Financial Crisis

OPINION: Greece Gives EU the Chance to Rediscover Its Social Responsibility

The European Union should not be afraid of the leftist opposition party Syriza winning the Greek election, but see it as a chance to rediscover its founding principle - the social dimension that created it and without which it cannot survive.

OPINION: Banks, Inequality and Citizens

Every day we receive striking data on major issues which should create tumult and action, but life goes on as if those data had nothing to do with people’s lives.

European Citizens Call for Increased Aid to Developing World

An overwhelming majority of citizens in the 28-member European Union (EU) - which has been hamstrung by a spreading economic recession, a fall in oil prices and a decline of its common currency, the Euro - has expressed strong support for development cooperation and increased aid to developing nations.

Falling Oil Prices Threaten Fragile African Economies

The sharp decline in world petroleum prices - hailed as a bonanza to millions of motorists in the United States - is threatening to undermine the fragile economies of several African countries dependent on oil for their sustained growth.

What the U.S. Should Learn from Russia’s Collapse

After months of whispered warnings, Russia’s economic troubles made global headlines when its currency collapsed halfway through December. Amid the tumbling price of oil, the ruble has fallen to record lows, bringing the country to its most serious economic crisis since the late 1990s.

Cuba’s Reforms Fail to Reduce Growing Inequality

One of the major challenges assumed by President Raúl Castro when he launched a series of reforms in Cuba is improving living standards in a country still suffering from a recession that began over 20 years ago and has undermined the aim of achieving economic and social equality.

OPINION: Europe Has Lost Its Compass

The Swedish Social Democrat government, which took office only two months ago, has just resigned. The far-right anti-immigrant Sweden Democrats sided with the four-party centre-right opposition alliance, and new elections will be held in March next year.

OPINION: The Decline of Social Europe is Part of a World Trend

After the Italian sea search-and-rescue operation Mare Nostrum at a cost of nine million euros a month, through which the Italian Navy has rescued nearly 100,000 migrants – although perhaps up to 3,000 have died – from the Mediterranean since October 2013, Europe is now presenting its new face in the Mediterranean.

Child Poverty in Spain Seen Through the Eyes of Encarni

“I would like to have a big house, and I wish my family didn’t have to go out and ask for food or clothes,” Encarni, who just turned 12, tells IPS in the small apartment she shares with five other family members in a poor neighbourhood in the southern Spanish city of Málaga.

Crisis Fuelled Resurgence of Horse-Drawn Carriages in Cuba

Up and down the streets of towns and cities in Cuba go horse-drawn carriages with black leather tops and large back wheels, alongside more simple carts, operating as public transportation.

OPINION: Rousseff Re-elected President – What Lies Ahead for Brazil?

The tight race between incumbent President Dilma Rousseff of Brazil’s Workers’ Party and her opponent, Aecio Neves from the centre-right Brazilian Social Democracy Party (PSDB) party, ended on Sunday, Oct. 26 with the re-election of Rousseff.

The Invisible Reality of Spain’s Homeless

“It’s easy to end up on the street. It’s not because you led a bad life; you lose your job and you can’t afford to pay rent,” says David Cerezo while he waits for lunch to be served by a humanitarian organisation in this city in southern Spain.

Zimbabwe’s Rich Fuel Inequality Through Illicit Financial Flows

Zimbabwe has lost 12 billion dollars in illicit financial flows over the last three decades and experts say this illegal practice is perpetuating social inequalities and poverty in this southern African nation.

Put People Not ‘Empire of Capital’ at Heart of Development

President Rafael Correa Delgado of Ecuador does not mince words when it comes to development. ”Neoliberal policies based on so-called competitiveness, efficiency and the labour flexibility framework have helped the empire of capital to prosper at the cost of human labour,” he told a crowded auditorium at the 15th Raul Prebitsch Lecture.

Central Asia Hurting as Russia’s Ruble Sinks

Pensioner Jyparkul Karaseyitova says she cannot afford meat anymore. At her local bazaar in Kyrgyzstan’s capital, Bishkek, the price for beef has jumped nine percent in the last six weeks. And she is not alone feeling the pain of rising inflation.

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