Five years ago, economists prophesied a prosperous future for Nigeria, and the rest of the continent. Yet today, the country is facing what one leading Nigerian academic recently told me is its “biggest crisis since independence”. The devaluation of the Nigerian naira by 230% over the past year, along with a huge rise in inflation, has sparked an economic crisis unequalled in its modern history. With meat, eggs and milk now a luxury, there have been reports of people in the north of the country being forced to eat poor-grade rice usually used as fish food.
Austerity
Paul Mason: The Italian crisis shows why the European left must break with the neoliberal EU
Without a radical realignment, social democrats in Italy and elsewhere face political extinction as racists and populists exploit this moment. Read here
Climate Crisis
Richard Murphy: The accounting profession is failing us all on climate change
The accounting profession is failing us all on climate change. Accountants could help save us all. But they aren’t, and there’s no sign that’s going to change. Read here
EU politics
The Guardian: Greece reiterates claim of €288bn for damages under Nazi occupation
Athens says destruction played major part in delaying Greece’s development as modern state Read here
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