A group of high-profile trade unions have backed a growing campaign opposed to a new transatlantic trade deal critics claim will make the privatization of Britain's National Health Service (NHS) irreversible. Three of the UK’s largest unions have tendered motions to the Trade Union Congress (TUC) in Liverpool, outlining their opposition to the cross-border agreement currently being negotiated [...]

Christine Lagarde, head of the International Monetary Fund (IMF) has urged Germany to increase spending to spur the eurozone's flagging economic recovery, and said that a number of structural reforms are needed to revive the bloc’s growth. "We think that public or private investment (in Germany) to finance infrastructure would be welcome," Lagarde told French daily Les Echos in an interview o [...]

The widening gap between America's richest and the middle and working classes is unsustainable and is unlikely to improve a survey released on Monday by the Harvard Business School has found. The study which is called “an economy doing half its job” said that while large American companies were showing signs of recovery and were maintaining their competitive edge on the world stage, many mi [...]

A 2009 intelligence document provided to journalists by former government contractor Edward Snowden suggests the United States weighed someday conducting espionage to prevent losing its economic prowess to other countries. The document, published first by The Intercept on Friday this week, outlines tactics the American intelligence community may implement in the future in the event of certain s [...]

Nearly 500 protesters were arrested in three dozen US cities on Thursday as fast-food workers and supporters staged sit-ins and acts of civil disobedience nationwide to call attention to their low wages and lack of union representation. Organizers of the strike said that, all told, actions at fast-food restaurants occurred at about 150 cities nationwide, from Manhattan’s Times Square to Littl [...]

Financing the military offensive in eastern Ukraine is now proving to be a major economic headache for Kiev. The cost of rebuilding conflict-torn eastern Ukraine may reach $8 billion, Prime Minister Arseny Yatsenyuk has indicated. As long as the military offensive in the east continues, Ukraine has to further dig into its fast-depleting state coffers to support the operation. If the war continu [...]

The first Eastern European EU president, Donald Tusk faces difficult times ahead – and few credentials to suggest he is up to the job... Polish Prime Minister Donald Tusk will chair EU meetings as President of the European Council, with many hoping he will prove to be a pragmatic counterweight to the divisive Jean-Claude Juncker, who by his own admission held the Eurozone together with a tiss [...]

Growth in Germany contracted 0.2 percent in the second quarter, the first fall in over a year, stoking worries Europe's biggest economy is slowing down, as the Ukraine crisis and weaker trade drag down what was once a glowing model for the rest of Europe. The seasonally-adjusted gross domestic product (GDP) from April to June was confirmed Monday by Germany's Federal Statistics Office to have d [...]

The International Monetary Fund has given a green light for Ukraine to receive the second tranche of financial assistance totalling $1.39 billion, meaning more austerity measures for the already struggling economy. “The Executive Board of the International Monetary Fund (IMF) today completed the first review of Ukraine’s performance under an economic program supported by a Stand-By Arrangem [...]

The Ukrainian crisis has two closely intertwined dimensions: a domestic one and an external one, both testifying to the failure to manage the process correctly. Both provide abundant material for a study in abject mismanagement, with the lessons of European history consigned to oblivion. [...]

A New Jersey woman who worked four jobs, who sometimes "wouldn't sleep for five days," according to a co-worker, died Monday while napping between shifts in her car on the side of the road. Maria Fernandes died in her 2001 Kia Sportage after inhaling carbon monoxide and fumes from an overturned gas container she kept in the car, according to the New York Daily News. [...]

The road to the Minsk summit this past Tuesday began to be paved when German Chancellor Angela Merkel talked to ARD public TV after her brief visit to Kiev on Saturday. Merkel emphasized, “A solution must be found to the Ukraine crisis that does not hurt Russia.” She added that "There must be dialogue. There can only be a political solution. There won't be a military solution to this con [...]

More than 200 business people have lent their support to the "Yes Scotland" campaign in an open letter published in The Herald Scotland newspaper, just one day after 130 slammed the idea of secession from the UK. The heads of 200 companies representing about 10 percent of Scotland’s workforce have backed Scottish independence over staying with the UK. Similar to the pro-unity bloc’s letter [...]

The Fitch ratings agency has downgraded Ukraine one step closer to default grade, as the Ukrainian currency the hryvnia hits a record low, and the economy balances on the brink of a collapse. Fitch cut the long-term local currency Issuer Default Rating (IDR) of Ukraine from B-,signifying a default risk, to CCC, where default is a real possibility, and affirmed its long-term foreign currency IDR [...]

Whether buying bread, filling a pharmacy prescription, getting a haircut or going to the doctor, some residents of Montreuil, France, are rejecting the euro in favor of "La Peche", a local community currency. In France, local currencies are growing in popularity as trust in state institutions erodes. An elaborate coupon system lets locals pay for services and goods with special local banknotes, [...]

Sooner or later EU denial must give way to gut-wrenching reform. The longer the delay, the greater the pain for the Lost Generation. The precipice of relative poverty never looks very threatening. Thus, despite mass eurozone youth unemployment and a 12 percent rate overall, Europe retains a facade of relative prosperity. However, the UK and US economies are growing with gusto, surpassing pre-re [...]

A couple of weeks ago the German newspaper Süddeutsche Zeitung claimed that Germany was refusing to sign off the Comprehensive and Economic Trade Agreement (CETA). The simple reason being the Investor-State Dispute Settlement (ISDS) regulation which I have written about here. [...]

Back in 2003, with the illegal Iraq war looming and protests filling the streets of London in opposition, Vanity Fair's David Margolick came to Downing Street to interview Tony Blair. When the writer broached the topic of religion – to US politicians what bees are to honey – the former PM’s spin doctor Alastair Campbell interjected sharply: “We don’t do God.” Of course, privately, B [...]

Forget Visa and MasterCard. After the two American credit system payment companies froze accounts without notice in March, Russia has been looking for an alternative in China UnionPay. China UnionPay plans to have 2 million cards in Russia in the next three years. [...]

Washington has refused to allow the UN International Court of Justice (IJC) to hear Argentina's claims that US court decisions on the country's debt have violated Argentina's sovereignty. “We do not view the ICJ as an appropriate venue for addressing Argentina’s debt issues, and we continue to urge Argentina to engage with its creditors to resolve remaining issues with bondholders,” the U [...]

Inequality between the richest and poorest metropolitan areas in the US is at its highest since 1969, and could hamper the recovery of the housing market that was at the heart of the 2008 financial crisis. A report by the US Commerce and Labor Department shows that when analyzing the largest 100 metropolitan areas in the country, the disparity between the 10th most affluent region and the 90th [...]

Here's the curious rub about food sanctions, it rather throws down the gauntlet for Russia to close up a legacy of Communism. For all those who believe in big government, food provision is a good place to start disabusing the quaint (and horribly flawed) notion that the public sector can be more efficient. [...]