Alternatives

FROM THE ARAB REVOLUTIONS TO GLOBAL AUSTERITY

by Third World Network

3 May 2013

To highlight some of the complex dynamics and challenges of the IMF’s role in the Arab region, in a context of continuing popular uprisings that are calling for social and economic justice and for transforming the national development paradigm, and to link it to the waves of austerity across Europe, the US and other regions, a panel discussion titled “From the Arab Revolutions to Global Austerity,” was held on the sidelines of the spring meetings (19-21 April) of the IMF and World Bank. More

KEY ISSUES IN THE ORGANIZATION OF AND GOVERNMENT INTERVENTION IN FINANCE IN DEVELOPING COUNTRIES: LESSONS FROM RECENT EXPERIENCE

by Ylmaz Akyuz

2 February 2013

A fundamental question raised by recurrent fi-nancial crises in mature and emerging econo-mies is how to ensure that the financial markets and institutions serve growth and development rather than being a constant source of instability and disrup-tion in pursuit of self-interest. This is not only a ques-tion of how best to regulate the existing institutions and markets, but also how to restructure and organ-ize them. More

BATTLE TO SAVE UNCTAD’S MANDATE

by Martin Khor

19 April 2012

UNCTAD was set up in 1964 to support developing countries to strengthen their weak position in international economic structures, and to design national development strategies. In the past two decades, however, the developed countries have tried to curb the pro-South orientation of the UNCTAD secretariat and its many reports. More

MORE PAIN, NO GAIN FOR GREECE

by Mark Weisbrot, Luis Alberto Montecino

12 March 2012

New Paper Argues Greece Should Consider Default and Exit From Euro. It looks at Greece’s experience with “internal devaluation” and finds there’s a high risk of continued prolonged recession More

WE CONDEMN THE DISINFORMATION CAMPAIGN ON THE GREEK DEBT AND THE RESCUE PLAN BY PRIVATE CREDITORS

by Damien Millet, Yorgos and Sonia Mitralias, Eric Toussaint, Renaud Vivien (CADTM)

12 March 2012

For the CADTM, this new plan is a hoax: while claiming to rescue Greece it actually saves the day for private creditors though they are largely responsible for the Greek debt. More

GREECE: FOSTERING A STRATEGY TO TACKLE THE CRISIS

by Jorge Marchini

18 February 2012

The publication of the book “ Breaking up? A Route out of the Eurozone Crisis” is of great importance at this so critical moment for Europe. It is immediately apparent the commitment of the authors for not being neutral and distant specialists who write only for connoisseurs. Their work and contributions of exceptional quality respond to the challenges facing today a troubled society that requires with its outcry and mobilization immediate responses and proposals. More

GREECE- PROTESTS ESCALATE.

by News Agencies

12 February 2012

Mobilisations that began Friday, February 11th, throughout the country continue on Saturday, on the second day of a general strike with the participation of both the public and private sector. More

LIVING IN DEBTOCRACY. DEBT IN THE NORTH: LEARNING FROM THE SOUTH - 7TH AND 8TH OCTOBER IN MADRID

by Network for the Abolition of External Debt and the Recognition of the Ecological Debt - Who owes whom?

24 September 2011

The meeting "Living in debtocracy: Debt in the North: learning from the South" will seek to provide keys to understand and tackle debt and the current economic crisis we are suffering. IES Lope de Vega - Calle San Bernardoo 70 (esquina calle Daoíz 4) More

IRELAND: THE SOCIALIST SOLUTION TO THE CRISIS

by Ireland: Socialist Workers Party - SWP-

14 November 2010

These cuts will only throw the country back into an even deeper recession - putting ever greater numbers of people onto the dole. All of which begs the question: What is the alternative? More

EUROZONE CRISIS IS SELF-INFLICTED

by Mark Weisbrot

28 May 2010

The populations now suffering under EU-imposed austerity must have a real and credible threat of leaving the euro More

