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The former colony has become an unexpected source of jobs and investment for Portugal in the global downturn. Angola is Sub-Saharan Africa’s third largest economy, after South Africa and Nigeria (1). It is already one of Africa’s biggest oil producers, with an average...
Barclays was fined after admitting attempting to rig the London Interbank Offered Rate (Libor), a measure of how much it costs banks to borrow from each other. Libor is calculated by taking an average – each morning - of the rate that banks report they can borrow at....
One of the biggest pharmaceutical companies in the world, GlaxoSmithKline, the British drugmaker, has agreed to plead guilty to criminal charges, and pay $3bn to settle one of the largest cases of healthcare fraud in US history. The drug giant is to plead guilty to...
Eric Toussaint interviewed by Ana Benačić In this interview first published in Croatian on the portal net.hr and taken up by several websites in Croatia, Eric Toussaint develops ways out of the debt crisis which are very useful for different countries in Europe and...
In keeping with the official documents, the Rio+20 summit of Governments is being called to provide a response to the multiple problems humankind is facing today, starting with the severe environmental crisis, poverty, and the global economic crisis. Except instead of...
Capitalism’s biggest crisis since the 1930s raises the question of what can replace it. A SPECTER is haunting capitalism. As the world economy plunges into its worst crisis since the Great Depression, political discourse in the United States has been dominated by a...
The economic crisis that began in 2008 is getting worse—but it’s finally sparking a fight back in the U.S. IT’S BOTH an exciting and a sobering time to be a socialist in the United States or, for that matter, almost anywhere else in the world. Exciting, of course,...
The crisis of capital at the present juncture when capitalism is deeply financialised is extremely difficult to resolve. The main structural problem of the system is the downward pressure on the rate of profit, but further financialisation is no longer a sustainable...
In coming days, the World Bank will have a new president. Smart money backs Barack Obama’s choice: Dartmouth College president Jim Yong Kim. But two weeks ago, Nigerian Finance Minister Ngozi Okonjo-Iweala was endorsed by her Pretoria counterpart, Pravin Gordhan....