Wolfgang Schäuble is the person who personified the so-called ‘die schwarze null’ (Black Zero) while finance Minister. His conduct as finance minister was an instrumental element in extending the GFC across the Eurozone. He is still influential in European politics and his latest Op Ed makes it clear that the austerity mindset is still alive and well despite the current relaxation of the Stability and Growth Pact rules during the pandemic.
Austerity
Bill Mitchell: The coronavirus crisis is just exposing the failure of neoliberalism
Each time this modern variant of financial capitalism gets ahead of itself, the main players – who are usually content pocketing excessive profits – always come running back for life support from the state. The […]
Geopolitics
Ali Dinçer: Gaza – Turkey’s new tightrope
While the news from Gaza has been overwhelmingly bleak , a rare silver lining has been the relative restraint of Turkish president Erdogan, who made unexpectedly cool-headed calls for de-escalation. Read HERE Recep Tayyip Erdogan […]
Austerity
Trades Union Congress – Unsecured debt hits new peak of £15,400 per household – new TUC analysis
With dpressed wages the question was, how can workers buy the products that capitalists produce when they had so little money in their pocket? The answer: credit. Read here
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