Here we post a video of a speech by Lynn Walsh, editor of Socialism Today (political journal of the Socialist Party, England & Wales) on the crisis in the world economy and international perspectives. An article dealing with some of these themes in more detail will be included in the new edition of the Socialist
Lynn Walsh: A world in crisis from Stephan Kimmerle on Vimeo.
The Government and opposition parties have signed up to reducing the budget deficit to 3% by 2014. The government has now settled on the figure of €15 billion in cuts over the course of four years in order to achieve this stated goal.
THE GOVERNMENT has finally come out with more details about how its National Asset Management Agency (NAMA) is going to operate.
The proposed NAMA will buy, with government bonds, some 10,000 loans (half of which are behind in their payments and growing) and “assets” worth €90 billion off the banks at a “discount” (to be decided - but the figure of €20 billion is being bandied about).
By Kevin McLoughlin
AT THE start of his speech, Brian Lenihan talked about taking from each according to their means. It sounded as if he was just to about to quote Karl Marx. Alas, very quickly it became clear that he was once again putting his hands deep into the pockets of the working class. His imposition of huge tax increases represents a savage cut in wages.
