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Parchment in the Fire: Eurozone fears of stagnation grow as France and Italy suffer | World news | The Observer

Eurozone fears of stagnation grow as France and Italy suffer | World news | The Observer.

 

Francois Hollande and Paris’s mayor, Anne Hidalgo, at a ceremony on 25 August marking the 70th anniversary of liberation. Photograph: Joel Saget/AFP/Getty Images

François Hollande removed his government’s leading anti-German, anti-austerity leftwinger last week. By the following day the French president had already co-opted part of the message of the departed disloyal firebrand, Arnaud Montebourg.

As France’s ambassadors from around the world converged on Paris for their annual presidential pep talk, Hollande launched a fresh broadside against Berlin and Brussels. He called for (Read more…)

Parchment in the Fire: Why Italy’s stagnation could be the future for the entire eurozone | Riccardo Bellofiore | Comment is free | theguardian.com

Why Italy’s stagnation could be the future for the entire eurozone | Riccardo Bellofiore | Comment is free | theguardian.com.

This summer Italy fell into a triple-dip recession. After the 2008/09 collapse, the economy stagnated, heading back into recession during 2011 and never really recovering. The philosophy of Giulio Tremonti, who was the economic minister at the time, was to wait and see, until speculation killed Berlusconi’s government. Prime ministers Mario Monti and Enrico Letta followed Brussels’ self-defeating diktat for fiscal rigour, but even with moderate deficits the public debt/GDP ratio soared.

The situation remained under control only (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Ralph Surette suggests that Nova Scotia’s tax and regulatory review pay close attention to the fact that it can do more than simply slash both: Nova Scotia already has relatively low corporate taxes and lower than average taxes for the highest earners. Yet none of this can seem to get into the conversation that has us as high-tax, anti-business and anti-everything. I invite the review committee to pin down where we actually stand on the comparative tax scale.

I also invite it to take note of what’s going on next door. New Brunswick (Read more…)

Parchment in the Fire: An austerity revolt has broken the French government. Will the EU follow? | John Palmer | Comment is free | theguardian.com

An austerity revolt has broken the French government. Will the EU follow? | John Palmer | Comment is free | theguardian.com.

If there were any lingering doubts about the seriousness of the crisis hanging over the future of the euro – and potentially of the European Union itself – the shock announcement of the dissolution of the French government should remove them.

The tensions within the French socialist government have been building up for months as the economy has threatened to “double dip”. But it has been public criticism by the French economy minister, Arnaud Montebourg, of Paris’s compliance (Read more…)

Parchment in the Fire: Merkel seeks Spanish support for unpopular austerity measures | In English | EL PAÍS

Merkel seeks Spanish support for unpopular austerity measures | In English | EL PAÍS.

German Chancellor Angela Merkel traveled to Spain on Sunday for a two-day trip aimed at securing Spanish support for her austerity policies, now under fire in the European Union.

In return, Spanish Prime Minister Mariano Rajoy is seeking Merkel’s help to place two of his officials in top European positions. Specifically, Rajoy wants former agriculture minister Miguel Arias Cañete to receive a relevant economic portfolio, and current economy minister Luis de Guindos to head the Eurogroup, or gathering of European finance chiefs.

Merkel is currently under (Read more…)

Accidental Deliberations: Friday Afternoon Links

This and that to start your weekend.

- Robert Reich discusses how the increasing concentration of corporate wealth and power is undermining the U.S.’ democracy, while noting that there’s only one effective response: We entered a vicious cycle in which political power became more concentrated in monied interests that used the power to their advantage – getting tax cuts, expanding tax loopholes, benefiting from corporate welfare and free-trade agreements, slicing safety nets, enacting anti-union legislation, and reducing public investments.

These moves further concentrated economic gains at the top, while leaving out most of the rest of America.

No (Read more…)

Accidental Deliberations: Sunday Morning Links

This and that for your Sunday reading.

- Robert Green looks at Quebec as a prime example of selective austerity – with tax cuts and other goodies for the wealthy considered sacrosanct, and well-connected insiders being paid substantial sums of public money to tell citizens they’ll have to make do with less: In a move that seems perfectly symbolic of the sort of politics his government represents, Quebec Premier Philippe Couillard announced this week that the five members of the government commission charged with reviewing government programs and recommending where to make cuts will be paid the tidy sum of (Read more…)

Accidental Deliberations: Wednesday Morning Links

Miscellaneous material for your mid-week reading.

- Robert Reich muses about how our economy would look if we actually paid people based on their contribution to society rather than their ability to exploit others. In related news, the Broadbent Institute’s next Progress Gala is looking all the more fascinating with the announcement that Reich will be the keynote speaker.

- David MacDonald studies the distribution of income from the tar sands, and predictably finds that the 1% has managed to suck up obscene amounts of income while leaving crumbs for everybody else. But let’s also note that the smallish gains (Read more…)

Accidental Deliberations: Saturday Morning Links

Assorted content for your weekend reading.

