International Viewpoint - online socialist magazine

• Portugal
  

  General Strike Rejects Labour Reform Package Once Again

  6 June, by Adriano Campos

  “It’s turning out to be a major general strike; the data we have from last night shows workers are determined to treat today as a major day of struggle,” said the CGTP’s General Secretary in the morning outside one of the striking schools in Lisbon.

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• Bolivia
  

  “Until the president resigns...”

  5 June, by Javier Rojas

  In Bolivia, mobilizations against austerity and an agrarian reform favourable to the concentration of land have weakened the government of Rodrigo Paz and his neoliberal policies.

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• Spanish state
  

  A step forward in Andalusia

  4 June, by Daniel Albarracín, Pablo P. Ganfornina

  Is this the beginning of a shift in dynamics? To attempt to formulate an answer, our perspective cannot begin with the latest election results, but rather with an analysis of Andalusian political history. In this regard, we operate on a fundamental premise: there is no electoral victory without a prior social and political victory. In the south of the Spanish state, the right wing did not conquer the institutions by chance in 2018; it did so by first winning the battle for "common sense", displacing collective frames of reference and colonising the public agenda long before the ballot box validated its hegemony.

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• Colombia
  

  “Surprise” election result poses new challenges for the left in Colombia

  3 June, by Ana C. Carvalhaes

  The clashes over the next 20 days on the streets, in workplaces and on social media in Colombia will determine not only the name of the country’s new president – between a neo-fascist and a progressive – but also, to a large extent, the balance of power in South America. The Colombian presidential elections, with a second round on 21 June, are a precursor to the Brazilian elections in November and are of central importance to the construction of Trump’s “shield” on the continent.

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• Spanish State
  

  Public education comes to a standstill in a historic strike in Valencia

  2 June, by Moisès Vizcaino, Vicent Mauri

  “May 11th will be etched in the collective memory of the Valencian people. The teachers, the grassroots and union movement, and the entire educational community will make history for the dignity, determination, and strength they demonstrated during weeks of mobilisation and organisation. The indefinite strike is already a moral and political victory against an arrogant, authoritarian government that is completely out of touch with the reality of educational institutions.”

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...and the rest of the current issue

• USA

  Trump, Miller Take away Immigrants’ Rights, Sometimes Their Lives, but Resistance Continues

• Sudan

  France arms the war in Sudan

• Belgium

  Government brutalizes, the street protests in Belgium

• Ethiopia

  Dark clouds over Ethiopia

• South America

  Notes on the Political Situation in South America

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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