Freshly out of the Greek Finance Minister’s chair, Yanis Varoufakis has declared that his German counterpart Wolfgang Schäuble wants to punish Greece – sacrificing it to reform the monetary union. In his article forDie Zeit, Varoufakis said that the goal of the German finance minister is to “discipline member states who opposed his very special […]
The Greek parliament has voted in favor of a bill enacting the reforms required by its European creditors as part of a new bailout plan. This paves the way for the controversial 85-billion-euro bailout deal defended by Prime Minister Alexis Tsipras. An overwhelming majority of Greek MPs voted in favor of the reform package, with […]
For the so-called ‘radical leftist’ from Greece is only the latest in a long line of ‘radicals’ and ‘leftists’ to betray the people who had voted for them and cave into the demands of imperialist international finance capital. The only surprising thing about Alexis Tsipras’ capitulation to the troika is that anyone should be surprised […]
A summit of all EU leaders scheduled for Sunday has been cancelled with eurozone leaders only meeting to “conclude talks on Greece” On Saturday, a meeting of Eurogroup finance ministers was adjourned without reaching any conclusion. Early on Sunday, Donald Tusk, the president of the European Council, tweeted that the eurozone leaders’ meeting will start […]
The IMF moving away from supporting Greece while remaining eager to underwrite bankrupt Ukraine underlines the dramatic collapse in EU power. It’s probably because it rolls off the tongue more easily. The phrase ‘poker face,’ I mean. The serious exponents of the art of never giving away the slightest facial tic must surely be synchronized […]
Greece and its lenders have been gridlocked in talks over its €240-billion debt for about six months. Fears of Greece defaulting are causing a run on the banks, with people withdrawing record amounts of deposits. RT will report on the latest developments. The EU could easily give Greece debt reduction or even cancel it, Richard […]
A massive march took place in the streets of Kiev to protest against the policies of the current Ukrainian government, calling for its resignation and economic reforms. According to TASS news agency, up to 3,000 people took to the streets in Kiev on Saturday to protest against lack of reform and economic instability.
A fundamental problem for Greece is that at the end of the day it wants to be in Europe but doesn’t want to have austerity policies, Mark Blyth, professor of political economy at Brown University, told RT’s “In the Now.” Greece has delayed its IMF debt payment until the end of June.
Greek Prime Minister Alexis Tsipras said in a speech to parliament on Friday that his country cannot accept the “unrealistic” proposals set by its lenders that did not include a promise of debt relief. Tsipras said that the only offer worth considering and which held the basis of a deal with creditors was the one […]
After it was revealed that Bill and Hillary Clinton have earned $30 million in the last 16 months, the House Oversight panel backed a measure that would limit taxpayer dollars on expenses incurred by ex-presidents earning more than $400,000 a year. The measure, passed by a voice vote, would set presidential pensions at $200,000 a […]
Britain has been labeled the “European capital of inequality” after a report found it is the most unequal country in the EU. As part of a progressive study, the European Foundation for the Improvement of Living and Working Conditions (Eurofound) analyzed wages across the EU.
The UK’S richest 20 percent have more than one hundred times the wealth of the poorest 20 percent, with the combined household wealth of £9.1 trillion remaining for the most part in the hands of the elite. New analysis from Lloyds Bank Private Banking revealed that if the combined household wealth was evenly distributed, each […]
Some European central banks have reportedly called on Greek bank subsidiaries operating in their jurisdiction to cut their exposure to Greek assets to avoid fallout should the country go into default. The central banks of Albania, Bulgaria, Cyprus, Romania, Serbia, Turkey and the Former Yugoslav Republic of Macedonia have demanded Greek banks’ subsidiaries minimize their […]
A third of higher income Americans are living paycheck-to-paycheck, even when they earn $75,000 a year because they would rather spend money on eating out and experiences than save money for retirement, according to a new survey. In a poll of 519 households earning $75,000 or more, nearly a third of them live paycheck-to-paycheck, at […]
Syriza’s landslide victory in this weekend’s Greek elections has immediately been called a ‘political earthquake’. It’s more accurate to say that Greek voters have gatecrashed the Euro elites’ party and let off a grenade. Megalomania is a condition characterized by delusional fantasies of power and relevance, combined with inflated self-esteem.