded in 1694, the Bank...
Bank of England – Serious Fraud Office investigation!
THE Serious Fraud Office (SFO) is investigating allegations that the Bank of England rigged the way that money was ‘auctioned’ to banks during the...
Benefit Sanctions Are Starving Children!
100,000 children were left to starve last year as a direct result of the Tory-led coalition’s drive to cut benefit payments to the unemployed...
Germany signs austerity ‘deal’ – as Greek workers riot
THE GERMAN parliament voted yesterday to extend the ‘bailout package’ to Greece by another four months, while in Greece workers erupted on the streets...
Syriza trying to carry on from where the former government left...
SYRIZA policy going into the general election, through which it came to office, was to write off most of Greece’s 322bn euro debt. It demanded...
Greek workers must build their revolutionary leadership
THE fact that the Greek working class brought Syriza from nothing to power, in the course of one general election, has been correctly taken...
Syriza Submits To Troika
THE Greek government decided on Saturday to accept all terms laid down in a statement agreed at last Friday’s Eurogroup Finance Ministers’ meeting that...
Carry Out Pledges – Demand Greek Workers
THE Greek Finance Minister has sent a letter of capitulation to the EU’s diktats, dated Wednesday 18 February 2015. It was sent to Eurogroup President...
CAMERON ATTACKS THE SICK AND GPs OVER ‘SICK NOTE CULTURE’
AS FAR as this reactionary coalition government is concerned, anybody who is sick for more than four weeks in a year is probably engaging...
Oborne Quits Telegraph – – Calls For Independent Review Of Its...
THE chief political commentator of the Daily Telegraph, Peter Oborne, who resigned from the newspaper on Tuesday, yesterday called for an independent review of...
Failing Universal Credit proceeds!
THE disastrous Universal Credit scheme, despite being lambasted by the National Audit Office for wasting tens of millions of pounds of taxpayers...
Syriza Discussing Keeping Austerity Memorandum
THE Greek government’s proposals for a new agreement over the terms of the bail-out loan of 240bn euros were discussed at this week’s Eurogroup...
‘NOT ONE STEP BACKWARDS!’ – Greek workers demand of Syriza
OVER 40,000 Greek workers, many with their families, shop-keepers, professional people and youth rallied at the central Athens Vouli (Greek parliament) square calling on...
Greek Crisis Set To Explode Under Eu!
GREECE’S Syriza government has drawn up its plan to renegotiate with the EU. Prime Minister Alexis Tsipras won a confidence vote on Tuesday evening,...
HSBC a repeat offender that will never change
IN September 2014 HSBC settled claims that it made false representations in selling mortgage bonds to the giant US mortgage companies Fannie Mae and...
First speech of Greek PM Tsipras
THE new Greek Prime Minister Alexis Tsipras made his first speech to the Vouli (Greek parliament) last Sunday night saying he would carry out...
Private Landlords enjoy subsidies while evicting the poor
IN the 1950s and 60s, the name Peter Rachman became synonymous with ‘slum landlord’ and the brutal methods used to drive out tenants whose...
Capitalism sinking under $199 trillion of debt
A MAJOR report by the McKinsey Global Institute exposes the historic depth of the crisis gripping the world capitalist system, a debt crisis of...
‘We will not be blackmailed’–Athens workers
SOME 10,000 workers and their families gathered outside the Vouli (Greek parliament) last Thursday evening in Athens in protest against the European Central Bank’s...
‘REOPEN ERT STATE TV!’ –Greek workers demand of Syriza
The sacked ERT state TV and radio workers’ union POSPERT has called a mass rally in Athens for Wednesday 11 February. They are demanding that...
Syriza Begins T0 Swing To The Right!
GREEK Prime Minister Alexis Tsipras has said he is confident that agreement can be reached with creditors over the repayment of ‘Greece’s debts’,...
Germany dives into deflationary spiral
THE crisis of world capitalism continues to batter the economies of the eurozone into the ground with virtually every day bringing forth yet more...
Carney urges united action by the bourgeoisie of Europe
IN his speech in Dublin on Wednesday, Bank of England Governor Carney delivered a warning to the EU – as Greek shares collapsed on...
Greek working class delivers blow to EU capitalism
THE victory of Syriza in the Greek election represents a huge blow by the Greek working class against European capitalism. Syriza, the coalition of the...
Syriza Victory!
SYRIZA swept to power yesterday in the Greek elections winning 149 seats, just two short of an absolute majority. After the final results came in...
Time for US workers to break with the Democratic Party
A NEW Gallup poll survey shows that 14% of American households describe poverty wages and the cost of healthcare as their most important financial...
The last-ditch attempt to save the euro and head off revolution
ON Thursday the European Central Bank (ECB), after months of prevarication and splits within its ranks, finally took the decision to launch the eurozone’s...
EU to throw 1.26 trillion euros at the banks
EUROPEAN Central Bank chief Mario Draghi yesterday launched the bank’s ‘expanded asset purchase programme’, to buy bonds from banks to try...
Tunisians march on fourth anniversary of revolution!
TUNISIANS on Wednesday marked the fourth anniversary of the revolution that toppled strongman Zine al-Abidine Ben Ali and sparked a mass wave of protests...
The currency crash and the socialist revolution
THE decision by the Swiss National Bank (SNB) to abandon its three-year cap on the franc last Thursday has had an immediate and catastrophic...
Swiss National Bank puts the skids under the euro
DEFLATION ran amok yesterday as Tullow Oil wrote off $2.2bn (£1.45bn), a direct result of the oil price collapse after the World Bank warned...
Answer NHS crisis with general strike and occupations
THIS week saw the crisis in the NHS reach breaking point with at least 17 hospitals in England declaring they faced a ‘major incident’...
Blind leading the blind at BofE!
A MONTH before the start of the 2007 financial crash, the Bank of England was completely unaware of the impending biggest disaster in the...
World crisis deepening to explosion point!
JAPANESE stocks led big falls across Asia on Tuesday, posting their biggest drop in nearly 10 months, as investors became hysterical about falling oil...
Miliband’s ‘fight door-to-door’ bombast has no answers for workers and...
ED MILIBAND kicked-off Labour’s election campaign yesterday with a speech full of bombast and empty promises, but which has at its core the main...
Greek workers on the march to socialist revolution
THE Greek working class, Greek youth and the majority of the middle class and the small farmers have battled the EU imposed austerity programmes...
Tory-type austerity is now Ball’s centre ground
WRITING in the Guardian this week, Labour shadow chancellor, Ed Balls, made it clear that the Labour leadership’s economic policy consisted solely of moving...
MANIFESTO FOR 2015 – The Year for World Revolution
THE News Line editorial board sends its revolutionary greetings, as we enter the new year of 2015, to the working people of the world. We...
Greek vote provokes revolutionary crisis
YESTERDAY''S Greek presidential vote heralds the start of a fresh eurozone crisis that threatens to bring down the Eurozone and with it the whole...
Mass Demonstrations Continue In Haiti
MASS demonstrations continued in Haiti on Xmas eve demanding the resignation of President Michel Martelly and that elections be held. The Haitian parliament’s mandate runs...
Saudis oil war is deepening the world crisis
SAUDI Arabia’s oil minister, Ali al-Naimi, has said the oil producers’ cartel, Opec, will not cut production even if the price falls to $20...