UNEMPLOYMENT COMPENSATION: A BROKEN SYSTEM

by Marianne Hill

7 October 2009

Shifts in employment patterns and a tightening of eligibility requirements are behind the nationwide reduction in effective unemployment insurance coverage. More

G-20 MEETING IN PITTSBURGH : CASINO CAPITALISM AS USUAL

by Mark Engler

3 October 2009

he Group of 20 (G20) meeting in Pittsburgh (Sept. 24-25 2009) brought together leaders from the most significant players in the global economy. Unfortunately, the changes left off the table at the summit were far more significant than the modest reforms actually debated, and the few alterations that did make it into the final agreement are likely to be further watered down in implementation. More

BANK OF THE SOUTH IS FORMALIZED

by News Agencies

29 September 2009

Presidents of Argentina, Brazil, Bolivia, Ecuador, Paraguay, Uruguay and Venezuela signed on September 26th. the foundational document on the sidelines of the Africa-South America Summit in Margarita Island, Venezuela, last night, after almost four years of attempts to form a regional financial institution. More

UNITED STATES- UNEMPLOYMENT COMPENSATION: A BROKEN SYSTEM

by Marianne Hill

24 September 2009

Lower-income families have fewer assets to see them through rough economic times, and their extended families are also hard-pressed as demands upon them increase. More

THE FINANCIAL CRISIS ONE YEAR ON

by Jayati Ghosh

18 September 2009

Today there is talk of recovery everywhere, even in currently recessionary Europe and certainly in the US. So was the emergency response successful? And have policy makers learned the important lessons from the crisis? More

WHICH IMF DO YOU WANT?

by Roberto Bissio

2 September 2009

Technical or political, friendly or heated, these debates have explored all the aspects of the tumultuous relationship between the IMF and Latin America, except for one: What Fund do we want? How should we reform the Fund, if we could? More

THE END OF RETIREMENT?

by Sam Gindin

17 August 2009

The attack on private sector pensions is not new; while the process has been uneven across time and sectors, private pensions in the U.S. and Canada have been eroding for over a quarter of a century. More

BERNANKE’S BAD TEACHERS

by Gerald Friedman

11 August 2009

Bernanke closed his 2002 remarks with a promise. “Let me end my talk,” he said, “by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” More

WORLD BANK VOICE AND REPRESENTATION: THE MOMENT OF TRUTH

by Eurodad

6 August 2009

Another time around the issue of World Bank voice and representation is back on the agenda. Since the beginning of the decade, the voice and vote issue keeps re-emerging - swinging from the centre of attention to its margin - but no resolute decision has been taken throughout these years. More

US BANK BAILOUT TO COST $23.7 TRILLION

by Andre Damon

22 July 2009

The federal government’s bailout of Wall Street may cost $23.7 trillion, according to a statement given to Congress Monday by the lead overseer of the Treasury’s bailout program, Neil Barofsky, special inspector-general for the Troubled Asset Relief Program (TARP). More

SOME USD 5 TRILLION ON FINANCIAL SUPPORT SINCE THE CRISIS BEGAN, BUT ALMOST NOTHING HAS REACHED THE MOST VULNERABLE COUNTRIES

by Ambrose Evans-Pritchard

22 July 2009

Supachai Panitchpakdi, head of the UN Conference on Trade and Development (UNCTAD), said that Capital flows to poorer states and export earnings have together collapsed by USD $2 trillion since the credit crunch began. "This is an alarming trend, and it’s not a result of their own doing." More

STAGES IN THE NEW DEBT DEFLATION FISHER-MINSKY CRISIS

by Arturo Guillén R.

