A brewing sovereign debt crisis threatens to engulf as many as sixty-one countries in debt distress over the coming year. Aid flowing from the global North—which carries the most responsibility for the atmospheric carbon stock—to the global South—which bears the brunt of its impacts—must be dramatically scaled up. Despite professing the need for global climate solutions, governments in the more prosperous countries have responded to this threat with lassitude and indifference, as evidenced by the slate of unambitious, unserious, and demonstrably ineffective responses issued from their recent summits. Meanwhile, democratic deficits within the institutions of multilateral governance show the difficulty of grappling with the pronounced asymmetries in our international financial architecture. Even the most ambitious reforms slated for discussion at week’s Summit on a New Global Financing Pact in Paris fail to confront the fundamental role of debt in that asymmetrical architecture.
National Politics
Lily Lynch – Democratic Pretence
Analysis of the recent election in Serbia and the fallout from it. In New Left Review’s ‘Sidecar’. Read the article HERE.
Austerity
Quinn Slobodian – Hayek’s Bastards: The Populist Right’s Neoliberal Roots
Much of the media has framed the populist right as a backlash against neoliberalism – but they share common roots in the project to defend social hierarchies against the threat of equality. Read here
Climate Crisis
Jordyn Dahl – No, the EV isn’t dead — just briefly comatose
While the Chinese market for electric vehicles is expanding at a rate of knots, the EU market has stalled. In ‘Politico’. Read the full article HERE.
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