English Essays

Scapegoating labour: A favourite pastime during a downturn

Crises are the opportunists’ delight. Recall how a few minutes after the second airplane struck the World Trade Centre, a New Labour spin doctor sent a memo around encouraging various government departments to bring out ‘bad news’ stories, hoping that the fallout from New York would hide them from public view long enough to defuse […]

English Essays

The Empire is Striking Back, gross failure continues to be handsomely rewarded, and the world economy struggles to find its footing without the Global Minotaur.

That the Empire has struck back there is no doubt. Goldman Sachs’ Lloyd C. Blankfein just rewarded himself with $19 million bonus  for 2010: the year during which he appeared in front of a Senate Committee, a court , an SEC investigation revealing in full technicolor the great variety in which GS broke the law, manipulated […]

English Essays

Tobin's tax and the parlous state of our European democracy

Did you know that the Greek government managed, through heroic and brilliant bargaining, to extract from the latest Eurozone Summit an agreement that the Tobin tax will, at long last, see the light of day – at least in the eurozone? Well, nor did I. But apparently, this is precisely what happened, if the Greek […]

English Essays

Breaking News: No Redemption for Greece, for Ireland or for Europe. And an interesting query regarding the ECB's role under the Modest Proposal

Sad news from the EU summit (that the media are presenting as yet another ‘breakthrough’): Just  heard the news that our EU leaders are making progress in reaching an agreement on extending the Greek EU-IMF loan repayments by a few years and reducing the interest rates for Ireland by 1%. The possibility of allowing the […]