Right now in Ireland one in eight mortgages are in trouble. This represents 95,158 households which are in arrears or have already had their debt restructured. Of these mortgages in arrears 72% have been behind in payments for more than six months and of these the average amount owed is €21,000. For people owing so much, repayment looks impossible without a major transformation in personal circumstance.Read More »
News & Analysis
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In scrambling to avoid a break-up of the eurozone, the approach of the elites in Europe has been characterised by two common themes – austerity programmes to make the working class pay, and a further diminishing of democracy to facilitate the implementation of that austerity.Read More »
With the prospect of a so-called double-dip recession looming in the world economy, pressure is once again mounting on the eurozone. The prospect of one or more countries opting out, or being forced out, of the eurozone is becoming increasingly real as the crisis deepens and tensions between the capitalist classes in northern and southern Europe rise.Read More »
It was a question of ‘Walk, Walk’’ rather that ‘Talk, Talk’ as the telecoms/internet company of that name brutally consigned its workforce to the scrapheap the day before yesterday.Read More »
A protest is being organised by the Alliance Against Cuts in Education (ACE) on September 14th at 4pm outside the Dail, to protest the cuts in SNAs and Resource Teachers.Read More »
With hundreds of thousands of people in negative equity and struggling to pay their mortgages, the issue of revaluing peoples mortgages, or 'debt forgiveness' as the government have tried to brand it, has come up. Here Joe Higgins TD looks at the issues involved from a socialist perspective.Read More »
Fear of recession in the US, its credit rating downgrade and political dysfunction, not to mention the ongoing eurozone crisis, Japanese stagnation and slowdown in China, have all led to convulsions on world stock markets. socialistparty.net reports.Read More »
Brendan Lillis is a West Belfast man who is currently imprisoned in Maghaberry Prison despite a campaign that he be released on compassionate grounds. At the time of writing it has been reported that he has been moved from prison to an outside hospital, but he remains a prisoner.Read More »
As their system continues to slide into its worst crisis since the 1930s, the frantic efforts of world capitalist leaders to reverse the process are farcical, contradictory and ineffective. “Is anyone in control? Is this a runaway train?” asked a presenter on a British news programme on Monday evening - the day Wall Street crashed by 6% and markets everywhere plummeted.Read More »
Thursday, 4 August was a black day on world stock exchanges. In New York, the Dow Jones index fell by 4.3 per cent and the Nasdaq index closed down 5.3 per cent "and all the gains that have occurred since year end were deleted to zero" (as the financial website E24 said, 5 August). "It was an outright massacre," said John Richard, head of strategy at RBS Global Banking & Markets, to the Wall Street Journal about yesterday’s events.Read More »