Germany needs ‘small miracle’ to avoid recession after exports fall by 5.8% | Business | The Guardian. The fall in exports comes as sanctions between Russia and Europe and a flagging economy in the wider eurozone take their toll on Germany. Photograph: Frank Augstein/AP German exports suffered the biggest
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Parchment in the Fire: Five charts that show Germany is heading into recession | Business | theguardian.com
Five charts that show Germany is heading into recession | Business | theguardian.com. Germany is on brink of recession Photograph: Bloomberg/Bloomberg via Getty Images Germany is on the brink of recession. Recovery in Europe’s powerhouse went into reverse in the second quarter when the economy shrank by 0.2%. All
Continue readingParchment in the Fire: Austerity has been an utter disaster for the eurozone | Business | The Guardian
Austerity has been an utter disaster for the eurozone | Business | The Guardian. Austerity has been an utter and unmitigated disaster, which has become increasingly apparent as European Union economies once again face stagnation, if not a triple-dip recession. Photograph: Vladimir Rys/Getty Images “If the facts don’t fit
Continue readingParchment in the Fire: Spain prepares for an autumn of discontent by buying €1bn of riot gear | World news | The Guardian
Spain prepares for an autumn of discontent by buying €1bn of riot gear | World news | The Guardian. The Spanish government is readying itself for an autumn of discontent, spending nearly €1bn on riot gear for police units as disparate protest groups prepare a string of demonstrations. Since June,
Continue readingParchment in the Fire: Eurozone fears of stagnation grow as France and Italy suffer | World news | The Observer
Eurozone fears of stagnation grow as France and Italy suffer | World news | The Observer. Francois Hollande and Paris’s mayor, Anne Hidalgo, at a ceremony on 25 August marking the 70th anniversary of liberation. Photograph: Joel Saget/AFP/Getty Images François Hollande removed his government’s leading anti-German, anti-austerity leftwinger last
Continue readingParchment in the Fire: Why Italy’s stagnation could be the future for the entire eurozone | Riccardo Bellofiore | Comment is free | theguardian.com
Why Italy’s stagnation could be the future for the entire eurozone | Riccardo Bellofiore | Comment is free | theguardian.com. This summer Italy fell into a triple-dip recession. After the 2008/09 collapse, the economy stagnated, heading back into recession during 2011 and never really recovering. The philosophy of Giulio
Continue readingParchment in the Fire: An austerity revolt has broken the French government. Will the EU follow? | John Palmer | Comment is free | theguardian.com
An austerity revolt has broken the French government. Will the EU follow? | John Palmer | Comment is free | theguardian.com. If there were any lingering doubts about the seriousness of the crisis hanging over the future of the euro – and potentially of the European Union itself – the
Continue readingParchment in the Fire: Merkel seeks Spanish support for unpopular austerity measures | In English | EL PAÍS
Merkel seeks Spanish support for unpopular austerity measures | In English | EL PAÍS. German Chancellor Angela Merkel traveled to Spain on Sunday for a two-day trip aimed at securing Spanish support for her austerity policies, now under fire in the European Union. In return, Spanish Prime Minister Mariano Rajoy
Continue readingParchment in the Fire: EU Advisors Advocate use of Military Against Strikes and Protests | Global Research
EU Advisors Advocate use of Military Against Strikes and Protests | Global Research. Experts at a European Union (EU) think-tank are demanding that the EU prepare to put down strikes and protests with military force. Due to the deepening social inequality in a globalised economy and growing military conflicts
Continue readingParchment in the Fire: Upstart party Podemos emerging as third political power, says new poll | In English | EL PAÍS
Upstart party Podemos emerging as third political power, says new poll | In English | EL PAÍS. New party Podemos has taken a further step toward becoming the third power on the Spanish political scene, according to the latest opinion poll from the Center for Sociological Research (CIS). The group
Continue readingParchment in the Fire: Youth unemployment reaches record high – English – ANSA.it
Youth unemployment reaches record high – English – ANSA.it. (ANSA) – Rome, July 31 – Unemployment among young Italians climbed last month to 43.7%, a level not seen in 37 years, according to statistics Thursday that presented further evidence of the continuing weakness in the country’s lackluster economy. The jobless
Continue readingParchment in the Fire: Social movements in Spain – 15M
Social movements in Spain – 15M. From Revolution News Many things have changed and we need to know how to read reality and celebrate our triumphs. The emergence of the 15M movement did not result in an organisation which currently has a significant number of members. The 15M movement is
Continue readingParchment in the Fire: Beyond the European elections, another left-wing force is growing in Europe | Red Pepper
Beyond the European elections, another left-wing force is growing in Europe | Red Pepper. Pascoe Sabido However you interpret them, the European elections have challenged the mainstream’s business-as-usual way of doing politics in Brussels. But while many commentators ignore progress on the left, focusing exclusively on the rise of the
Continue readingParchment in the Fire: It’s Time To Stand Up To Troika Austerity Part II
It’s Time To Stand Up To Troika Austerity Part II. Thomas Fazi In the first part of this article I looked at the mounting evidence against austerity by organisations as varied as Caritas, the ILO, the Council of Europe and the IMF. So why is the European establishment pushing for more of
Continue readingParchment in the Fire: Thomas Fazi: It’s Time To Stand Up To Troika Austerity Part I
Thomas Fazi: It’s Time To Stand Up To Troika Austerity Part I. In my book, The Battle for Europe: How an Elite Hijacked a Continent – and How We Can Take It Back, published some months ago by Pluto Press, I argued that the austerity policies imposed on European member
Continue readingParchment in the Fire: Leader in Austerity Push Appointed Head of Greek Central Bank – NYTimes.com
Leader in Austerity Push Appointed Head of Greek Central Bank – NYTimes.com. By NIKI KITSANTONISJUNE 11, 2014 The announcement on Wednesday, by the General Council of the Bank of Greece, followed a sweeping cabinet shuffle on Monday that installed Gikas Hardouvelis, another economist and former government adviser, as Greece’s new
Continue readingParchment in the Fire: Greece Wars With Courts Over Ways to Slash Budget – NYTimes.com
Greece Wars With Courts Over Ways to Slash Budget – NYTimes.com. ATHENS — The Greek government has made a range of painful cuts to salaries, pensions and jobs for public workers over the last four years, saying they were needed to satisfy the demands of the international creditors that bailed
Continue readingParchment in the Fire: Capital, Labour, and the Eurozone Crisis
Most of the coverage regarding the Eurozone crisis has understandably focused on the politics of austerity. Less attention, however, has been paid to the longer term trends in the industrial relations of those countries hardest hit by the crisis: Portugal, Italy, Ireland, Greece and Spain; the so-called PIIGS countries. Recent
Continue readingParchment in the Fire: Portugal indebted to Angola after economic reversal of fortune | World news | Guardian Weekly
Portugal indebted to Angola after economic reversal of fortune | World news | Guardian Weekly. There was no doubt about the firm handshake, but the smile looked a bit forced. The date was 17 November 2011, the place Luanda. Pedro Passos Coelho, the Portuguese premier, had just completed talks with
Continue readingParchment in the Fire: After The Elections The Real Battle For Europe Begins
After The Elections The Real Battle For Europe Begins. by Thomas Fazi Taking stock of the results of the recent European elections is not an easy task. Many commentators have described the outcome as an ‘earthquake’, citing the surge in ‘anti-establishment’ parties, with voters supposedly lured by two ‘extremes’: the
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