International Viewpoint - online socialist magazine

• USA
  

  Progressives Strategic Failure: A Warning

  12 July, by Dan La Botz

  Democratic Party candidates are perceived by many voters as part of the system, part of the establishment, which indeed most are. The most common profession of Democratic congressional representatives and senators is law. Most don’t seem to share the common experiences of working class and lower middle-class people, because in fact they don’t. Lawyers’ average incomes range between $150,000 and $250,000, while the median income for American workers is $45,000 to $64,000,

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• Germany
  

  Forcing Refugees To Return to Syria is a Bad Idea

  11 July, by Joseph Daher

  “Not only are the conditions for a safe and dignified return to Syria not given. Without economic recovery and the reconstruction of critical state infrastructure a mass return of refugees to Syria would only worsen socio-economic conditions within the country and threaten large sectors of society dependent on remittances to survive.”

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• Palestine
  

  Israel targets and kills children

  10 July, by Édouard Soulier

  Two damning reports show that, in both Gaza and the West Bank, Israel is deliberately targeting Palestinian children.

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• G7 summit
  

  The G7: the imperialist order under Trump’s leadership

  9 July, by William Donaura

  Held in the shadow of Donald Trump, the G7 summit served above all to confirm the alignment of Western powers with US strategic and energy interests. Behind the declarations of principle, this summit points to strengthened imperialist cooperation, still built on the backs of the people.

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• Kenya
  

  Resisting “green capitalism” in Kenya

  8 July, by Paul Martial

  “Carbon credits enable multinationals to offset their carbon dioxide emissions by funding environmental projects. In Kenya, the Northern Rangelands Trust (NRT) specialises in this type of activity. It manages ‘conservancies’, i.e. areas set aside for this purpose.”

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...and the rest of the current issue

• Ecosocialism

  Many Fronts, One Struggle: A Report on the 7th International Ecosocialist Encounters

• USA

  Trump Campaigns on Anti-Communism as Left Opponents Are Indicted

• Venezuela

  215 years after Venezuela’s Declaration of Independence: Long live the republic

• Middle East

  The framework agreement Lebanon-Israel, a capitulation to multiple threats

• Colombia

  Colombia: in the eye of the storm

Recently posted Features

• Series: Governments submit to “Too Big to Fail” banks (part 3)

  Private banks shamefully enjoy a monopoly of lending to the public sector

  8 September 2014, by Éric Toussaint

  The eurozone banks have the monopoly of lending to the public sector. It is prohibited for the ECB and the eurozone’s central banks to grant loans to public authorities (see box on the ECB). The governments in the eurozone have the possibility of borrowing from publicly owned banks where they still exist, but they do not do so.

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• Series: Governments submit to “Too Big to Fail” banks (part 2)

  Governments make Gifts Galore to Private Banks

  8 September 2014, by Éric Toussaint

  Government aid is made up of guarantees, and injections of capital in order to recapitalize the banks. In the period from October 2008 to December 2011, €1,174 trillion (9.3% of EU GDP [1] ) worth of guarantees were underwritten by European Governments as a contingency measure. To these guarantees must be added €442 billion (3.5% of EU GDP) of public capital support to banks. During 2012 and 2013 the recapitalizations continued: about €40 billion in Spain in 2012 alone, more than €50 billion in Greece, about €20 billion in Cyprus, €4 billion more for Dexia bank in Belgium, €3.9 billion for Monte dei Paschi in Italy, €3.7 billion for the Dutch bank SNS, €4.2 billion in Portugal on top of the Portuguese bail-out of the Banco Esperito Santo in July 2014., not forgetting Ireland, Slovenia, Croatia This assistance was granted without any government supervision of the use made of the funds. [2]

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• Series: Governments submit to “Too Big to Fail” banks (Part 1)

  Central Banks lend massively to the banking sector

  8 September 2014, by Éric Toussaint

  Since the banking bubble burst in 2007, the major Central Banks of the most industrialised countries lend massively to private banks at very low interest rates in order to avoid their failure, thus permitting the big banks that take the most advantage to save considerable amounts in interest payments.

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• Last part of the series: The Banks and the “Too Big to Jail” Doctrine (Part 9)

  The Impunity Enjoyed by the Banks must Stop

  1 September 2014, by Éric Toussaint

  We all know the saying “Too big to fail.” In managing the crisis the banks have caused, the governments of the industrialised countries have adopted a new doctrine that might be summed up as “Too big to jail.”

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