Videos from last night’s debate in Wynn’s Hotel in Abbey Street Dublin. Jim Power, economist with Friends First, debated Joe Higgins, of the Socialist Party, about the current economic crisis and the way forward.
Parts one and two of this article have explained the chronic nature of the capitalist crisis in Ireland. Part three will first of all investigate the rhetoric underlining a crucial part of the government’s strategy for recovery before analysing the consequences of the crisis for the workers' movement.
Warnings of a currency war dominated the summit of the International Monetary Fund and the World Bank in Washington this weekend. The cooperation between global politicians, like when the economy plummeted in 2008, is dissolving. Many governments are devaluing their currencies in order to increase exports, thereby increasing contradictions and risking new economic downturns. The meeting, however, ended in a fiasco, with a statement void of content the only result. Below are two articles, on the world economy and on the currency wars.
The release of the latest estimates from the Department of Finance in the Stability Programme Update illustrates in cold figures in whose interests austerity is being implemented. The figures prove that society and the economy are being destroyed so that the bondholders will be repaid.
THE DECISION by the government to nationalise Anglo Irish Bank and now recapitalise AIB and Bank of Ireland (BOI) to the tune of €7 billion of tax-payers’ money is an attempt to shore up the Irish banking system. All Irish banks are on very shaky ground.