19 June 2009

The global crisis is the most important capitalist crisis since World War II. It is a new type of debt-deflation crisis, highlighting the limits of the finance-dominated regime of accumulation in place since the 1980s and characterized, among other things, by securitization, that is, a financing regime based on issuing securities and derivatives. More

ARE EASTERN EUROPE PROBLEMS GOING TO SPILLOVER?

by Nouriel Roubini

11 June 2009

The collapse of the Thai baht in July 1997 helped spark the Asian financial crisis. Could events in Latvia spawn a similar contagion? Eyes are focused on this small Baltic economy—amid growing talk of a devaluation—because of the potential for spillover effects into its fellow Baltic states, Sweden and the broader Eastern European region. More

SOUTH AMERICAN TRADE AND CURRENCY VOLATILITY

by Tony Phillips

9 June 2009

Latin America is rich in real terms, however its financial infrastructure is primitive. This means that many national and international transactions pass unnecessarily via northern financial centers, sometimes requiring two hard currency conversions from buyer currency to dollar to seller currency. More

LATIN AMERICAN LEADERS ARE CALLED TO PARTICIPATE IN UPCOMING UNITED NATIONS CONFERENCE ON THE WORLD CRISIS (G-192)

by Social Movements

29 May 2009

Social movements of Latin American send and Open Letter to Heads of State encouraging their participation in the upcoming celebration in New York, June 24 to 26, of the United Nations’ Conference on the Developmental Impacts of the Financial and Economic Crisis. More

UN SUMMIT ON FINANCIAL CRISIS DELAYED UNTIL LATE JUNE

by News Agencies

27 May 2009

The UN Conference on the World Financial and Economic Crisis and Its Impact on Development was originally slated to be held on June 1-3, with an aim to find a common and lasting solution to address the ongoing financial and economic crisis of the world. More

CHALLENGES AND POSSIBILITIES: LEARNING FROM ALBA AND THE BANK OF THE SOUTH

by Martin Hart-Landsberg

22 May 2009

Three trends are highlighted : the failure of neoliberalism, the growing crisis of the East Asian model, and South American efforts to shape as well as advance an alternative development vision. It concludes with a brief discussion of responses to the challenges generated and possibilities afforded by these trends, highlighting six lessons for those working to build a more egalitarian, democratic, and sustainable world More

EUROPEAN SOCIAL ORGANIZATIONS CALL FOR NEXT JUNE 1-3 UNITED NATIONS SUMMIT (G- 192)

by European Cross-Sectoral Network on the Combined Crises

14 May 2009

A call to UN Conference on the World Financial and Economic Crisis and its Impact on Development (1- 3 June 2009), and especially the European leaders attending the event to focus on reforms that directly benefit people and the planet. More

PRESIDENT OF UNITED NATIONS GENERAL ASSEMBLY REJECTS EUROPEAN CRITICISM TO G-192 DECLARATION ON CAPITALIST CRISIS

by OID-IDO

13 May 2009

The President of United Nations General Assembly, Miguel D’Escoto, criticized European countries for rejecting without justification the draft for a declaration of the world leaders Conference on the World Financial and Economic Crisis (G-192) to be hold in New York from June 1 to 3 to debate and propose alternatives to the international crisis. More

TAX HAVENS AND THE FINANCIAL CRISIS

by Rachel Keeler

11 May 2009

Over the years, trillions of dollars in both corporate profits and personal wealth have migrated “offshore” in search of rock bottom tax rates and the comfort of no questions asked. From offshore havens to financial centers, banking secrecy faces scrutiny. More

AUSTRALIA: WHEN CASHED-UP IMF OFFERS TO HELP, STEER WELL CLEAR

by Ross Buckley

5 May 2009

Make no mistake, the worst of the global crisis is still before us.This collapse in trade and capital flows will seriously damage the fragile economies of poorer countries. More

CONCERNS: UN CONFERENCE ON WORLD CRISIS (G192)

by François Houtart

4 May 2009

Letter to Social Movements, Non-Governmental Networks and Intellectuals. Facing the systemic and global crisis, the G20 has presented a series of measures, without consulting the majority of the countries of the world. More

ECUADOR AT THE CROSSROADS

by Eric Toussaint

30 April 2009

The coming months will show whether Ecuador’s government can take the necessary measures to face the consequences of the international crisis which is deeply affecting the Ecuadorian population More