Austerity measures

Rescue Sinks Greece Further

Greece has started unravelling its civil sector further in an attempt to persuade the Troika - the European Central Bank, the International Monetary Fund and the European Commission - to commit more bailout money by next October.

Europe on the Edge of the Abyss

The economic crisis began in the United States under the administration of then-President George W. Bush, following the collapse of the Lehman Brothers Bank. It came as a result of unregulated globalisation and a neoliberal ideology that places usurious markets, offshore bank accounts, and money for the sake of money, above state power. It is an ideology that ignores citizens, even as they starve.

Malawi’s President Faces a Crisis of Confidence

She has taken a personal pay cut, promised reforms, resumed aid flows from Western donors and put her predecessor’s private jet up for sale.

ECONOMY-EU Portugal, Greece Pose Risk of Contagion

The flood of economic woes devastating Greece and Portugal are evidence that the German prescription imposed by a troika of multilateral creditors is not working, and that both countries are heading into a blind alley, says economics professor Mario Olivares.