Posts tagged ‘Eurozone’

Greek Society Unravels Under Austerity Measures

by , posted on Wednesday, October 24th, 2012 at 3:22 pm

from The Real News Network

Costas Lapavitsas: Merkel’s visit to Greece shows Eurozone leadership don’t want to push Greece out, but situation is explosive as people are furious at austerity measures

Most Greeks Look to Left for Solutions, but Far Right Gaining Strength

Costas Lapavitsas Pt.2: Left party Syriza leads polls but conditions for fascism also developing as crisis deepens

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Joseph Stiglitz on Occupy and Why U.S.-Europe Austerity Will Only Weaken Economic Recovery

by , posted on Sunday, June 10th, 2012 at 10:36 pm

from Democracy Now!

As European leaders scramble to address the sovereign debt crisis, Nobel Prize-winning economist Joseph Stiglitz argues the austerity measures pushed by Germany, the United States and international creditors are only “going to make the countries weaker and weaker.” If European economies contract, Stiglitz predicts that “our economy [will] go down further into the hole. … Those policies then increase the probability of our weak economy tipping over into recession.” Stiglitz’s new book is “The Price of Inequality: How Today’s Divided Society Endangers our Future.” Stigliz continues: “Occupy Wall Street was a reflection of a lot of American’s perspective that our economic system is unfair. … There was a hope after the crisis, that government would fix things, it didn’t. Or didn’t do enough, and that combination of economic unfairness and a political system that doesn’t seem capable of correcting these injustices, I think is what motivated a lot of the Occupy Wall Street.”

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“End This Depression Now”: Paul Krugman Urges Public Spending, Not Deficit Hysteria

by , posted on Thursday, May 17th, 2012 at 2:30 pm

from Democracy Now!

Public spending is under assault from the United States to Europe in the name of fighting deficits. Nobel Prize-winning economist Paul Krugman argues in his new book, “End This Depression Now!”, that the hysteria over the deficit will constrain an economic recovery in a time of high unemployment and stagnating wages. “The economics is really easy,” says Krugman, “If we were to spend more money at the government level, rehire the school teachers, firefighters, police officers who have been laid off in the last several years because of cutbacks, we would be a long way back toward full employment. … Right now there’s just not enough spending. We need the government to step in and provide the demand we need … We’ve had austerity in the face of a recession in a way that we’ve never had before since the 1930s. The results are clear — it is disastrous.” Krugman writes about the economy as a columnist for the New York Times and is a Professor of Economics at Princeton University.

The interview continues after the jump …

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