Tag: banks
Nationalise The Banking System To Put An End To Capitalism
THE credit ratings agency Moody’s has downgraded 15 global banks and financial institutions. The UK banks downgraded were Royal Bank of Scotland, Barclays, HSBC and...
LEON TROTSKY’S ‘WHITHER FRANCE?’ TODAY Part 3: A Programme of Action...
THE election results from May 6th in Greece and France show that the working class will use every opportunity to fight against paying for...
‘The attack on pensions is an attack on the NHS!’
Over 50 doctors and their supporters organised a demonstration outside the Royal London Hospital in Whitechapel, East London yesterday during their strike over major...
LEON TROTSKY’S ‘WHITHER FRANCE’ TODAY Part 2: Neither ‘austerity’ nor ‘growth’...
AFTER governments across Europe either took over debt-laden banks, or the debts of the banks, in 2008 they demanded ‘austerity measures’ to repay the...
LEON TROTSKY’S ‘WHITHER FRANCE’ TODAY – 1. European capitalism gripped by...
A REVOLUTIONARY situation exists in Europe today as a result of the world capitalist crisis. Social Democratic/Labour and Stalinist reformists, and revisionists, may scoff at...
World crisis of capitalism dominates
The world crisis of capitalism is asserting itself with a vengeance, defying every attempt by governments and the world financial system to bring it...
‘There could be a Lehmans moment!’ – World Bank warning
AS GREEK workers went to the polls yesterday, bourgeois commentators were warning of a ‘widespread contagion’ or even an ‘asteroid strike’ of an economic...
Weak Osborne declares ‘We are not powerless’ – as he demands...
Chancellor Osborne and Bank of England Governor King announced a massive £140bn emergency stimulus package for ailing British capitalism on Thursday night. Both were speaking...
‘We will save Egypt from military rule!’
CROWDS marched to Cairo’s Tahrir Square again yesterday after the April 6 movement called for a protest starting at 5.00pm (1500 GMT) ‘against the...
King Fiddling While Rome Burns!
THE GOVERNOR of the Bank of England, King, spoke to the gathered ranks of big business on Thursday evening at his Mansion House feast,...
Greece must be sacrificed – Osborne dons his butcher’s apron!
CHANCELLOR Osborne was in the mood for sacrifices on Tuesday and as is his way, the way of the British bourgeoisie, these sacrifices were...
‘We will negotiate with EC’ says Tsipras
THE Greek leader of the Coalition of the Radical Left (SYRIZA) Alexis Tsipras in an interview with the Athens left daily Avgi on Sunday...
Balls Stands Up For Rescuing Capitalism
GMB leader Paul Kenny has told delegates to the GMB conference that the GMB wants a greater say in Labour’s policy making process. The truth,...
SPANISH BANK BAILOUT WILL NOT HELP IRELAND says Finance Minister Noonan
THE Eurozone has agreed to lend the Spanish banks up to 100bn euros without demanding any austerity measures after Spanish Economy Minister...
Political crisis in Europe
The political crisis for the European bourgeoisie deepened yesterday following the results of exit polls at the end of the first round of voting...
100bn euros for Spanish banks! – 21,000 euros of new debt...
THERE was fury across Spain yesterday after prime minister Mariano Rajoy hailed a eurozone ‘lifeline’ of up to 100 billion euros ($125 billion) to...
Tsipras Says ‘No’ To Mass Sackings Of Civil Servants
LEFTIST SYRIZA leader Alexis Tsipras addressed a crowd of party supporters in Sparti, in the Peloponnese, on Thursday night. Tsipras said that his party would...
We Are Approachng A Moment Of Truth Says Osborne
KARL MARX was able to show that one of the fundamental contradictions of the capitalist system was the conflict between the need of the...
BERNANKE READY TO ACT – to print hundreds of billions more...
US Federal Reserve chairman Ben Bernanke said yesterday that he is ‘ready to act’ on the US economy, hinting that the US is about...
MERKEL DEMANDS POLITICAL UNION! –as the price for Spanish bailout
THE Bank of England yesterday left UK interest rates unchanged at 0.5 per cent and announced no expansion to its quantitative easing (QE-printing money)...
Panic reigns supreme under bankrupt capitalism
THE sense of panic and of impending doom is running wild amongst the international banks and the world bourgeoisie as they are forced to...
The Jubilee turns sour as capitalism crashes
THE Jubilee ‘celebrations’ have turned out to be a petty, momentary diversion for sections of the middle class, away from the real drama...
G7 panics over Eurozone!
Financial leaders of the G7 group of industrialised nations held an emergency ‘teleconference’ on the worldwide economic crisis yesterday. Canada’s Finance Minister, Jim Flaherty, warned...
Dire warnings for Europe!
BILLIONAIRE financial speculator George Soros warned yesterday that the German economy is going to totter in the Autumn, when the crisis will ‘come to...
Greek Workers Need Revolutionary Party!
TWO weeks before the Greek general election, due on June 17, Alexis Tsipras the leader of Coalition of the Radical Left (SYRIZA) last Friday...
Banks New Quantitative Easing Fears
PRESSURE is mounting on the Bank of England’s Monetary Policy Committee (MPC) to consider another round of emergency Quantitative Easing (QE – printing money)...
Eurozone is unsustainable!
THE head of the European Central Bank (ECB), Mario Draghi, has pronounced the Eurozone to be ‘unsustainable’ in its present form, while the EU...
UNSUSTAINABLE! – says EU Central Bank President Draghi
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...
Media workers demand indefinite general strike
GREEKjournalists, printers, technicians and media office workers staged a 100 per cent successful national strike on Monday against wage cuts and mass sackings, demanding...
Lloyd’s pulls the plug on Europe
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 braced for euro collapse!
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...
Statement by the Revolutionary Marxist League –Greek Section of the International...
• No to the destruction of collective agreements! • Down with the EC-IMF austerity measures Accords! • Withdraw from the EC and NATO! •...
IMF Declares UK Economy going bust
The head of the International Monetary Fund (IMF), Christine Lagarde, issued the gravest warning yet on the state of the UK economy on Tuesday,...
Greek conservatives build ‘front against populism’
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...
Eurozone Crisis Spirals Out Of Control
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...
Cameron to ‘Keep capitalism safe’ with more savage attacks on workers!
ON Wednesday, King, the governor of the Bank of England, said of the developing crisis in the eurozone that his Monetary Policy Committee believes...
Eurozone ‘tearing Itself Apart’
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...
British capitalism and its state – poisonous, rotting and ripe for...
THE CRISIS of the British capitalist state has been highlighted by the News International scandals which will do for the British ruling class what...
British Capitalism Gets The Shakes Over Eu Crisis!
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...
German election crisis for 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...
400,000 Stop Work In Massive Pensions Strike!
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...
The Spectre Of Revolution Stalks Europe Says Farage
IT was Karl Marx who in 1848, two months before the February revolution erupted in France, began the Communist Manifesto with the words ‘A...
Terms Of Greek Bail-Out ‘No Longer Apply’
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...
Left Asked To Form Greek Government
FOLLOWING the failure to form a government by the leader of the Greek Tories, Antonis Samaras, the leader of the Coalition of...
Greek General Election Fury!
WORKERS and youth in Greece are set to deliver the biggest electoral blow ever this Sunday against the two main capitalist parties, the conservatives...