Here we post a video of a speech by Lynn Walsh, editor of Socialism Today (political journal of the Socialist Party, England & Wales) on the crisis in the world economy and international perspectives. An article dealing with some of these themes in more detail will be included in the new edition of the Socialist
Lynn Walsh: A world in crisis from Stephan Kimmerle on Vimeo.
With the government preparing to milk the 15 December 'exit' from the bailout, hyperbole is being heaped upon hyperbole to welcome the 'return of sovereignty' to Ireland. The government, and in particular the Labour Party, want to use this supposed success story and the good mood it creates to carry them through the difficult local and European elections next May. What is the reality of this 'exit' and the true state of democratic control by people in Ireland over economic and other policies?
The PDF of this paper can be downloaded and printed here.
A lot of ink has been spilt in the mainstream media, praising the role a free trade agreement between the EU and the US could play in pulling the two economies out of the crisis they are engulfed in. Richard Bruton outdid himself in the Sunday Business Post on 14 April 2013, claiming “abolishing restrictions in the EU’s services sector alone could boost EU GDP by 2.6%.” Three days later a press release from him claimed that the whole deal could boost EU GDP by a mere 0.5%!
The one section of the the establishment which has so far escaped scot-free are the auditing firms, in particular the “Big 4”, KPMG, PWC, Ernst & Young and Deloitte. These firms gave a clean bill of health to the banks as late as 2008.
Caution is necessary when investigating figures for the economic situation in Ireland. There are economic vested interests at work that benefit from spinning every scrap of positive news. The media fully assist this and try to manufacture a mood or belief that substantial progress is just around the corner. So as well as trying to identify perspectives, it is necessary to take up the arguments and the propaganda that is being put forward constantly.
