Financial Crisis

Food – Thou Shall Not Waste

“Only two years ago, the soup kitchen was serving 50 meals a day. Today the number has almost doubled and, what is even more worrying, we have started receiving families with children,” says Donatella Turri, director of the Caritas Diocese of Lucca.

Human Development Report Finds South Asia’s Poor on a Knife’s Edge

Millions still live in poverty and even those who have gained the security of the middle-income bracket could relapse into poverty due to sudden changes to their economic fortunes in South Asia, the latest annual Human Development Report by the United Nations Development Programme (UNDP) revealed.

BRICS – The End of Western Dominance of the Global Financial and Economic Order

The sixth BRICS Summit which has just ended in Brazil marks the transition of a grouping based hitherto on shared concerns to one based on shared interests.

Food Insecurity a New Threat for Lebanon’s Syrian Refugees

A declining economy and a severe drought have raised concerns in Lebanon over food security as the country faces one of its worst refugee crises, resulting from the nearby Syria war, and it is these refugees and impoverished Lebanese border populations that are most vulnerable to this new threat.

BRICS Forges Ahead With Two New Power Drivers – India and China

The Sixth BRICS Summit which ended Wednesday in Fortaleza, Brazil, attracted more attention than any other such gathering in the alliance’s short history, and not just from its own members – Brazil, Russia, India, China and South Africa.

North’s Policies Affecting South’s Economies

Since the onset of the crisis, the South Centre has argued that policy responses to the crisis by the European Union and the United States has suffered from serious shortcomings that would delay recovery and entail unnecessary losses of income and jobs, and also endanger future growth and stability. 

Europe and the United States, Allies in Crisis

A few decades ago, even before the end of the Cold War and before and after Ronald Reagan’s election to the White House, analyses regularly referred to U.S. decadence. At other times, it was Europe’s turn for pessimistic descriptions, especially when it could not overcome its ambivalence over deepening integration, and above all because of the failure of its constitutional project. 

Greek Privatisation of Key Sectors Meets Strong Opposition

Plans by the Greek government to sell companies that handle the key resources of energy and water face serious obstacles and its policy to offer investors exceptional privileges in an effort to boost interest in privatisation is coming under strong pressure.

Shoemaking Saves Zimbabwe’s Jobless Youth

For many young Zimbabweans like 19-year-old Shelton Mbariro, running an unlicensed, backyard handmade shoe business has become a way to escape unemployment in this southern African nation.

Argentina Once More on the Map, Invited by BRICS

As Argentina starts to mend fences with the international financial markets, the emerging powers that make up the BRICS bloc invited it to their next summit. This could be a step towards this country’s reinsertion in the global map, after its ostracism from the credit markets since the late 2001 debt default.

Argentina Seeks to Ward Off “Paradoxical” Default

Argentina finds itself in a strange position since the U.S. Supreme Court rejected its appeal Monday to take a case in which a small group of creditors is suing this country for full repayment: it is on the brink of default even though it is one of the countries in the world that has done the most to dig itself out of debt.

U.S. Economy Will Grow But Not Trickle Down, OECD Warns on Inequality

Even though the U.S. economy is now expected to grow – albeit sluggishly – over the coming two years, inequality will not improve without policy reforms, a major grouping of rich countries is warning.


Despite Crisis, Europe Continues to Protect Its Banksters

More than six years after the global financial crisis broke out, European Union (EU) countries continue to protect banks and investments funds from tougher rules, despite abundant evidence of recurrent criminal or reckless activities in the sector, and new accumulation of enormous financial risks.

Small Farmers’ Loss of Land Increases World Hunger

The world is increasingly hungry because small farmers are losing access to farmland. Small farmers produce most of the world’s food but are now squeezed onto less than 25 percent of the world’s farmland, a new report reveals. Corporate and commercial farms, big biofuel operations and land speculators are pushing millions off their land.

Tracking the Democratic “Alternative from the South”

Democratic governance offers a viable option for developing countries to achieve economic growth and inclusion, yet this doesn’t need to follow the Western model, new research released here this week suggests.

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