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By Chris Abani

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Tag: Austerity

VIDEO: Chomsky on Greece: A ‘Savage Response’ for Standing Up to Austerity ‘Class War’

In an interview for “Democracy Now!” Noam Chomsky comments on the challenges faced by Greece’s leading party, Syriza.

Posted on Jul 1, 2015 READ MORE



Don’t Cry for Greece—Argentina Sets the Example for Surviving After Default

In Argentina, there’s a name for what Germany and other troika members who’ve attempted to profit from Greece’s austerity-induced suffering have become: “buitres,” the Spanish word for vultures.

Posted on Jul 1, 2015 READ MORE



Economists Krugman and Stiglitz on Why Greeks Should Vote ‘No’ on the Referendum

Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman maintain that Greece must keep going it alone and vote “no” on the upcoming referendum on the bailout.

Posted on Jun 30, 2015 READ MORE



Joseph Stiglitz, Thomas Piketty and Other Renowned Economists Demand an End to Greek Austerity

Twenty-six of the world’s most distinguished economic minds proclaimed their solidarity with Greece’s ruling anti-austerity party in an essay published in the Financial Times in early June.

Posted on Jun 12, 2015 READ MORE



Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success

Iceland’s insistence on following a different drummer after the global economic collapse is evidence that a more ethical approach can work.

Posted on Jun 11, 2015 READ MORE



A Magical Mystery Tour of American Austerity Politics

Numerous cities and school districts in Michigan are now run by single, state-appointed technocrats. This arrangement not only strips residents of their local voting rights but also gives appointees of the state’s austerity-promoting governor the power to do just about anything, including dissolve the cities themselves, all in the name of “fiscal responsibility.”

Posted on Jun 10, 2015 READ MORE



Look What Austerity Does to a Child’s Brain

The stressful conditions of poverty—“overcrowding, noise, substandard housing, separation from parent(s), exposure to violence, family turmoil”—can permanently diminish the ability to think clearly and calmly.

Posted on Jun 7, 2015 READ MORE



Five More Years of Tory Government: What Fresh Hell Is This?

Now free to pursue a radical agenda, David Cameron will lead Britain even further down the murky path of austerity, privatization, increased surveillance and jingoism.

Posted on May 8, 2015 READ MORE


Greek Finance Minister Says Austerity Is Bad Medicine

Greece’s new left-wing, anti-austerity Syriza Party raises concerns over international creditors’ demands to restructure the country’s labor market and curtail its pension system in exchange for a new package of bailout funds scheduled for release Friday. Greek Finance Minister Yanis Varoufakis speaks with “Democracy Now!”

Posted on Apr 22, 2015 READ MORE



442 Mental Health Experts Call for an End to Austerity

Austerity cuts and “neoliberal thinking” among policymakers are having a “profoundly disturbing” effect on Britons’ psychological and emotional well-being, say hundreds of counselors, psychotherapists and academics in a letter to The Guardian.

Posted on Apr 19, 2015 READ MORE



Greece Submits Reform Proposals and Warnings to Eurozone Creditors

Their country would stop cooperating with creditors if negotiations failed and aid was not forthcoming, government leaders said as they submitted a long-awaited list of 18 policy reforms to eurozone administrators.

Posted on Mar 28, 2015 READ MORE



House Republicans Approve $5 Trillion in Budget Cuts

House Republicans on Wednesday night passed a budget that eliminates nearly $5 trillion from social welfare programs over the next decade and envisions regressive tax reforms and calls for the repeal of President Obama’s health care law.

Posted on Mar 26, 2015 READ MORE



Brain Drain Is Crippling Eastern Europe

Ivan Krastev, chairman of the Center for Liberal Strategies in Sofia, Bulgaria, notes that economic austerity is driving away his country’s best and brightest.

Posted on Mar 25, 2015 READ MORE



Protesters Assail Austerity Policies at Madrid ‘Dignity March’

Thousands took part in a “march for dignity” and against austerity measures in Madrid on Saturday on the eve of a closely watched regional election in southern Spain.

Posted on Mar 22, 2015 READ MORE


In Germany, Dozens Wounded and Police Cars Set Afire in Anti-Austerity Protests

Thousands participated in anti-austerity “Blockupy” demonstrations that turned violent outside the opening of the new headquarters of the European Central Bank in Frankfurt, Germany.

Posted on Mar 20, 2015 READ MORE



Ukrainian President: Enormous IMF Loan Won’t Help Ordinary Ukrainians

Petro Poroshenko admits that a $17.5 billion International Monetary Fund loan and its associated austerity measures won’t improve the lives of ordinary Ukrainians—but will help pay foreign creditors and fund the country’s ongoing civil war.

