11 Apr '12, 3pm

The eurozone crisis is back - as expected

The eurozone crisis is back - as expected

To break the crisis, two things need to happen. First, austerity must end. It is counterproductive, but it is followed because finance holds the upper hand. That means ending the swingeing spending cuts and looking to public investment to create sustainable jobs. Second, debts will need to be written off. They are the product of a bloated, crippled financial system and the rest of European society should not be expected to bear their burden. Nor can they: for as long as the debts demand repayment, prospects for any recovery are grim. For Greece, this will mean cancelling all of its outstanding public debt. For Spain, where private debt is the concern, this will require writing off household debts: a general amnesty being declared, perhaps along the lines recently implemented by Iceland. Of course, this will damage the banks; they will need nationalising and – unlike our ow...

Full article: http://www.neweconomics.org/blog/2012/04/11/the-vicious-c...

Tweets

Desalination and Dams? World Water Crisis 101 (Part 2) | Care2 Causes

Desalination and Dams? World Water Crisis 101 (...

care2.com 11 Apr '12, 3am

Care2 Earth Month: Back to Basics This year, Care2 decided to expand Earth Day into Earth Month, since there is so much to...

Besieged by climate deniers, scientist @MichaelEMann decides to fight back #climatechange

Besieged by climate deniers, scientist @Michael...

e360.yale.edu 12 Apr '12, 12pm

Besieged by Climate Deniers, A Scientist Decides to Fight Back Climate scientist Michael Mann, who has faced years of atta...