U.S.: Major Telecom Firm in Struggle With Striking Workers

As unemployed young rioters rage across London and frustrated homeless people in Holon burn tires on the streets of Israel, the great capitalist democracy across the Atlantic is also feeling repercussions from its own floundering economy.

OP-ED: Protest Movements Teach Economics to Bankers

The European Central Bank (ECB) is run by people who are not very good at economics. They continue to adhere to a fundamentally wrongheaded view of the economy and the central bank's role within it.

South Summit of World Leaders in Search of a Venue

The ongoing political turmoil in Libya has derailed plans for a major summit meeting of developing nations scheduled to take place in Tripoli in October.

South America Unites Against “Irresponsible Debtors” in the North

Default, insolvency, fiscal irresponsibility, debt crisis and similar terms form part of the vocabulary used to describe countries in the developing South in the 1980s and 1990s. A decade later, the world seems to have turned upside down.

Q&A: “The Threat of Default Was a Crisis for Wall Street, Not Workers”

After weeks of political wrangling over a budget proposal to settle the country's 14-trillion-dollar debt, U.S. President Barack Obama Tuesday signed into law a bill that would slash 2.1 trillion dollars from the deficit over the next decade.

PORTUGAL: Food Aid for “New Poor”, Extra Wealth for Nouveau Riche

"The crisis is only for some of us" has become a commonly heard phrase in Portugal, following the drastic fiscal adjustment policies imposed in May by the European Union and the International Monetary Fund as the condition for a 112 billion dollar financial bailout.

U.S.: Military Hawks Upset with Debt Deal

As both houses of Congress began debating the 11th-hour debt limit deal hashed out Sunday night by senior lawmakers and the White House, neo-conservatives and other national security hawks complained bitterly Monday that the final package may force major cuts in defence spending in the coming years.

SPAIN: “Indignant” Demonstrators Marching to Brussels to Protest Effects of Crisis

Protesters from several European Union cities have begun to follow the example of hundreds of demonstrators from Spain who are marching from Madrid to Brussels, the bloc's de facto capital, in a growing protest against the effects of the economic crisis and the fiscal adjustment policies adopted to combat it.

U.S.: Recession Turned Back Clock for Blacks, Hispanics

While recession in the U.S. delivered a series of record lows, from crashing property prices to residual birth and marriage rates, an analysis of new census data suggests it accomplished at least one record high - the wealth gap between whites and minorities.

U.N. Puts Spotlight on Youth in Tough Global Climate

Government leaders, U.N. officials and representatives from over 400 hundred youth organisations concluded two days of talks Tuesday on such issues as the importance of youth in eradicating poverty and how to stabilise the global economic system in the face of myriad challenges.

Eurozone Leaders Reach Greek Debt Agreement

Eurozone leaders have agreed in a crucial summit to find a way out for Greece to manage its debt crisis.

World Warned Over Greek Debt Crisis

Eurozone leaders must find a solution to Greece's debt crisis or the global economy will pay the price, the European Commission president has said.

China Offers Lifeline to Hard-Hit Europe

As the debt crisis drains the purses of European countries, EU members are trying to alleviate the economic downturn, in part with the aid of Chinese investments.

Civil Society Unifies Position Ahead of Aid Summit

Civil society groups say they want to have a stronger voice in setting the development agenda ahead of a key global summit on aid effectiveness later this year.

Syria’s Once Profoundly Secular Society Shaken Up

Since pro-democracy protests began last March, Syria’s once profoundly secular society has been shaken up, with deep divides splitting up communities along sectarian lines.

GREECE: Public Outrage over Austerity Plan

The mass protests in Greece swelled by the hour as parliament voted this Thursday to implement the social and economic adjustment plan approved Wednesday, including measures for privatisation, tax hikes, spending cuts and mass lay-offs in the state sector.

U.S.: Public Workers Fight to Preserve Pensions

Municipal workers across the United States are fighting to preserve their pensions amidst a concerted campaign by corporate interests coupled with budget shortfalls facing all urban areas in the current recession.

SYRIA: Ongoing Unrest Threatening Economy

As protests persist in Syria, the economy is becoming an increasing concern for many, who wonder if it will eventually falter in light of the recent unrest.

Greek Parliament Passes Austerity Bill

The Greek parliament has passed an austerity package by a slim majority to slash 40 billion dollars off the national debt.

SUDAN: Feeling the Economic Impact Before Secession

Amira Amer* becomes very picky the minute she reaches the bus station. One by one she lets the new air-conditioned busses pass her by. She is waiting for a cheaper bus. They are limited in the expensive city of Khartoum and are constantly packed to the point of overflowing.

AFRICA: Poor Excluded From Benefits of High Economic Growth

The high economic growth enjoyed by many African states during the 2000s have not led to poverty elimination. This is because the growth did not happen in the sectors where poor people work, as in agriculture, or in the rural areas where poor people live, or simply did not involve labour provided by poor people.