European Central Bank

Opinion: What if Youth Now Fight for Social Change, But From the Right?

The “surprise” re-election of incumbent Israeli Prime Minister Benjamin Netanyahu in the Mar. 17 elections has been met with a flood of media comment on the implications for the region and the rest of the world.

Opinion: Europe Under Merkel’s (Informal) Leadership

When I am asked whether Europe is still a relevant “protagonist” in the modern world, I always answer that there is no doubt about it. For a long time now, the continent has been shaken by financial crises, internal security strategy crises – including wars – and instability within its borders, which definitely make it a protagonist in world affairs. 

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.

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.

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.

A Federation Could Strengthen Europe’s Magnetism

The recent agreement for the normalisation of relations between Serbia and Kosovo has confirmed that the European Union (EU) is still acting as a “magnet”, attracting its external neighbours and transforming and integrating them. Thanks to its prospects for EU membership, the whole Balkan area has become more stable and secure. Unfortunately, this virtuous magnetism no longer exerts the same force of attraction on our own citizens.

Cyprus Government Holds Bailout Crisis Talks

Political leaders in Cyprus are working on an alternative proposal to stave off bankruptcy after parliament overwhelmingly rejected an international bailout plan.

An eatery in Lisbon offers cheap "troika" lunches to weather the crisis. Credit: Katalin Muharay /IPS

Portugal’s Disappearing Middle Class

Poverty in Portugal has risen to levels that were unimaginable a year ago despite the bleak outlook forecasted by the harsh measures imposed by the troika of creditors in exchange for the country's financial bailout.

Creditors’ Stalemate Brings Greece to Knife Edge

Ignoring the thousands of protestors gathered outside the Greek parliament on Wednesday, the government voted in public spending cuts amounting to 17 billion dollars in an economy already on its knees from a lacerated budget.

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Bankers, Swindlers

For anyone who might not have realised it yet, the current crisis is demonstrating beyond a shadow of a doubt that the financial markets are the lead players in the current economic situation in Europe. Power has passed from the politicians to speculators and crooked bankers. This is a fundamental change.