A New Stage in the Crisis of Capitalism - Part Three

Europe faces a protracted period of austerity, with major contractions in output, consumption and employment. The crisis has started with the smaller, more vulnerable economies like Greece, Portugal and Ireland. But the others will follow, starting with Britain. 

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A New Stage in the Crisis of Capitalism - Part Two

In the second part of his article, Alan Woods looks at the dire economic situation the European Union faces. He also analyses the effects of the European crisis on the world economy.

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Euro Crises Confirms Marxist Perspectives

When the economy was booming the euro was seen as a source of strength or those countries that had adopted the new currency. Now it is transforming into its opposite, as the crisis in Greece demonstrates. The Marxists warned about this long ago.

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A New Stage in the Crisis of Capitalism - Part One

After talk of the so called "credit crunch" gave way to optimistic comments about the "green shoots" in the economy, events in Greece caught the bourgeois commentators unaware. Now the world economy has once again been plunged into chaos and uncertainty as the governments of Europe try to contain the fall-out from the near-default of Greece and it is the workers who will be presented with the bill.

“To the toiling masses of Europe it is becoming ever clearer that the bourgeoisie is incapable of solving the basic problems of restoring Europe’s economic life.” (Trotsky, On the United states of Europe, 1923)

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Pakistan Steel – Once Again Workers Make A Stand

Pakistan Steel is the biggest industrial steel company in Pakistan which plays a vital role in the country’s economy. The rulers are trying to hijack this worker’s institution but workers are fighting back in a militant way.

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