Financial Crisis

Greenpeace Sends Strong Climate Change Message to G8 Leaders in Italy

The latest G8 meeting is underway from 8-10 July 2009 in Italy. Topping their agenda is the global financial crisis, but environmental NGO, Greenpeace, has sent G8 leaders a strong message about climate change. Known for their radical activism, Greenpeace took over four coal-powered stations across Italy and unfurled huge banners, which asked, "G8: Climate leaders or losers?" It is understood that activists from 18 countries were involved in the action. The G8 hopes to reach...

Double Standards are a Trademark of the Global Economic Order

Picture: Liam Jon D Glenn Ashton - One of the crude features of the inequity in our global economic order is that just eight countries, the G8, make the rules by which an entire planet comprising 192 countries have to live by. The G8 have appropriated this privilege because they are the richest countries in the world. There's something terribly antiquated about the system. If one were to make an objective call on the global economic order, one would have to acknowledge that archaic remnants of 'empire' still permeate...

Goldman Sachs to Pay Out Biggest Bonuses in 140 Years

Picture: fsgm Democracy Now - Guardian newspaper reports staff at Goldman Sachs can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms. Democracy Now's Amy Goodman and Juan Gonzalez speak to Nomi Prins, a former managing director for Goldman Sachs in New York, about the possible record bonuses, President Obama’s proposed...

Greenback Losing Ground as Global Reserve Currency

US senator, Sam Brownback called the SCO (Shangai Cooperation Organisation), "The most dangerous institution, the American people have never heard of." Founded in 2001, the SCO consists of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Mongolia, India, Pakistan and Iran have observer status. The organisation aims to promote mutual cooperation and maintain regional peace, security and stability. On 16 June 09, the SCO hosted its annual meeting in the...

Can Gordon Brown Cling To Power?

In the wake of a rightward shift in European politics, Britain’s Gordon Brown seems to be losing his grip on the leadership of the New Labour Party, while his party itself appears to be losing the support of its traditional grassroots base. Al Jazeera's Riz Khan interviews two analysts to shed more light on the issue. *** RIZ KHAN: Hello and welcome. Is Britain's New Labour dying a slow death? British prime minister Gordon Brown and his party have seen some of the lowest poll ratings...

Thoroughly Modern Marx

American foreign affairs magazine, Foreign Policy, said to be read by business leaders and politicians, including President Barack Obama, published an article aimed at explaining Karl Marx's relevance in this current era of global financial crisis. The article, "Thoroughly Modern Marx", was penned by Leo Panitch.  That this popular mainstream, pro-business magazine chose to publish an article about Marx, has caused a stir in progressive circles. Paul Jay of The Real News...