Saturday, 14 December , 2019


Deutsche Bank and the global financial crisis

Deutsche Bank’s shares plunged to record lows this week, sparking talk of a government bailout to avert a new financial crash. The turmoil surrounding Germany’s biggest bank demonstrates that all of the contradictions of the global financial system that led to the meltdown of 2008 are once again erupting. Now, however, these contradictions are fuelling

Βanks and “Creditors” steal all Greek public property

The reforms were passed by a narrow 152-141 majority vote in Greece's 300-seat parliament, after 152 parliamentary members of the ruling Syriza-Independent Greeks coalition approved the reform bill. Only one member of the coalition voted against the bill, along with all opposition members.

Central Bank Digital Currencies: A revolution in banking?

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates

Who Profited From the $440 Billion Greek Bailout? Not Greeks

The US$440 billion in Troika loans—and thus Greek debt—has not been employed to benefit the Greek people, or to help the Greek economy recover from its eight years of depression; it has gone to pay the principle and interest on previous Troika debt, as that debt has been piled on prior debt in order to pay for previous debt.

After Greece and Cyprus, they prepare to attack Italy

A spectre is haunting Europe – the spectre of banking collapses in Italy, which could lead to renewed crisis in the eurozone, and a wider banking crisis affecting other countries with high exposure to Italian bank debt. Italy’s banks are in deep trouble, weighed down by €360bn of bad debt (“non-performing loans” in the jargon), equivalent to a fifth of Italy’s GDP (and about 18% of all the banks’ loans).

Smashing the Orwellian ‘globalisation’ cell

If good and thoroughly decent people shy away from the completely provable truth then we must all expect the Orwellian ‘globalisation’ cell door to...

Italy banking crisis on the wall

In Italy the banking crisis has been written on the wall for some time, the product of the concurrent circumstances of a weak economy (with attendant increase in the banks' NPL [non performing loans]), the imposition by the ECB of ever tighter capital requirements along with near-zero interest rates and untimely adoption of bail-in provisions.

Britain on the brink – part one

We publish this article by the British Marxists of Socialist Appeal, because we believe it’s a very important one, in order for someone to...

Iceland refuses its accused bankers ’Out of Court’ settlements

Eva Joly interviewed by Renaud Vivien On 8 December 2015, at the end of his visit to Greece, the UN Independent Expert on Debt, |1|...

The Return Of Crisis

Suddenly banks everywhere are in deep, deep trouble By Chris Martenson Financial markets the world over are increasingly chaotic; either retreating or plunging. Our view remains...