Unpacking this little piece from the UK’s number 1 economics blogger: The answer is that it matters for three reasons. The first is that we wouldn’t have a world economic crisis now if we hadn’t had tax evasion. The current crisis focuses on the Euro. Italy is at its epicentre. It has external debt of

There's an interesting interview with Vince Cable here on the Guardian website. He says that the Tories have been caught completely flat-footed by the economic crisis and didn't expect it.He says that many of the economic problems we have originate from the Thatcher years. For example, he argues, the demutualisation of the building societies started in the Thatcher years and that policy has been

With the World Economic crisis biting harder than ever the full effects are being felt in the UK giving the prospect of a miserable Christmas for millions of workers. Meanwhile it seems that Gordon Brown is strutting around the world stage being portrayed as the saviour of capitalism. Only Sarkozy...

By Michael Burke from Socialist Economic Bulletin The Greek economic and social crisis continues to unfold. Around it a series of myths have arisen and been perpetuated. It is necessary first to dispose of some of those myths before moving onto a concrete analysis of the situation. The present author has a piece in the Guardian’s Comment

As we all know and have experienced, the world has been in a prolonged economic uncertainty since 2008. Although many countries had economic recoveries starting from the second half of 2009, the world now seems to be falling into further economic hardship with the European Sovereign debt crisis and housing bubble bursting. For the former, I'm referring to the ongoing problems in Greece, Irela...

The much-discussed interview with the Chancellor published in this morning's Guardian is intriguing. It is so unusual for a politician to be this honest, or for anybody involved in the neurotic world of finance to say anything even slightly negative, that his assertion that this may be the worst economic crisis for 60 years is very unusual indeed. The first question is, why on earth did he sa...

by Ken Livingstone I am writing to let you know about a conference on Saturday 11 July to discuss London and the global economic crisis. The dominant economic orthodoxy since Thatcher and Reagan has been smashed by the deepest economic crisis since 1929. The alternative traditional Keynesian methods may not be sufficient to meet this crisis. In

Gillian Tett and Paul Mason sem to suggest there are three solutions to our economic crisis in their discussion in the Guardian today. They are inflation. to write off the debt; default which writes off the debt, or forgiveness that is in effect consensual default. Serious economics types discussing matters seriously. Excellent. Then the Murphmeister:

The sovereign debt crisis in Europe should not be connected with the German economic policies alone as it has the characteristics of a systemic crisis caused by the lack of economic and fiscal governance, says Ernst Stetter from Foundation for European Progressive Studies More »

The International Labour Organisation (ILO) is warning today that the world economy is slipping into a dangerous third phase of the global economic crisis, where austerity leads to further job losses and lower growth. The ILO calls for stimulus measures based mostly on tax rises, to boost employment without raising public sector debt.