Europe

Europe

Brexit: Born out of crisis and is going to further aggravate it

British people in 23rd June 2016 referendum have voted to leave European Union (EU). It is a reflection of deepening economic crisis in the imperialist countries and growing disenchantment of the people in developed capitalist countries with political establishment. Response of the Govts. of developed capitalist countries to the explosion of financial economic crisis in 2008 has only increased the gulf between rich and poor. Govts. have rescued the corporate while burden of the crisis has been placed on the shoulders of the common people whose conditions have deteriorated since then. While profligacy of the rich has been rewarded austerity has been imposed on the common people. In a number of European countries unemployment is high and even in the countries like UK where it is not so, the new jobs created are low paid and casual or part-time in nature. On the other hand there has been cut is social security and there is increasing privatization of health services and education putting a lot of strain on the common people. College fees have skyrocketed. Loan burden on the people has increased sharply. World financial economic crisis continues though its effects vary in different countries. It has made the world economy and economy of imperialist countries very unstable.… Read More

Europe

Irish People Reject Austerity Policies

(New Democracy News Service)

Anti-austerity mood of the people of European countries manifested itself once again in Ireland where parliamentary elections witnessed resounding defeat of the ruling coalition of Fine Gael and Labour Party. Like in Spain elections have not given majority to any party. However gains made by Fianna Fail, Sinn Fein and different other groups have unmistakably demonstrated mood of the people against cut in govt. expenditure. Verdict in Ireland conforms to the trend being witnessed in different European countries which experienced severe recession and had to implement austerity measures.

Ireland has been hailed as a success story by the apologists of the present system for having come out of recession. Over last two years, Ireland has recorded highest growth rate among European countries. However, this growth has come about by increasing the burden on the working people and conditions of the people except in middle class areas of the capital Dublin have deteriorated. Despite trumpeting of Ireland’s supposed success, people burdened rejected the policies which increased burden over them. Worst sufferer was junior ruling coalition partner Labour Party which people punished for implementation of austerity policies despite their support base being biggest sufferer of the same. Biggest gain was made by Sinn Fein and Fianna Fail which had campaigned against these policies.… Read More