Why the latest euro deal won’t work
Give the eurozone countries a few hours or days, and we’ll find them in a grimmer mood as reality sets in – just like after the July 21st package, writes George Irvin.
Give the eurozone countries a few hours or days, and we’ll find them in a grimmer mood as reality sets in – just like after the July 21st package, writes George Irvin.
As the eurozone (EZ) lurches from one crisis to the next, the whole structure seems increasingly imperilled by its lack of political cohesion, writes George Irvin.
George Irvin runs the rule over the aims of the latest round of quantitative easing, and asks whether it will work for a second time.
The neo-liberal project to shrink the state—although driven by the right and accepted even by parts of the centre-left—is starting to bite hard. Even the financial markets are worried that the so-called debt crisis cannot be solved unless there is growth.
One must now ask whether we are headed for another round of financial crisis similar to 2008 followed by a major world recession or depression.
While a ‘bank levy’ scheme may be approved today, EU ministers will once again have failed to address the longer term questions on which the euro’s future rests.
The longer the EU/IMF continues along its current path, the greater the chance of a second major financial catastrophe, engulfing not just Greece but much of Europe.
George Irvin responds to Nick Clegg’s share giveaway idea for the bailed-out RBS and Lloyds.
Is a negotiated peace in Libya possible? Left Foot Forward’s George Irvin looks at the arguments.
It will not take long for the coalition’s Libyan operation to be seen across the Middle East as hypocritical and self-serving, and resisted as such, says George Irvin.