Tag: banks

EUROPEAN Central Bank (ECB) president Mario Draghi yesterday warned eurozone leaders that current financial mechanisms are ‘unsustainable’. Addressing the European Parliament, Draghi asked: ‘Can the...

GREEKjournalists, printers, technicians and media office workers staged a 100 per cent successful national strike on Monday against wage cuts and mass sackings, demanding...

NOT just Greece but the Eurozone and, by extension, the whole of Europe is a financial basket case that is heading inexorably towards a...

LLOYD’S of London has made preparations for the collapse of the euro. Richard Ward, its chief executive, has publicly admitted that the world’s...

• No to the destruction of collective agreements! • Down with the EC-IMF austerity measures Accords! • Withdraw from the EC and NATO! •...

The head of the International Monetary Fund (IMF), Christine Lagarde, issued the gravest warning yet on the state of the UK economy on Tuesday,...

The Greek conservatives New Democracy party is building up a ‘pro-European front against populism’ with the aim of defeating the Coalition of the Radical...

THE EUROZONE crisis was finally, officially recognised as the time bomb that will bring down the entire capitalist banking system at last weekend’s meeting...

ON Wednesday, King, the governor of the Bank of England, said of the developing crisis in the eurozone that his Monetary Policy Committee believes...

BANK of England Governor King admitted yesterday that risks to the UK economy from ‘difficulties facing the euro area’ are ‘impossible to quantify’. King was...

THE CRISIS of the British capitalist state has been highlighted by the News International scandals which will do for the British ruling class what...

UK Chancellor George Osborne lashed out at Germany’s ‘Iron Chancellor’ Merkel before the meeting of EU finance ministers in Brussels yesterday. He attacked Merkel...

The economic and political crisis in the Eurozone countries is now firmly expressing itself in Germany, the dominant capitalist nation in Europe and the...

THE government’s claims about numbers of civil servants on strike over pensions are wildly inaccurate, the Public and Commercial Services union has insisted. Nearly...

IT was Karl Marx who in 1848, two months before the February revolution erupted in France, began the Communist Manifesto with the words ‘A...

THE leader of the Coalition of the Radical Left (SYRIZA) Alexis Tsipras stated on Tuesday ‘the expression of the public’s will has made the...

FOLLOWING the failure to form a government by the leader of the Greek Tories, Antonis Samaras, the leader of the Coalition of...

WORKERS and youth in Greece are set to deliver the biggest electoral blow ever this Sunday against the two main capitalist parties, the conservatives...

ON Wednesday night, the outgoing governor of the Bank of England, Mervyn King, delivered a speech that amounted to little more than an extensive...

MAY DAY STATEMENT BY THE NEWS LINE EDITORIAL BOARD THE Editorial Board of the News Line sends its revolutionary greetings to the workers of the...

The first round of voting in the French presidential election, held last Sunday, produced an unprecedented defeat for the incumbent Nicolas Sarkozy and his...

The present unelected Greek coalition government, of social-democrats and conservatives headed by banker Lucas Papademos has decided to fund with some 50bn euros the...

THE European banks are heading at speed into a crash that will bring down not just the economies of the 17-nation Eurozone but the...

INFLATION may stay above 3% during the rest of this year, according to Paul Tucker, a deputy governor of the Bank of England. He...

SOARING food and clothing prices saw the Consumer Prices Index (CPI) inflation rate measure for March rising to 3.5% from 3.4% in February. The Office...

The news yesterday that the cost of borrowing for Spain has jumped to over 6% will inevitably mean that for the country to stagger...

THE Hewletts came straight to the point yesterday over the plan to close Chase Farm hospital. ‘We should sack Lansley and the whole government to...

IT is one of the features of the capitalist crisis that it proceeds not in a straight line but through a downward spiral movement...

THE Spanish government is to cut 27bn euros (£22.5bn) from its budget this year. Among the measures are the freezing of public sector...

THIS IS the message that is coming out of the Bradford West by-election where Respect candidate George Galloway was ‘unexpectedly’, out of the blue,...

THE row over the Tories so-called ‘pasty tax’ has become a dangerous diversion in the hands of the Labour leadership who are intent on...

Spain was gripped by a 24-hour general strike by millions of workers yesterday. It was called in protest against a new law making it...

UK economic growth for the last quarter of 2011 has been revised downwards to a 0.3% contraction, another body blow to those who had...

WEDNESDAY’S budget left no room for doubt about who the coalition government intends should pay to bail out the bankrupt British economy – pensioners,...

OSBORNE began his budget address yesterday by admitting the calamitous state of British capitalism saying that recovery would be ‘challenging’ since ‘we’ve had the...

Care homes are increasingly struggling to provide high quality care for residents with complex medical conditions, amid a backdrop of a severe lack of...

European finance ministers met in Brussels yesterday to rubber-stamp the deal agreed at the last minute last Thursday to bail-out the bankrupt Greek economy...

THE governor of the bank of England, Mervyn King, has launched a scathing attack on the major UK banks, accusing them of trying to...

THE Greek Prime Minister Lucas Papademos was in Brussels yesterday seeking final approval from Germany and France for Greece’s second bailout deal. Greece is continuing...

The British MP Denis McShane has given a serious warning about the situation in Greece. He said: ‘When I first visited Greece I saw...

SEVEN unions held a joint demonstration outside the Royal Courts of Justice on Monday against the government’s imposed changes in the way they calculate...

Yesterday six trade unions appeared at the Royal Courts of Justice to appeal against a High Court decision that the coalition government will slash...

Tens of thousands of workers and youth participated in yet another mass rally outside the Vouli (Greek parliament) in Athens yesterday, demanding the overthrow...

David Cameron has convened a summit at Downing Street this afternoon to discuss the ‘implementation of NHS reforms’ with a ‘range of national healthcare...

AFTER 2008, the masses of the world showed they were not about to give up all their hard-won gains so that the banks,...