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ReCommons Europe
Impact of European policies on the Global South and possible alternatives
8 September 2020 - by ReCommons Europe
The year 2020 was marked by two events that revealed, once again, the limits of the capitalist system. First, the CoViD-19 pandemic caused by the new coronavirus SARS-CoV-2, responsible for the deaths of several hundred thousand people and (...) -
In the face of the past crimes of the European colonial powers and European neo-colonialism, reparations are needed
29 July 2020 - by ReCommons Europe
Phase 2 of the ReCommonsEurope project: “The impact of European financial policies and development cooperation strategies on the South and possible alternatives”. Thanks to the Black Lives Matter mobilizations that have been taking place in 2020 (...) -
The pandemic has exposed the nakedness of European neoliberalism
27 July 2020 - by Eric Toussaint, Miguel Urbán Crespo
Miguel Urban is a member of the European Parliament elected from the Spanish state and a member of Anticapitalistas. He was interviewed by Eric Toussaint. What is the objective of the Covid Tax initiative at the European level and at the level (...) -
Puerto Rico Faces Crises: Covid, Hurricanes, Earthquakes, Drought
20 July 2020 - by Dan La Botz
The United States has suffered 135,000 deaths from COVID-19 and has tens of millions of unemployed and both crises continue now into the fifth month, but nowhere has the economic crisis been greater than in the U.S. colony of Puerto Rico. (...) -
United States of America: Socialism for Big Capital and wild capitalism for the poor
10 July 2020 - by Eric Toussaint
While the US has been set ablaze since the end of May 2020 by a multitude of major antiracist demonstrations [1] and the ordinary working people of the world’s top power remain hard hit by the Covid-19 pandemic (as of 9 July 2020, in the United (...) -
Reply to the letter by Philippe, King of the Belgians, about Belgium’s responsibility in the exploitation of the Congolese people
8 July 2020 - by Eric Toussaint
On 30 June 2020, on the occasion of the 60th anniversary of the former Belgian Congo’s independence, the news went viral over the planet: Philippe, King of the Belgians, had conveyed regrets for the colonial past, and particularly for the time (...) -
Deficits, debt and deflation after the pandemic
6 July 2020 - by Michael Roberts
The Great Lockdown enforced by the COVID-19 pandemic has driven governments across the globe to apply extensive bailout and fiscal stimulus programmes. On average, these measures of wage supplements, furlough payments, loans and grants to (...) -
The DiEM25 Plan to Confront the Covid-19 Crisis in Europe
27 May 2020 - by Eric Toussaint, Olivier Bonfond, Eva Betavatzi
Strengthen the European Union and its institutions, include the ECB; increase public debt as much as possible in order to save the private sector; not question the legitimacy of public debt; pay €2,000 into the bank account of each European (...) -
A book that reads almost like a thriller
11 May 2020 - by Philippe Poutou
Originally published in French and in Greek in March 2020 under the title Capitulation entre Adultes https://www.cadtm.org/Capitulation-entre-adultes-Grece-2015-une-alternative-etait-possible, the book will be available in English before the end (...) -
The Greek tragedy: Act Three
27 April 2020 - by Michael Roberts
On Thursday night, EU leaders again failed to agree on how to provide proper fiscal support for hard-hit member states to cope with the health costs of the coronavirus pandemic and collapse of their economies from the lockdowns. The EU leaders (...) -
For Immediate Release
We Won’t Pay for Their Crises Anymore!
