International Viewpoint - online socialist magazine

• Syria

  Syria: Fishing in Troubled Waters

  9 May, by Gilbert Achcar

  Israel has accustomed us to fishing in troubled waters. The Zionist state has long been interested in sowing discord and fanning its flames in striving to redraw the map of the Middle East in its image, so that the logic of sectarian and ethnic fragmentation prevails over the logic of citizenship and shared loyalty to a state that merges sectarian and ethnic groups into a single melting pot while preserving their rights. Inspired by the Roman Empire’s famous principle of “divide and conquer”, Israel has sought, since its inception, to exploit the differences it found in its immediate and distant surroundings, playing sectarian minorities against the regional Sunni majority and ethnic minorities against the Arab majority: Druze, Christians, Kurds, and others – even Shiites during the time of the Shah of Iran, before that country became a hotbed of anti-Israel hostility and contributed in turn to fuelling Shiite sectarianism in neighbouring Arab countries in an effort to expand its regional influence.

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• DRC - Rwanda

  Peace under the seal of business

  8 May, by Paul Martial

  The option of peace between the DRC and Rwanda is now becoming plausible, albeit fraught with obstacles. However, this is proving disadvantageous for Kinshasa.

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• South Africa

  Climate sanctions against fossil-addicted capitalists

  7 May, by Patrick Bond

  The implications of climate-unjust politics are ever more important to interpret and resist. United States President Donald Trump, an unabashed ‘climate denialist’, withdrew his country, the main historic emitter of greenhouse gases, from United Nations negotiations, and should now be sanctioned. But annual UN COPs (Conferences of the Parties) won’t, because the ‘climate action’ approach is dominated by the West and BRICS. They continue to deny the world long-overdue ‘climate justice’ and they won’t punish Trump’s climate crimes.

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• Britain

  Reform – Labour is feeding the monster

  6 May, by Dave Kellaway

  The centre cannot hold! In the wake of Reform’s massive gains in local elections, Dave Kellaway investigates the new political landscape.

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• East Asia

  East Asia: War and revolution

  5 May, by Pierre Rousset

  Once France had been defeated after the Vietnamese victory at Dien Bien Phu (1954), the great powers imposed the Geneva Accords, which were highly unfavourable to the Vietminh, temporarily dividing the country into two military regrouping zones.

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...and the rest of the current issue

• USA

  May Day in America, is it now here to stay?

• Nigeria

  Nigeria: against oil industry impunity

• Mexico

  Mexico: “The right-wing parties are practically in the worst phase of their history”

• Zambia

  Zambia: people are victims of extractivism

• USA

  Trump and America: One-hundred days in the waiting room of fascism

Recently posted Features

• Series: The banks and the “Too Big to Jail” doctrine (Part 7)

  The Big Banks Organise Massive Tax Evasion on an International Scale

  31 August 2014, by Éric Toussaint

  Another example of the “Too Big to Jail” doctrine: International tax evasion and fraud organised by UBS, Switzerland’s biggest bank.
  UBS, which had to be saved from failure in October 2008 by massive injections of Swiss public money, was involved in the LIBOR manipulation scandal, the currency markets manipulation scandal (UBS is the subject of several inquiries by controlling authorities in Hong Kong, US, the UK, and in Switzerland) and the abusive sale of structured Mortgage-Backed (…)

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• Series : The banks and the “too big to jail” doctrine (Part 5)

  Big banks’ tampering with interest rates

  31 August 2014, by Éric Toussaint

  The extremely tolerant approach to the manipulation of interest rates by the governments of the main industrialised countries shows the extent to which the ’Too Big to Jail’ principle is applied. In 2010 the media revealed that a group of eighteen banks had been manipulating the London Interbank Offered Rate (LIBOR) from 2005 to 2010. LIBOR is a benchmark rate used for a market of $350 trillion, in assets and financial derivatives, which means it is the second most important benchmark rate in the world after the dollar exchange rate. The rate is based on information provided by eighteen banks about their funding costs in interbank markets. In 2012 evidence was provided of collusion among big banks such as UBS, Barclays, Rabobank, or Royal Bank of Scotland in order to manipulate LIBOR in their own interests.

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• Series : The banks and the “too big to jail” doctrine (Part 4)

  HSBC: the bank with a shameful past and scandalous present

  31 August 2014, by Éric Toussaint

  The British bank HSBC (Hong Kong and Shanghai Banking Corporation) employs 260, 000 people, has offices in 75 countries, and 54 million customers. [1]
  From its earliest days, it has been involved in the international narcotics trade. It was founded in the wake of the British victories in the Opium Wars (1839-1842 and 1856-1860) against China. These two wars were very important to the strengthening of the British Empire and the century and a half waning of China. Through the Opium Wars, the British Empire forced China to accept opium importations coming from British India. China tried to oppose this commerce, but British arms, backed by Washington, proved stronger. London established a colony in Hong Kong in 1865, where HSBC was created by a Scottish merchant specializing in the opium trade— the basis of 70% of Hong Kong trade with the Indies.

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• Series: The banks and the “too big to jail” doctrine (Part 3)

  Drug and Bank Lords

  30 August 2014, by Éric Toussaint

  The British bank HSBC, which employs 260, 000 people worldwide, is present in 75 countries, and claims to have 54 million customers [2] is another example of the “Too Big to Jail” phenomenon. [3] Over the last ten years, HSBC has laundered $881 million [4] for Mexican and Columbian drug cartels that are responsible for tens of thousands of firearm related assassinations. These relations continue in spite of dozens of warnings from different US government agencies including the Office of the Comptroller of the Currency. The profits from this business are so important that not only does HSBC continue, but it has also opened specialized services in its Mexico offices where drug dealers may simply hand in stocks of cash for cleaning. [5]

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