International Viewpoint - online socialist magazine

• Denmark

  Enhedslisten: Support for more defence - but which defence?

  27 June, by John Jessen

  “The new defence and security policy adopted at the annual meeting does not indicate that initiatives to organize protests against military armament will come from this direction - at least not from the party leadership. Time will tell if others take up the task.”

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• Mexico

  A mixed success for the President in Mexico

  26 June, by Fabrice Thomas

  On 1 June 2025, judges at all levels of the judiciary were elected by direct suffrage throughout Mexico. From local judges to members of the Federal Supreme Court, all positions were subject to a popular vote.

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• USA

  State of the Resistance

  25 June, by Against the Current Editors

  A BIG, BEAUTIFUL popular resistance is trickling up to some of the sites of political power, including the federal courts — although not fast or far enough, by a long shot. That’s been the important takeaway from the first 100-plus days of the Trump administration. But we’re barely at the beginning of what will be a long battle with ups and downs.

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• Argentina

  Cristina Kirchner condemned and banned from election

  24 June, by M. N.

  The Argentine political field is (again) in turmoil. A few months before the mid-term legislative elections, and only a few days after the announcement of her candidacy as a regional deputy, the Supreme Court has just confirmed former president Cristina Kirchner’s conviction for corruption: 6 years in prison and lifetime ineligibility.

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• USA

  The United States at War in the Middle East —Again

  23 June, by Dan La Botz

  The United States has joined Israel in its war on Iran, increasing the chances for a wider regional war, one that could become a forever-war quagmire as the Iraq War did. President Donald Trump sent B-2 bombers to drop bunker-buster bombs on nuclear facilities in Fordo and Natanz while a submarine launched Tomahawk missiles at another facility in Istfahan.

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...and the rest of the current issue

• Russia

  Support the Russian-Ukrainian resistance against accelerating fascism worldwide

• Spanish state

  Miguel Urbán: "There are still set-ups like the one I suffered. There are police infiltrating social movements."

• Libya

  Under the yoke of the militias in Libya

• Palestine

  Down with imperialist wars, no to the Paris Air Show!

• USA/Ukraine

  Ukrainian union leader comments on U.S. left

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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