15 April 2020 - by CADTM Europe
In the midst of the Coronavirus crisis, Mario Draghi stated in the pages of the Financial Times that “whatever it takes” must be done to guarantee the future of the Eurozone. He was reaffirming a principle that has been applied by European (...) -
“If Julian Assange is extradited, it’s the end of the rule of law in the West” Eva Joly (Interview)
14 April 2020 - by Jérôme Duval, Eva Joly
Last March, one of our journalists had the opportunity to speak with Eva Joly, a lawyer and former Member of Parliament, about the details of the Assange case, as she herself knows the main protagonist personally. The subjects of their exchange (...) -
Series: 1944-2020, 76 years of interference from the World Bank and the IMF (Part 8)
Why the 1953 cancellation of German debt won’t be reproduced for Greece and Developing Countries
27 March 2020 - by Eric Toussaint
In 2020, the World Bank (WB) and the IMF are 76 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who work to generalize policies that run counter the (...) -
When the Bernie Sander’s mass movement becomes the establishment’s “worst nightmare”
17 February 2020 - by Yorgos Mitralias
Now that the most sceptical and doubting are finally beginning to realise that Bernie Sanders is a real contender for the US Presidency, it is time to take a closer look at the reasons why his candidature is so unprecedented, historical and (...) -
Russia: Origin and consequences of the debt repudiation of February 10, 1918
11 February 2020 - by Eric Toussaint
In February 1918, the repudiation of the debt by the Soviet government shocked international finance and sparked off unanimous condemnation by the governments of the great powers. This decision of repudiation was intrinsic to this first big (...) -
Repression, eviction and dispossession in New Democracy’s Greece
9 January 2020 - by Theodoros Karyotis
The latest attack on the squatting movement in Greece is the preamble for a massive operation of housing dispossession by the right-wing government. Dimitris Indares was still in his pyjamas when the police knocked on his door in the (...) -
The Varoufakis-Tsipras line was doomed to fail from the word ’Go’
2 January 2020 - by Eric Toussaint
Abstract This article on Varoufakis’s book, Adults in The Room: My Battle with Europe’s Deep Establishment (2017) and about what happened in Greece in 2015 is a guide for left-leaning readers who are not happy with the dominant narrative meted (...) -
Regarding the “Hercules” plan, housing dispossession and squat evictions in Greece
20 December 2019 - by Theodoros Karyotis
The “Hercules” plan to sell €30 billion worth of non-performing (“red”) loans to funds, with the state acting as the guarantor, was approved a few days ago by the Greek parliament. Of course the loans will be sold at a fraction of the nominal price, (...) -
The fantasy world continues
29 November 2019 - by Michael Roberts
The fantasy world continues. In the US and Europe, stock market index levels are hitting new all-time highs. Bond prices are also near all-time highs. Investment in both stocks and bonds are delivering massive profits for the financial (...) -
A critical review of Costa-Gavras’ Adults in the Room
26 November 2019 - by Eric Toussaint
In his latest work film director Costa-Gavras seeks to denounce the brutality with which European politicians treated the 2015 Greek crisis. Very commendable, but it is also regrettable that so much more is ignored. Costa-Gavras is one of the (...) -
Another look at the Federal Reserve’s panic in September 2019 and solutions to the crisis
28 October 2019 - by Eric Toussaint
You may recall that from 17 September 2019, the United States Federal Reserve injected massive amounts of liquidity into banks due to a quite abnormal situation on the repo market [1]. The repo market designates a mechanism used by banks to (...) -
New bubbles, mounting debt: preparing for the coming crisis
24 October 2019 - by Ben Reynolds
A new global recession looms on the horizon, pointing to a new era of financial crisis, government bailouts and popular outrage. Financial markets roil and the banking system groans. The US Federal Reserve cuts interest rates, even as Chairman (...) -
Corporate debt, fiscal stimulus and the next recession
23 October 2019 - by Michael Roberts
The debt owed by corporations in the major economies has risen since the end of the Great Recession in 2009. With global growth slowing and the prospect rising of an outright global recession recurring ten years after the last one, the debt (...) -
Yanis Varoufakis’s Account of the Greek Crisis: a Self-Incrimination
Tsipras and Varoufakis advance towards final capitulation
1 October 2019 - by Eric Toussaint
Adults in the Room, Costa-Gavras’s new film based on the book of the same title by former Finance Minister Yanis Varoufakis, will be released from 6 November in France and Belgium (see trailer: https://www.youtube.com/watch?v=U3aAyJKOSO0). We (...) -
ECB: You can take a horse to water but….
18 September 2019 - by Michael Roberts
Last Thursday, Mario Draghi, the current head of the European Central bank, soon to be replaced by Christine Lagarde from the IMF, announced a parting gift to banks and financial markets. The ECB decided to reintroduce its bond purchasing (...)
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