The Eurozone is passing through the
most serious crisis in its entire history. After Greece comes the
Italian crisis. This places a big question mark over the future of the
euro. We predicted long ago that in a serious crisis all the national
contradictions come to the fore, as we now see with the fractious
relations between Greece, France, Germany and Italy. The European Union
is facing the day of reckoning.
Glasgow University hasn’t been short
of dramatic events over 2011. This includes a march of over 3,000
students against course cuts, a major police operation attempting to
evict a student occupation which was successfully opposed by hundreds of
student protestors, and a tight election for the Student Representative
Council (SRC) presidency which saw the Left come within a couple of
hundred votes of winning. The situation has now developed to the point
where the victor of that election, Stuart Ritchie, has been forced to
resign only months into the first semester.
Workers have not only been balloting for action in Britain but also in Northern Ireland, where the Tory-led Coalition’s attacks on pensions will also apply if carried out. Fightback – the voice of Marxism in Ireland – reports on the ballot results in the North.
“We are all Keynesians now.” So said Richard Nixon, the Republican and former President of the USA, in 1971. Forty years later, it seems that John Maynard Keynes is back in fashion, especially amongst the leaders of the British Labour movement. The reformist leaderships of the Labour Party and the trade unions cling to the Keynesian idea that the economy can simply be “stimulated” back in growing. But as the Marxists have explained before, the current economic crisis is not just part of some boom-and-slump, but is an organic crisis of capitalism, and growth cannot simply be created at will.
The bourgeoisie has never,
anywhere, been able to find the key to unlock the mysteries of their own
economic system. The only way to understand capitalism is to accept and
to explain its contradictory, crisis-ridden nature. It cannot be
perfected; its riddle will never be solved from within its confines.
Precisely because the apologists of capitalism can never accept this
fact, they are forever shifting from one side of the problem to the
other.
Berlusconi has lost his majority in
the lower house of the Italian parliament. Although he won a vote on the
latest round of austerity measures included in the budget, he did so
with less than half the votes of the MPs in parliament. The result of
the vote was 308 in favour, 1 abstention, but with the majority of MPs
not voting. This means the budget was approved but now Berlusconi stands
naked having lost his parliamentary majority. His days are numbered and
the pressure is mounting for him to go – something we are told he has now promised.
On the first anniversary of the great student protest of November last year, several thousand students and trade unionists marched through the City of London accompanied by several thousand police, clearly under pressure to stop a repeat of what happened last time with the Tory HQ.
On November 30th 2011,
three million public sector workers will strike over the
government’s attacks on their pensions. This coordinated strike action
represents the biggest strike movement since the general strike in 1926.
To all intents and purposes it will be a 24-hour public sector general
strike. Unison have already announced a large majority vote for action.
As we write these lines the Papandreou government is staggering towards
collapse. In a matter of days the whole situation has been thrown into
turmoil. Only
last week, eurozone leaders were congratulating each other on agreeing a
100bn-euro loan to Athens and a 50% write-off of its mountain of debt.
Governments cheered. Stock exchanges rose on the announcement of the
deal. And politicians breathed a sigh of relief. A few days later and
everything turned into its opposite.
Last Thursday’s by election in Dublin
West came down to a three horse race between Councillor Patrick Nulty of
Labour who won and Councillor Ruth Coppinger of the Socialist Party who
came third, while Fianna Fáil (FF) squeezed into second place after a
tie for second and third place – on the basis that they had more first
preference votes.
As Europe teeters once more, staring
financial collapse and slump in the face, we provide an analysis of what
happened in Iceland, the first country to go under as a result of the
global crisis of capitalism.
The Tory-led government has come forward today with newly revised
proposals on public sector pensions in the wake of the build-up to the
mass strike on November 30th.