Home / Economy

Economy

World capitalist crisis leading to mass struggle

images/stories/tunisia2.jpg

Kevin Parslow, Socialist Party (England and Wales). Posted 30th July 2013

"We stand on the eve of convulsive events, the greatest in world history, of which the mighty movements in these countries are the precursor." This was how Peter Taaffe of the CWI’s International Secretariat described the current international situation in the session at this year’s CWI summer School on the ‘Capitalist World in Turmoil – the crisis and the class struggle today’. The "mighty movements" he referred to were the huge protests in Turkey, Brazil, Egypt and South Africa over the last 12 months, which have shown the colossal power of the masses once they move into action. These have followed on from the protests against austerity in Europe of the last few years.

Read More »

“Ungovernable” Europe enters economic depression

images/stories/peter-taaffe-dundee-public-.jpg

Kevin Parslow, Socialist Party (CWI England and Wales) Posted 22nd June 2012

The most crucial discussion at the CWI School 2012, held last week in Belgium, with up to 400 participants, was on Europe. This was introduced by International Secretariat member Peter Taaffe (pictured) and there were a number of excellent contributions from the floor, as comrades grappled with real and immediate situations posed for socialists internationally. Kevin Parslow from the Socialist Party (CWI England and Wales) summarises the plenary session.

Read More »

Libor banking scandal exposes rotten system

images/stories/bankers.jpg

Editorial from the Socialist - paper of the Socialist Party England and Wales. Posted 16th July 2012
 

If the recent appearance of Bob Diamond, the head of Barclays Bank, before the House of Commons Treasury Select Committee was intended to demonstrate some kind of public accountability of bankers before parliament then it dismally failed. It served merely to emphasise the timid approach of establishment capitalist politicians towards the top bankers

 

Read More »

Economic crisis: Capitalist leaders in disarray

images/stories/cwi10th.jpg

Lynn Walsh, from Socialism Today, magazine of the Socialist Party (CWI in England & Wales)

Capitalist leaders are in disarray as they strive and fail to get to grips with the eurozone crisis and its threat to the global economy. Neither the G20 summit in Mexico, nor crisis talks in Rome offered any solutions, as politicians and economists desperately try to hang on to the eurozone roller-coaster. Once again, the eurozone crisis dominated the G20 meeting of world capitalist leaders (Los Cabos, Mexico, 18-19 June). Yet again, the meeting concluded with a bland communiqué with no concrete measures to tackle either the eurozone crisis or the deepening global crisis.

Read More »

Greece heads for Euro exit

images/stories/greece2012.jpg

28th May 2012 Lynn Walsh, editor of Socialism Today, magazine of the Socialist Party (CWI England & Wales)

Ten governments have been overturned since 2008, with the rejection of austerity policies. There have been a continuous series of public-sector strikes, general strikes, protests and riots. Now, many eurozone leaders fear that the possible victory on 17 June of an anti-austerity, Syriza-led government in Greece could trigger the departure of Greece from the eurozone, with incalculable repercussions.

Read More »

Bankers bonus scandal: We need socialist nationalisation

images/stories/hester2.jpg

By Ronnie Stevenson. Posted 7th February 2012

£950,000 is a hellavu lot of money.  Especially when it comes on top off a salary of £1.2M. For a banker like Mr Stephen Hester, the Chief Executive of the Royal Bank of Scotland (RBS) it is an obscene amount.  Against the background of families who will not receive anything like that income in their lifetimes and when they are on the sharp end of attacks on wages, pensions and welfare benefits, it is particularly obscene.

Read More »

A world in turmoil

images/stories/peter-taaffe-dundee-public-.jpg

By Peter Taaffe, Socialist Party general secretary. Posted 9th Janaury 2012

In this special new year feature, Peter Taaffe looks back at 2011, a year of crisis, struggle and revolution. This article is based on a statement prepared for the Committee for a Workers' International, the world socialist organisation to which the Socialist Party Scotland is affiliated.

Read More »

Euro crisis: Cameron speaks only for the rich – not for us

By Peter Taaffe, Socialist Party general secretary. Posted 14th December 2011

David Cameron was stoutly defending the 'nation'. This is what he claimed after he was humiliatingly defeated by 26 votes to one at the 9 December EU summit and withdrew from participating in discussions over a new EU treaty. Which nation?

Read More »