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 release of the latest estimates from the Department of Finance in the Stability Programme Update illustrates in cold figures in whose interests austerity is being implemented. The figures prove that society and the economy are being destroyed so that the bondholders will be repaid.
"The news of Eircom's owners' intention to shed at least a further 1,300 jobs on top of the similar amount of voluntary redundancies it has already sought and almost achieved shatters the government guff that we are embarking on an economic recovery".
By Kevin McLoughlin
SOCIALIST POLICIES are needed to solve the economic crisis and its devastating effects on the living standards and lives of ordinary people.
Socialist policies are relevant to the key problems facing people today, the draconian pay cuts, the housing crisis and looming mortgage crisis, the vicious cutbacks in health and education, and crucially the emergence of mass unemployment.
The tax hikes in the budget represent a universal pay cut and are part of an overall desire of the government and bosses to slash general wage levels by up to 20%. They are intent on imposing a race to the bottom. The Quick Service Food Alliance, which is made up of the main fast (bad) food outlets, are attacking some of the lowest paid workers, demanding that they give up payments for Sunday working etc. The minimum wage is also being attacked and undercut by bosses.
