Economy

EU youth guarantee – what is it worth?

Almost one in four young people in the European Union are currently unemployed. In Greece this figure hits 57%, in Spain 56%, in Ireland it is 29%. In total 5.5 million young people are unemployed across Europe and emigration is rife, with people leaving Ireland in numbers not seen since the Famine. In the face of this crisis the European Union has no solution to offer, its latest proposal a ‘Youth Guarantee’ is nothing more than wishful thinking.

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Starbucks pays 35k tax in five years, Google 0.14% tax…

The disgracefully nominal amounts of corporation tax being paid by some of the largest multinationals (MNCs) based in Ireland have come to the forefront of the news in recent months. The right-wing rag The Irish Independent even has had to adopt headlines such as “Google chief: 'I'm proud of tax we pay – it's called capitalism” such has been the incredibleness of the figures.

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Budget 2013 – Together we can defeat austerity

December's budget will see an unleashing of new assaults on public services and living conditions for working class people, writes Paul Murphy MEP. The government and the Labour Party in particular, will declare that unfortunately, there was no other choice. This is a lie.

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Eurozone Crisis: What Next?

Recently engaged in a round of backslapping, the leaders of Europe suggested that we were turning the corner out of the crisis. In Ireland despite all the evidence to the contrary, the government is still trying to talk up the prospect of a ‘deal’ on the bank debt. But on the ground, the crisis is worsening, austerity is destroying people’s lives and the economies of Europe. In the first of two articles on the future of the EU, first published on Irish Left Review, Paul Murphy MEP examines the immediate prospects for the eurozone crisis in the next months.

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Austerity budget threatens 30,000 jobs!

If you were still maintaining “hope” that the economic crisis will soon abate the additional €3.5 billion in austerity at the next Budget will result in potentially another 30,000 job losses according to the Nevin Institute.

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World economy: £13 trillion hidden from tax by super-rich

A sum of money the size of the US and Japanese Gross Domestic Product (GDP) together is being held in offshore tax havens. This enormous hoard could immediately pay off most of the deficits and debt that are being used to justify austerity, and create millions of jobs. Instead it sits in places like the Cayman Islands, making the tax dodgers that put it there even richer.

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Income survey shows austerity is failing

The latest Irish League of Credit Unions “What’s Left” income survey shows deterioration in disposable income and an increased reliance on borrowing to make ends meet. The survey exposes the failing austerity policies that are hitting the incomes and quality of life of millions in Ireland.

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World economy: Riding the double-dipper

Capitalist leaders are in disarray as they strive and fail to get to grips with the eurozone crisis and its threat to the global economy. Neither the G20 summit in Mexico, nor crisis talks in Rome offered any solutions, as politicians and economists desperately try to hang on to the eurozone roller-coaster.

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