Monetary Union – DEMAGAGA

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Europe’s Economic Woes Forestall Worldwide Recovery

The issue of European economic troubles will be addressed at the upcoming G20 summit in Mexico City, Mexico. The crisis with the euro and the implosion of sovereign debts in Greece and elsewhere present strong impediments to the growth of the world economy. Additional issues to be addressed at the meeting include China’s unwillingness to […]

The European Financial Crisis Has Left Greek Society in Chaos

Doctors going unpaid for months. Legions of unemployed swamping benefits offices across the country and a situation in which even the employed are not receiving money. Such is the state of Greece, a society in ‘free fall’ ever since the financial crisis began. [Yahoo News]

Is the European Union Going to Fail?

The bailout of Greece and the sovereign debt crisis in Spain has called into question the long-held notion that a federal Europe was all but an inevitability. Will problems of collective action ultimately doom one of history’s most ambitious political experiments? Will the affluence of the North and the dereliction of South sunder apart a […]

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Is a Spanish Bailout Coming?

The Economist asks why Spain has not yet taken full advantage of the bond buying scheme announced by European Central Bank President Mario Draghi, a plan that was designed specifically to aid countries in Spain’s economic condition. Spanish Prime Minister Rajoy’s reluctance to admit Spain’s need for a bailout has complicated the ability of the […]

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Iceland and Greenland Discuss Adopting the Canadian Dollar as National Currency

The economic downturn has claimed many victims: individual citizens, corporations, countries and potentially entire monetary unions (such as Greece in the euro). Iceland is no stranger to economic hardship, becoming the first nation to declare sovereign bankruptcy in years when it did so in 2008. In order to jumpstart the economy, use of the loonie […]

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Newly Elected French President Francois Hollande Declares: ‘My enemy is the world of finance.’

Francois Hollande, fresh off of his victory over former French President Nicolas Sarkozy, declared during the campaign that the ‘world of finance’ is his enemy and now he has a chance to make good on his promises to dilute the power of the financial sector in French politics. Among his proposals include increasing taxes on […]

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Talks to Form Greek Coalition Government Collapse – New Elections Expected as Euro Zone in Turmoil

Greek President Karolos Papoulias has announced that talks to form a coalition, technocratic government have failed and new elections are expected. Evangelos Venizelos, leader of the Panhellenic Socialist Movement (PASOK), has presided over three failed coalition talks and is now instrumental in forming a caretaker government to chaperone Greece into its next round of elections. […]

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Wall Street: The Intersection of Money and Power in the American Empire, Part 2

Watch Money, Power and Wall Street: Part One on PBS. See more from FRONTLINE. Part II of the PBS special documentary about money, power and politics in the United States. Politics, money, and power are three concepts typically associated together, particularly with regard to the American political system. Often cited by critics as one of […]

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Wall Street: The Intersection of Money and Power in the American Empire, Part 1

Watch Money, Power and Wall Street: Part One on PBS. See more from FRONTLINE. Politics, money, and power are three concepts typically associated together, particularly with regard to the American political system. Often cited by critics as one of the main democratic deficiencies of the American political system, the convenient marriage of money and power […]

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Greek Rage at the Polls Results in Seats in the Parliament for Nationalist, Neo-Nazi Party the Golden Dawn

The start of voting in an early general election in Greece has not gone well for proponents of the European idea: After two years of austerity and financial crisis, the Greek public is turning away from the traditional conservative New Democracy party and the socialist Pasok, the two poles of Greek political life for decades. […]