- Rick Perlstein observes that Ronald Reagan’s most lasting contribution to American politics may be his admonition not to recognize flaws or past sins which might require serious responses – and that democratic discourse in the U.S. and elsewhere has yet to recover: (T)he baseline is this moment in 1973 when the Vietnam War ends, and that spring, Watergate breaks wide open, after basically disappearing from the political scene for a while. You have this remarkable thing, where Sam Ervin puts these hearings on television. And day after day the public hears White (Read more…)

Accidental Deliberations: Monday Morning Links

Miscellaneous material to start your week.

- Danyaal Raza and Edward Xie write that a well-designed city environment can make all the difference in enabling individuals to live healthy lives: What if city council took our health into account when designing neighbourhoods? An idea gaining favour in major cities around the world is “complete streets,” a city-planning concept that promotes development of streets usable by all citizens, whether they are pedestrians, cyclists, drivers or transit users. As things stand now, getting to schools, parks and stores without a car is only a dream for residents without the lush tree cover, (Read more…)

Accidental Deliberations: Thursday Morning Links

This and that for your Thursday reading.

- Linda McQuaig criticizes the Cons’ use of the tax system to try to silence charities who don’t match their political message: PEN now joins Amnesty International, the David Suzuki Foundation, Canada Without Poverty, the United Church and other groups that, having criticized an array of Harper policies, have been obliged to devote precious resources to defending themselves from a special probe of charities ordered by the Harper government.

This beefing-up of tax audits of charities is particularly striking when compared to Harper’s laid-back approach to auditing the real bad guys: corporations and (Read more…)

Accidental Deliberations: Saturday Morning Links

Assorted content for your weekend reading.

- Joseph Stiglitz writes that while we should expect natural resources to result in broad-based prosperity, Australia (much like Canada) is now turning toward the U.S. model of instead directing as much shared wealth as possible toward the privileged few: There is something deeply ironic about Abbott’s reverence for the American model in defending many of his government’s proposed “reforms.” After all, America’s economic model has not been working for most Americans. Median income in the US is lower today than it was a quarter-century ago – not because productivity has been (Read more…)

Accidental Deliberations: Wednesday Morning Links

Miscellaneous material for your mid-week reading.

- The New York Times editorial board chimes in on how Kansas serves as an ideal test case as to illusory benefits of top-end tax cuts: The 2012 cuts were among the largest ever enacted by a state, reducing the top tax bracket by 25 percent and eliminating all taxes on business profits that are reported on individual income returns. (No other state has ever eliminated all taxes on these pass-through businesses.) The cuts were arrogantly promoted by Mr. Brownback with the same disproven theory that Republicans have employed for decades: There will (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Linda McQuaig discusses how a renewed push for austerity runs directly contrary to the actual values of Canadians, who want to see their governments accomplish more rather than forcing the public to settle for less: Their formula for achieving small, disabled government is simple: slash taxes (particularly on corporations and upper-income folk), leaving government with no choice but to cut spending — or risk deficits and the wrath of Moody’s, Ivison, the National Post, etc.

The Harper government, deeply committed to this ideology, has followed the formula closely. It has slashed taxes (Read more…)

Parchment in the Fire: Social movements in Spain – 15M

Social movements in Spain – 15M.

From Revolution News

Many things have changed and we need to know how to read reality and celebrate our triumphs. The emergence of the 15M movement did not result in an organisation which currently has a significant number of members. The 15M movement is a social movement. This means, it has served as a catalyst for “moving” social collectives, associations, non-mobilized people, initiatives… and in this sense it still exists today, as another step in the spiral of social reactivation. It radically changed the country’s political climate. The most visible consequences have been the (Read more…)

Accidental Deliberations: Monday Morning Links

Assorted content to start your week.

- Stephen Hwang and Kwame McKenzie discuss the connection between affordable housing and public health and wellness: In 2009, researchers followed 1,200 people in Toronto, Ottawa and Vancouver who were homeless or at risk of homelessness. It was found that they experience a high burden of serious health problems like asthma, high blood pressure and chronic obstructive pulmonary disease. They are also at high risk for conditions like depression and anxiety, and of going hungry.

There’s more. We know that housing in disrepair can lead to accidents, fires and infestations. That overcrowding can lead (Read more…)

Parchment in the Fire: Beyond the European elections, another left-wing force is growing in Europe | Red Pepper

Beyond the European elections, another left-wing force is growing in Europe | Red Pepper.

Pascoe Sabido

However you interpret them, the European elections have challenged the mainstream’s business-as-usual way of doing politics in Brussels. But while many commentators ignore progress on the left, focusing exclusively on the rise of the far right, another left-wing force was making its voice heard the week before people cast their votes. Not through the ballot box, but on the streets, in protest against the neoliberal austerity policies being forced on Europe’s population from above. In Madrid, Rome, Paris, Berlin, Athens and elsewhere, including here (Read more…)

Parchment in the Fire: Dignity Marches In Spain Surround Parliaments

Dignity Marches In Spain Surround Parliaments.

