Financial Crisis

Honesty to Contest Pakistan Elections

A new politics of honesty – and of campaigning for honesty – is surfacing in Pakistan. Its two prominent fronts are both Pakistanis who carry also a strong foreign stamp. What many within the country find more encouraging is the strong support people are giving them.

U.S. Austerity Ripples Outward

Since the 2008 financial crisis, and most recently with the broad federal spending cuts beginning Mar. 1, experts have warned that an austerity-minded political system could bring about dramatic changes in the U.S. foreign aid model.

Wheels of Industry Slowing in Brazil

Industry is the ailing sector of the Brazilian economy, with production falling 2.7 percent in 2012 in spite of government incentives, and in contrast with the strong expansion of retail trade and the lowest unemployment rate in history.

Immigrant Groups Say Spanish Hospitality in Danger

“We used to be seen as really useful, and now we’re a pain in the neck,” said Roberto Suárez, an Ecuadorian who was complaining about proposed fines or prison sentences that could target Spanish citizens who help undocumented immigrants.

Japanese Learn to Mind Their Business for Others

After two decades of economic stagnation and serial natural disasters, a growing number of young Japanese believe social entrepreneurship is the best way to rebuild their society.

Protests in Portugal Get Creative

Indignation in Portugal over rampant joblessness and cuts in wages, pensions and unemployment benefits, together with a growing tax burden, has given rise to innovative forms of protest capable of drawing large crowds.

U.S. Cuts to Global Health Budget “Mass-scale Malpractice”

Public health workers, activists and policymakers are stepping up a last-minute campaign to highlight the global health impact of historic, sweeping cuts to the U.S. federal budget due to go into effect Friday if Congress doesn’t act.

Winter of Discontent Progresses to Bulgaria

Bulgarian prime minister Boiko Borisov of the ruling centre-right Citizens for the European Development of Bulgaria (GERB), announced his resignation Wednesday, following two weeks of sustained protests across the country which were sparked by rising electricity and heating costs.

Abrupt U.S. Cuts Could “Devastate” Overseas Development Programmes

With just a week to go before massive, indiscriminate spending cuts kick in across the U.S. government, policymakers and humanitarian groups are becoming increasingly anxious about the enduring impact the cuts would have on the communities across the globe assisted by U.S.-funded development and aid programmes.

Arménio Carlos: "Hunger is back in Portugal". Credit: Mario Quiroz/IPS

Q&A: “Neoliberalism Negates Human Rights”

Thousands of people marched through the streets of cities across Portugal "against exploitation and impoverishment" caused by the government's austerity cuts, in a protest organised by the General Confederation of Portuguese Workers (CGTP), the country's largest trade union.

Tenants in Spain Win First Battle against Evictions

Public outcry against evictions this week led Spain's parliament to accept a popular initiative against mortgage-related evictions for unpaid debts, which in the past seven days have led to four suicides.

Spain’s Crisis Pits Fair Trade Against Empty Wallets

The Spanish public is well aware of the widespread exploitation of workers in the globalised garment industry. But low prices, shrinking buying power and the lure of brand names act as strong disincentives to responsible clothes shopping.

Energy, Economy Key in Major Obama Address

In a major annual address Tuesday night, President Barack Obama offered further details on a broad and ambitious range of policy priorities, taking advantage of perhaps his single most significant opportunity to guide the public conversation on his second-term agenda.

Argentina Pins Hopes on Bumper Grain Harvest

Argentina has better prospects in 2013 after modest growth in 2012, thanks to an excellent grain harvest and the recovery of Brazil, its main market.

Davos Puts Protests Behind

Barbed wire and safety fences are dismantled, the police and army are withdrawn and freedom of movement is restored. The 43rd annual meeting of the World Economic Forum (WEF) ended last month with negligible protests against the 'global leaders'.

This Is What a Humane Economy Looks Like

The severe crisis crippling Spain is also sparking some creative responses, such the Okonomía project, a teaching initiative that helps individuals and communities to understand the workings of the economy and make more informed decisions to manage their finances.

A Tale of Love Letters and Poison Pens

Several dozen people filled the seats in a downtown storefront Tuesday night to plan how to save a landmark they say belongs to the community - a 99-year-old post office the United States Postal Service wants to sell.

Japan Values Women Less – As It Needs Them More

Despite anti-discrimination laws and a steadily growing number of employed women, Japan is falling behind the rest of the world on gender equality. Widespread discrimination persists, and has only grown more subtle over the past years.

MKhor

Debt Crises, a Damocles Sword

The issue of foreign debt has made a major comeback due to the crisis in Europe, in which many countries had to seek big bailouts to keep them from defaulting on their loan payments. Before this, debt crises have been associated with African and Latin American countries. In 1997-99, three East Asian countries also joined the indebted countries' club.

Latin America Flexes Muscles at Joint EU Summit

The nations of Latin America and the Caribbean strengthened their position with respect to Europe at the CELAC-EU summit held this weekend in the Chilean capital, reaching agreements that protect their natural resources from foreign investors and securing a joint condemnation of the United States’ trade embargo against Cuba.

Homeless people share experiences near a shelter in Málaga, Spain

Living on the Streets No Longer Exceptional in Spain

"That's where I sleep," says Fernando, indicating a puddled area under a bridge. A 62-year-old Portuguese citizen, he has lived in Spain for 15 years, and he is part of the growing number of homeless people in this country wracked by a merciless economic and financial crisis.

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