Skip to content

European Union (EU)

Brexit And The Derivatives Time Bomb

July 3, 2016 Ellen Brown, www.ellenbrown.com , , ,
By Ellen Brown for Web of Debt, Sovereign debt – the debt of national governments – has ballooned from $80 trillion to $100 trillion just since 2008. Squeezed governments have been driven to radical austerity measures, privatizing public assets, slashing public services, and downsizing work forces in a futile attempt to balance national budgets. But the debt overhang just continues to grow. Austerity has been pushed to the limit and hasn’t worked. But default or renegotiating the debt seems to be off the table. Why? According to a June 25th article by Graham Summers on ZeroHedge: . . . EVERY move the Central Banks have made post-2009 has been aimed at avoiding debt restructuring or defaults in the bond markets. Why does Greece, a country that represents less than 2% of EU GDP, continue to receive bailouts instead of just defaulting? Summers’ answer – derivatives: [G]lobal leverage has exploded to record highs, with the sovereign bond bubble now a staggering $100 trillion in size. To top it off, over $10 trillion of this is sporting negative yields in nominal terms. . . . Globally, over $500 trillion in derivatives trade [is] based on bond yields. But Brexit changes everything, says Summers.

The Silence Of The Left: Brexit, Euro-Austerity And The TTIP

July 3, 2016 Michael Hudson, www.counterpunch.org , , , ,
By Michael Hudson for Counterpunch. The media in the United States have treated the British vote against remaining in the European Union (EU) as if it is populist “Trumpism,” an inarticulate right-wing vote out of ignorance at being left behind by the neoliberal economic growth policy. The fact that Donald Trump happened to be in Scotland to promote his golf course helped frame the U.S. story that depicts the Brexit vote as a “Trump vs. Hillary” psychodrama – populist anger and resentment vs. intelligent policy. What is left out of this picture is that there is a sound logic to oppose membership in the EU. It is Nigel Farage’s slogan, “Take Back Control.” The question is, from whom? Not only from “bureaucrats,” but from the pro-bank, anti-labor rules written into the eurozone’s Lisbon and Maastricht treaties. The real problem is not merely that bureaucrats are making the laws, but the kind of laws they are making: pro-bank, anti-labor austerity. Tax and public spending policy has been taken out of the hands of national governments and turned over to the banking centers. They insist on austerity and scaling back pensions and social spending programs.

Europe Must Reform To Avoid A Populist Domino Effect

June 30, 2016 Sven Giegold, www.huffingtonpost.com , , ,
By Sven Giegold for The Huffington Post - Brexit is an historic setback for the European Union, but not a death sentence. As sad as the referendum result is, it must be respected. After referenda over the European Union’s constitution were held in France and the Netherlands in 2005, it was “business as usual.” That mistake must not be repeated. Europe has to prove that it is capable of learning and changing. Reforms can’t be made by heads of government behind closed doors — they should be transparent.

European Commission Approves Glyphosate For 18 Months

June 30, 2016 Lorraine Chow, www.ecowatch.com , ,
By Lorraine Chow for Eco Watch - Crop Protection Association CEO Nick von Westenholz said he was disappointed that EU member states “forced the commission into this position by ignoring the science and advice of expert regulators.” “The indecision of Member States and the need for an extension demonstrates how politicized this process has become,” he said. “Nevertheless, it will be a relief to farmers that they will be able to continue to use this crucial tool, at least in the short-term.” He added that the standard 15 year renewal should have been granted and urges the member states “to take the sensible, science led decision to re-licence this safe, efficient and effective product for the full 15 year period once the 18 month extension has expired.”

Newsletter: Brexit Backlash Against EU, Revolt Against Elites

June 25, 2016 Kevin Zeese and Margaret Flowers, www.PopularResistance.org , , , , , , , , , , , , , , , ,
By Kevin Zeese and Margaret Flowers for Popular Resistance. The globalized economy is not working for most people of the world. International trade agreements and new government structures like the European Union serve corporate power and put the people and planet aside to ensure profits continue to come first. They undermine democracy and national sovereignty, leaving people feeling more powerless. By pushing austerity and commodification of public services, people are now more economically insecure with less wealth and lower incomes. The response of many is anger. Some protest austerity, others blame people of a different skin color, heritage or ethnicity. The surprise vote in the UK to leave the European Union is the latest, and perhaps the biggest, example of the blowback economic and political elites are getting for their actions. Brexit shows we have our work to do to educate people that this is not about racism and anger at ethnic groups, but is really the battle between the people and the elites. It is a conflict over whether we the people will have the power to decide our futures, whether we can create a fair economy that serves more than the 1% and whether we can act in ways that are consistent with the needs of the environmental crisis we face.

2008 All Over Again: Great Britain’s Decision To Leave European Union

June 25, 2016 Chris Hedges, www.truthdig.com , , ,
By Chris Hedges for Truth Dig - Great Britain’s decision to leave the European Union has wiped out many bankers and global speculators. They will turn, as they did in 2008, to governments to rescue them from default. Most governments, including ours, will probably comply. Will the American public passively permit another massive bailout of the banks? Will it accept more punishing programs of austerity to pay for this bailout?

Brexit Vote Sends Shockwaves Across European Establishment

June 25, 2016 Alan Woods, www.marxist.com , , ,
By Alan Woods for In Defense of Marxism - The referendum result was a crushing vote of no confidence in the Establishment. It caused shock waves in the markets which last night were confident of the victory of a vote to remain. The Leave side won by a margin of 52 % to 48%: more than 1.2 million votes more than Remain, with the English shires and Wales voting strongly in favour of Brexit. But Scotland voted massively against. Voter turnout was very high: in Scotland 67%, in Wales 72% and in England 73%.