Collective Marches with integrated platforms today under the banner of ‘Dignity’ have surrounded the headquarters of several regional parliaments to protest against cuts in public services, inequality and poverty that lead many citizens to despair.

Following the success of the marches that converged on Madrid on 22nd of March, the organizers have now explained that by surrounding regional parliaments they wanted to express that “the people are sovereign” and “remain vigilant” to the decisions taken in its name.

Filed under: Austerity Tagged: Anti-austerity protest, Spain

. . . → Read More: Parchment in the Fire: Dignity Marches In Spain Surround Parliaments

Parchment in the Fire: Tens of thousands march in London against coalition’s austerity measures | Politics | theguardian.com

Tens of thousands march in London against coalition’s austerity measures | Politics | theguardian.com.

Russell Brand told the marchers there will be a ‘peaceful, effortless, joyful revolution’ against austerity in the UK. Photograph: Rex Features

Tens of thousands of people marched through central London on Saturday afternoon in protest at austerity measures introduced by the coalition government. The demonstrators gathered before the Houses of Parliament, where they were addressed by speakers, including comedians Russell Brand and Mark Steel.

An estimated 50,000 people marched from the BBC’s New Broadcasting House in central London to Westminster.

“The people of this building (Read more…)

Accidental Deliberations: Saturday Morning Links

Assorted content for your weekend reading.

- Andrew Jackson reviews the OECD’s economic recommendations for Canada – featuring a much-needed call for fair taxes on stock options: Special tax breaks for stock options primarily benefit senior corporate executives, especially CEOs of large public companies who are commonly given the right to buy shares in the future at heavily discounted prices. Options make up a big slice of the total compensation of senior corporate executives.

90% of the benefits of the stock options tax break go to the top 1% of taxpayers. The stock options tax break costs the federal government (Read more…)

Parchment in the Fire: It’s Time To Stand Up To Troika Austerity Part II

It’s Time To Stand Up To Troika Austerity Part II.

Thomas Fazi

In the first part of this article I looked at the mounting evidence against austerity by organisations as varied as Caritas, the ILO, the Council of Europe and the IMF. So why is the European establishment pushing for more of the same?

Social and economic misery and despair, growing inequality, dwindling public services, loss of hope and ballooning debts: this is austerity’s scorched-earth legacy. And yet, in a telling demonstration of the extent of their dangerous ideological fanaticism, Europe’s austerity zealots insist that Europe needs ‘more austerity’.

Take (Read more…)

Dead Wild Roses: The 500 – A cautionary tale for North American Workers

The rights we enjoy today in Canada as workers and professionals were not given to us. It was through bloody at times, collective struggle that our rights as workers were imposed on the capitalist class. Power never makes concessions – struggles for basic working benefits must be fought for and taken. The price for humane working conditions can be as high as death or as in the case of Cleaning Workers Union in Greece, permanent disfigurement.

“Vassilis Kikilias, didn’t lose time. Less than an hour after he took office, riot police cracked down on a protest (Read more…)

Dead Wild Roses: The 500 – A Cautionary Tale for North American Workers

The rights we enjoy today in Canada as workers and professionals were not given to us. It was through determined, bloody at times, never-say-die, collective struggle that our rights as workers were imposed on the capitalist class. Power never makes concessions – struggles for basic working benefits must be fought for and taken. The price for humane working conditions can be as high as death or as in the case of Cleaning Workers Union in Greece, permanent disfigurement.

“Vassilis Kikilias, didn’t lose time. Less than an hour after he took office, riot police cracked down on (Read more…)

Parchment in the Fire: Thomas Fazi: It’s Time To Stand Up To Troika Austerity Part I

Thomas Fazi: It’s Time To Stand Up To Troika Austerity Part I.

In my book, The Battle for Europe: How an Elite Hijacked a Continent – and How We Can Take It Back, published some months ago by Pluto Press, I argued that the austerity policies imposed on European member states (especially those of the periphery) by the Berlin-Brussels-Frankfurt ‘axis of rigour’ and by the troika were not only proving to be a colossal failure even by mainstream economic standards, but would also lead to – and in some cases were already leading to – nothing less than a (Read more…)

Parchment in the Fire: Leader in Austerity Push Appointed Head of Greek Central Bank – NYTimes.com

Leader in Austerity Push Appointed Head of Greek Central Bank – NYTimes.com.

By NIKI KITSANTONISJUNE 11, 2014

The announcement on Wednesday, by the General Council of the Bank of Greece, followed a sweeping cabinet shuffle on Monday that installed Gikas Hardouvelis, another economist and former government adviser, as Greece’s new finance minister. Prime Minister Antonis Samaras overhauled his government to give it new momentum after a weak showing in European Parliament elections last month.

Although Mr. Stournaras, 57, was widely credited with guiding Greece’s return to international bond markets in April and paving the way for crucial debt (Read more…)