Posted on Mar 15, 2015 READ MORE



Addressing the Senate, an Anti-Austerity Economist Criticizes U.S. Budget Policy

There is much confusion, politically sown, about what debt is, what it does and what it costs. This includes the false ideas that the government deficit is unsustainable, that “entitlements” are bleeding us and that paying interest on the national debt displaces money that would otherwise be spent on public programs.

Posted on Mar 13, 2015 READ MORE



The Noose Around Greece: How Central Banks Harness Governments

It seems the European Central Bank has made good on a threat by Goldman Sachs to cut off liquidity to Greek banks in the event the nation elected an anti-austerity government.

Posted on Mar 11, 2015 READ MORE



Greece Can’t Do It Alone: Austerity Victims of the World, Unite!

For the anti-austerity struggle in Greece and elsewhere to become effective and sustainable, it must be raised from the national level to the international level.

Posted on Mar 6, 2015 READ MORE


Greek Finance Minister Varoufakis Wants Austerity ... for the Rich

“The finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich,” says economist Michael Hudson (not pictured) of the ongoing confrontation over the Greek debt crisis.

Posted on Feb 25, 2015 READ MORE



Europe’s Millennials ‘Suffered Disproportionately’ From the Financial Crisis and Austerity

Europe’s youths have shifted their views and feel increasingly powerless to effect change. In a world filled with so much socio-economic instability, can we blame them?

Posted on Feb 25, 2015 READ MORE



Scourge of the Greeks: German Finance Minister Wolfgang Schauble

After the financial troika triumphed over the Greek government in debt negotiations last week, Germany’s veteran minister “indulged himself with some patronizing comments,” observed economics correspondent Phillip Inman at The Guardian.

Posted on Feb 22, 2015 READ MORE



Can the Greek Tragedy Be Rewritten?

The world is watching to see if the anti-austerity party Syriza can turn things around for Greece. Success may inspire hope in the economically desperate across the globe—and fear among the elites.

Posted on Feb 19, 2015 READ MORE



From ‘Demos’ to ‘Podemos’: Popular Uprisings in Greece and Spain

Like Greece, Spain has been wracked by the global recession and could soon elect an anti-austerity government.

Posted on Feb 18, 2015 READ MORE



Kostas Koutsaftikis / Shutterstock.com

The Pro-Workers, Pro-Growth Experiment in Greece Is Under Threat

While the wealthiest 85 individuals on the planet own more wealth than the bottom half of the world’s population—and when the top 1 percent will soon own more wealth than the bottom 99 percent—the people of Greece and the anti-austerity party, Syriza, they elected to lead them are struggling to rebuild their economy so that ordinary people there can live with a shred of dignity and security.

Posted on Feb 18, 2015 READ MORE



How Germany and the U.K. Benefited From Greece and Spain’s Brain Drain

As Greece tries to come to an “honorable agreement” with austerity-loving eurozone finance ministers, let’s not forget who stood to gain the most from the financial crises in southern Europe.

Posted on Feb 17, 2015 READ MORE



Austerity’s Greek Death Toll: Study Connects Strict Measures to Rise in Suicides

The harsh economic policies implemented in Greece and other countries in recent years have been shown to have a detrimental effect on mental health and well-being.

Posted on Feb 4, 2015 READ MORE



Truthdigger of the Week: Yanis Varoufakis

The Syriza finance minister confirmed his party’s intentions to fight EU oppression by refusing to negotiate with representatives of Greece’s “hated troika of lenders.”

Posted on Jan 31, 2015 READ MORE



Trojan Hearse: Greek Elections and the Euro Leper Colony

Alexis Tsipras, the leader of Syriza, would like to pretend that austerity and the euro are two different things. Apparently, he’s blissfully ignorant of the history of the euro. The horror of austerity is not the consequence of Greek profligacy: It was designed into the euro’s plan from the beginning.

Posted on Jan 29, 2015 READ MORE



360b / Shutterstock.com

Enough of Germany’s Tyrannical Austerity

Years of trudging through an economic slough of despond, guarded by German warders, have left the states of the European Union’s south near to despair.

Posted on Jan 27, 2015 READ MORE


Russell Brand on the ‘Greek Revolution Against Corruption’ and the Fall of Capitalism

The host of the YouTube series “The Trews” takes a look at Syriza’s victory in Greece’s recent elections and considers whether capitalism has “finally crumbled.”

Posted on Jan 27, 2015 READ MORE



AP/Petros Giannakouris

A 21st Century Left Rises: Syriza’s Victory and Its Relevance for the U.S. and the World

A question looms large in the wake of the Greek elections: Can democracy defeat the rule of the 1 percent?

Posted on Jan 27, 2015 READ MORE


Greeks Respond to Syriza’s Election Victory

Voters across Athens, from Golden Dawn diehards to pragmatic communists, shared their thoughts and feelings as Greece’s anti-austerity Syriza party swept to victory in Sunday’s elections.

