Tag: Brexit

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