Charges from the European Commission could cost the company up to 10 percent of its annual revenue and show American firms that “there’s a bazooka in Europe that can be shot at companies” that seek to obtain dominant market positions.
A digital system for tracking people as they traverse European borders threatens privacy, civil liberties and the safety and dignity of migrants fleeing their embattled homelands, critics say.
New research by the European Commission suggests that energy efficiency can become a “niche” market that will attract investors away from fossil fuels.
Greece’s former finance minister had a contingency plan if the country’s creditors shut down its banking system and blocked its ability to do business with other countries, as they eventually did. And he’s being pilloried for it.
The aim of German Chancellor Angela Merkel and other EU powers in the Greek debt crisis is “apparently to humiliate Tsipras and his government in preparation for its early replacement with a more pliable administration,” writes Seamus Milne, associate editor of The Guardian.
The esteemed U.S. political economists say Western financial institutions are keen to bail out Greece because if they don’t, the country's existing creditors -- other Western financial institutions -- will fail to recover money they previously lent to Greece.
Greeks found their savings blocked and banks closed Monday morning after a standoff between the country and its bailout creditors that cast doubt on the future of Europe’s single-currency zone.
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.
“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.