Posted on Jan 26, 2015 READ MORE


‘We Are Going to Destroy the Greek Oligarchy System’

Yanis Varoufakis, tipped to become finance minister of what may become Greece’s leading party, describes what Syriza will do if it takes power.

Posted on Jan 25, 2015 READ MORE



Greece’s Solidarity Movement: ‘A Whole New Model—and It’s Working’

There are accounts of Greeks pulling together to support themselves and each other ahead of an election that polls predict will result in a leadership firmly opposed to austerity policies imposed by the European Union.

Posted on Jan 23, 2015 READ MORE



Authoritarianism, Class Warfare and the Advance of Neoliberal Austerity Policies

Capitalism has learned to create host organisms and in the current historical conjuncture one of those organisms is young people.

Posted on Jan 11, 2015 READ MORE



EU Showdown: Greece Takes on the Vampire Squid

The Greeks have been threatened by the European financial troika with a “Cyprus-Style prolonged bank holiday” if they “vote wrong” in an upcoming presidential election that looks likely to favor the EU-skeptic, anti-austerity, leftist Syriza party. But they have been bullied for too long and are saying “no more.”

Posted on Jan 10, 2015 READ MORE



Study: IMF Austerity Helped Ebola Kill Nearly 8,000 People

Professors at three leading British universities say International Monetary Fund policies favoring the repayment of international debts over social welfare spending contributed to the Ebola crisis by inhibiting an effective response by health care professionals in the three worst-hit African countries.

Posted on Jan 1, 2015 READ MORE



‘The Most Powerful Woman in the World’

A New Yorker profile of German Chancellor Angela Merkel depicts a shrewd politician cut to the shape of leadership in our age: bland, personally reserved and entirely uninterested in challenging the prevailing neoliberal order.

Posted on Nov 27, 2014 READ MORE



Three Decisive Events for Europe in the Week Ahead

On Sunday, parliamentary elections in Ukraine and “stress tests” and reviews conducted by the European Central Bank will “determine the entire continent’s direction for years ahead,” financial economist Anatole Kaletsky writes at Reuters.

Posted on Oct 24, 2014 READ MORE



Austerity-Hit Britons Have Sex Less Than Once a Week

A British Observer survey found that the average British adult has sex just four times a month, a drop from a 2008 figure of seven times a month, prompting questions of whether the change has anything to do with the ongoing economic doldrums.

Posted on Sep 28, 2014 READ MORE



1000 Words / Shutterstock.com

Neo-Liberal Austerity Keeps Europe Down

Given the current dismal state of the European Union economy, which is now firmly under German control, one must ask why Angela Merkel and her government continue to champion austerity, seemingly against all reason.

Posted on Aug 26, 2014 READ MORE



Spanish Police Arrest 24 in Madrid After Anti-Austerity Protest

Spanish police detained 24 people during street violence late Saturday after a large anti-austerity demonstration in Madrid in which dozens were injured.

Posted on Mar 24, 2014 READ MORE



Greek Austerity: Don’t Try This at Home!

Ironically, the very New Deal legacy that austerians work to euthanize in the U.S. is the chief thing that has prevented the country’s economy from completely crashing.

Posted on Feb 28, 2014 READ MORE


Monopoly’s Poster Children

Economist Michael Hudson talks about how the economic crisis, austerity, U.S. economic policy and decisions made by local political parties shaped Ireland’s economy.

Posted on Feb 17, 2014 READ MORE



The True Actor

Jacinto Lucas Pires’ award-winning novel, “The True Actor,” is the perfect illustration of writer Pedro Mexia’s statement: “Portugal is traveling through a black tunnel where the light at the end is merely a train about to crash into it.”

Posted on Feb 14, 2014 READ MORE



Congress Passes $8.7 Billion Food Stamp Cut

Across the country, 850,000 households are set to lose an average of $90 per month in food stamp benefits, thanks to American lawmakers.

Posted on Feb 6, 2014 READ MORE



Germany Prepares for Third Greek Financial Rescue

More austerity cuts are coming to Greece as Germany signals a plan to deliver a third rescue package for the debt-stricken country.

Posted on Feb 3, 2014 READ MORE



Iker Merodio (CC BY-ND 2.0)

Irish Compliance Yields Eurozone Bailout Exit

Three years after international lenders loaned Ireland $92.7 billion to recover from its part of the international economic crisis, the country is the first afflicted eurozone state to exit its rescue program.

Posted on Dec 14, 2013 READ MORE



Because: The English Language’s Newest Preposition

Linguists are recognizing that, thanks to the Internet, “because” has jumped from being a conjunction to a preposition; probiotics may help cure depression; meanwhile, if Europe’s austerity is an indicator of America’s future, neo-facism is on its way. These discoveries and more after the jump.

Posted on Nov 20, 2013 READ MORE


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