Capitalism & Crisis

Everything on global finance and the world economy.

Post image for Our responsibility to vote ‘NO’ in the Greek referendum

A yes vote would entail a major setback for popular struggles; a NO vote, by contrast, would open up radical new horizons for the grassroots movement.


Post image for It was the creditors who pushed Greece over the edge

If they had truly cared, the creditors could have easily prevented a default. Sadly, they found it more important to punish Greece and set an example.


The IMF defaulted on Greece a long time ago

by Jerome Roos on June 30, 2015

Post image for The IMF defaulted on Greece a long time ago

Even its own officials recognize that the IMF played a leading role in Greece’s economic collapse. It is time for the Fund to own up and pay its dues.


Post image for Greek referendum: euro crisis explodes into dramatic climax

Those who accuse the Greeks of “recklessness” are mistaken: the creditors’ utter contempt for democracy left them with no other choice but a rupture.


Post image for In Turkey, a perfect storm gathers on the horizon

A financial crisis looms in Turkey as internal instability and external pressures reveal the contradictions of Erdoğan’s debt-driven development model.

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Post image for Why does Greece not simply get it over with and default?

History has shown that defaulting countries tend to fall harder but recover faster. So why does Greece’s left-led government not simply get it over with?


Post image for Fight for $15 marks a new era of workers’ struggle in the US

The struggle for fair pay is establishing itself as a successor to failed trade union strategies and a key node in the emerging social justice movement.

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Post image for Turkey’s unions are dead, long live the cooperative?

Accidents, killings, massacres: Turkish labor unions are helpless as thousands of workers die every year, while their bosses are shielded by the state.


Post image for Monster bubbles: the delayed crisis of capitalism resurfaces

Seven years since the bursting of a US housing bubble led to financial meltdown, investors and policymakers are already well on their way to the next.


Post image for Ponzi property: the neoliberal delusion of homeownership

The dream of homeownership has led many in the US and UK to buy into a Ponzi scheme of epic proportions. How much longer can the scam be maintained?