Archive for May, 2010

The Butchers’ Coalition – An Economic Agreement for Severe Austerity

Posted on May 16th, 2010 in UK Crisis

The agreement between the Conservatives and the Lib Dems marks the first coalition government since 1931. The situation in both cases was very familiar. Capitalism is struggling with a severe economic and financial crisis that the wealthy, rich and bankers want to make the bulk of the population – the working class and the poor [...]

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750 Billion Euros to Bail out Europe: But Europe’s Crisis is far from Over

Posted on May 10th, 2010 in European Crisis

The European Commission (EC), European Central Bank (ECB) and the International Monetary Fund (IMF) have put together a 750 Euro billion bail out package to try and avert what would be the second leg of the great financial crisis and a double dip recession which could lead to a depression world wide. The package was [...]

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  • @TheLeftBanker

    • RBS £2 billion loss not as BBC reports £776 million. Twice as big as forecast. 3 hours ago

    • @BharatKAzad I think so with Portugal 6 months behind and Spain another year 21 hours ago

    • Greece mark II: Portuguese opposition demands €30 billion more of a bailout to keep country afloat 21 hours ago

    • @aidanskinner hedge funds been putting this trade in droves spreading risk over several banks. They now hold about 30% of Greek debt 21 hours ago

    • Greek debt swap deal may fail as hedge funds & other investors would be better off with default and collecting insurance it would trigger 22 hours ago

    • Euro crisis goes global: Preliminary Chinese manufacturing figures for February shoes a contraction. 23 hours ago

    • Euro area manufacturing & services output drops in February. Recession on the way. 23 hours ago