This is a product of austerity as cash starved nations turn to criminaltiy to raise cash. The same is true of tax policies and the list goes on. Austerity has failed in the Europe – so has the EU.
EU politics
Gavin Rae: The Polish Continuum
Former President of the European Council Donald Tusk looks set to become Poland’s Prime Minister after the election, but he may not have the last laugh. In New Left Review’s ‘Sidecar’. Read the article HERE.
Economics
Reuters: China’s economy cools sharply in April as lockdowns bite
April industrial output -2.9% y/y vs f’cast +0.4% April retail sales -11.1% y/y vs f’cast -6.1% Nationwide jobless rate highest since Feb 2020 Jan-April fixed asset investment +6.8% y/y, vs f’cast +7.0% Read Here
Economics
Bill Mitchell: US labour market in peril as a result of political choices made by the US government
In the current circumstances, while the lockdowns are driving people into joblessness, the alternative would have been for the government to just pay the wages and order people to stay at home. Read here People […]
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