Tag: globalization

Budget failure at EU meeting shows the bloc is unraveling

Vol. 84/No. 10 - March 16, 2020
Greek teachers protest against layoffs in Athens, March 21, 2014. “Merkel out” sign shows anger over Berlin’s demand that Athens impose greater “austerity” on working people to get new EU loans. In 2018, Greek rulers agreed to restrictions on social spending for next 40 years!

A rancorous summit over the European Union’s effort to adopt a new six-year budget broke up Feb. 21 with no agreement among its rival capitalist powers. The deep divisions among them show that far from coming together after the U.K.…