EU Appeals Committee Says No To Glyphosate Re-License

June 25, 2016 Staff, www.sustainablepulse.com ,
By Staff of Sustainable Pulse - The European Union Appeals Committee has failed to reach agreement over the re-licensing of the World’s most used herbicide, glyphosate, with France and Malta voting against the re-approval and seven other countries abstaining including Germany, Italy, Portugal, Austria, Luxembourg, Greece and Bulgaria. “The Commission regrets that no decision could be taken by the member states, in spite of its efforts over recent weeks to accommodate requests and concerns,” a spokeswoman for the European Commission said.

After Brexit, European Left Calls For ‘Massive Political Opposition’

June 25, 2016 Nadia Prupis, www.commondreams.org , ,
By Nadia Prupis for Common Dreams - In the tumultuous aftermath of the UK's vote to leave the EU, the European left is responding with a mix of reason, measured reassurances, and righteous defiance. Left Unity, a populist UK political party, released a statement early Friday morning that criticized the right-wing organizers of the Leave campaign and vowed to "step up the fight against neo-liberalism here—opposing all cuts, defending the NHS [National Health Service], fighting for decent housing—and across Europe."

352 European Groups Ask EU To Support Right To Boycott

May 22, 2016 Staff, www.eccpalestine.org , , , ,
By the European Coordination of Committees and Associations for Palestine. More than 300 human rights and aid organisations, church groups, trade unions and political parties from across Europe have called on the EU to uphold its legal responsibilities and hold Israel accountable for its violations of international law and to defend the right of individuals and institutions to take part in the Palestinian-led Boycott, Divestment and Sanctions (BDS) movement for justice and equality. Signatories to the letter called on the EU commission to “introduce the human rights guidelines guaranteeing freedom of speech and right to boycott and to use all other means you have in your disposal to support European citizens in their struggle to uphold basic human rights.”

The EU – A CIA Covert Operation

May 11, 2016 Justin Raimondo, www.original.antiwar.com ,
By Justin Raimondo for Anti War - The upcoming British referendum on whether to stay in the European Union (EU) represents the culmination of a long term project by the United States to destroy the concept of national sovereignty in the Old World and replace it with a supranational entity with ironclad links to Washington.. Whether that longstanding ambition has succeeded will be decided on June 23 – which is why President Barack Obama made a special trip to the Mother Country to give them a little lecture on the alleged evils of nationalism and the goodness of the EU.

90,000 Protest Obama: ‘Free Love, Not Free Trade’

April 24, 2016 Jon Queally, www.commonmdreams.org , , ,
By Jon Queally for CommonDreams. Hannover, Germany - On the eve of a visit by U.S. President Barack Obama, tens of thousands of people took to the streets in Germany on Saturday to voice emphatic opposition to the Transatlantic Trade and Investment Partnership agreement (TTIP), a deal they argue benefits global capitalism and corporate elites at the expense of the public good and local democracy. With a 1960′s “Summer of Love” theme informing the march, many participants grooved under banners reading “Freie Liebe – Statt Freihandel” (Free Love – Not Free Trade) as organizers estimated 90,000 people in attendance. With Obama arriving to meet with German Chancellor Angela Merkel on Sunday to push for the deal, the expression of dissent in the city of Hannover matches recent reporting explaining how support for the TTIP has fallen on both sides of the Atlantic.

As Support Plummets, Is EU Moving Closer To Becoming ‘TTIP Free Zone’?

April 22, 2016 Deirdre Fulton, www.commondreams.org ,
By Deirdre Fulton for Common Dreams - Intercontinental opposition to the TransAtlantic Trade and Investment Partnership (TTIP) continues to grow, with a new poll out Thursday showing that support for the controversial deal has "plummeted" in Germany and the U.S. over the last two years. The survey (pdf), conducted by YouGov for Germany's Bertelsmann Foundation, showed that only 17 percent of Germans believe the corporate-friendly trade agreement is a good thing, down from 55 percent in 2014. Likewise, in the United States, only 18 percent support the deal, compared to 53 percent two years ago...

Mapping The European Left Socialist Parties In The EU

April 16, 2016 Dominic Heilig, www.frosalux-nyc.org , ,
By Dominic Heilig for Rosa Luxemburg Stiftung - The European party system is changing rapidly. As a result of the ongoing neoliberal attack, the middle class is shrinking quickly, and the decades-old party allegiance of large groups of voters has followed suit. The European far right has been able to capitalize on this development; in many countries, populist and radical right-wing parties have experienced an unprecedented boom, as Thilo Janssen’s RLS-study on “Far-right Parties and the European Union” shows.

Opposition Derails EU Bid To Extend Use Of Toxic Herbicide

March 8, 2016 Lauren McCauley, www.commondreams.org ,
By Lauren McCauley for Common Dreams - A wave of opposition has slammed the brakes on a plan to re-approve the use of Monsanto's toxic glyphosate in the European Union as a number of member states, buoyed by growing public outcry, launched a shock rebellion against the proposal. European Commission leaders met behind closed doors in Brussels on Monday to hold a vote on whether to extend authorization of the use of the weed-killer for 15 years, before its license expires in June.
«12345678910»