Welfare State

There is no guarantee that Greece will be as successful with a return to the drachma, but there are reasons for optimism. First and foremost, the country now has both a primary budget surplus and a trade surplus. The primary budget refers to the national budget without counting interest payments. Greece is running a primary budget surplus of more than 3 percent of GDP (the equivalent of $500 billion a year in U.S. GDP). This means that if it didn’t have to pay interest on its debt, it would not need to borrow to make ends meet.

Last year 900,000 claimants were sanctioned and lost all benefits for four weeks or more, resulting in rent arrears, hunger, a reliance on food banks and all manner of detrimental physical and mental health conditions culminating, tragically, for some, in well-documented cases of suicide and death by other causes
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No solution to the crisis facing the Greek working class can be found within the framework of the pro-capitalist and nationalist program of Syriza. What is required is the building of an independent political movement of the working class, based on an internationalist and socialist perspective.
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There is essentially no chance the Troika (well, really, Germany) will give them acceptable terms on a writedown. Negotiations should be intended only to go on long enough to demonstrate that a good deal is not possible. While they are ongoing, the Greeks should be preparing for Grexit and repatriating all the resources they can.
The post Should Syriza’s Choose The Soft Or The Hard Path? appeared first on BSNEWS.

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”
The post EU Showdown: Greece Takes on the Vampire Squid appeared first on BSNEWS.

This film is radical. With over a dozen NHS insiders as my witnesses, I will tell the alarming story of how the health service as we know it is being quietly abolished. Almost without our noticing, it’s been replaced by a system modelled on the US in which care is delivered by profit-maximising companies that charge patients for treatment which is anyway to be restricted and reduced.

Concerns are growing that we are heading for another banking crisis, one that could be far worse than in 2008. But this time, there will be no government bailouts. Instead, per the Dodd-Frank Act, bankrupt banks will be confiscating (or “bailing in”) their customers’ deposits.
The post Building an Ark: How to Protect Public Revenues from the Next Meltdown appeared first on BSNEWS.

The notion that only the rich should be allowed to have any enjoyment in life is deeply offensive. It is fine for the Bullingdon Club to get plastered on Krug and cocaine and smash up restaurants. That is all jolly japes and high spirits. For a desperate man to seek solace in four cans of Tennant’s strongest or a bottle of Buckfast is however a dreadful sin and sign of social irresponsibility.
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The price of an education is quickly becoming too heavy a burden for far too many people, and it’s a burden that’s staying with them forever. College debt looms large as the most difficult debt to get rid of, and these numbers paint a startling picture of exactly how big a toll it’s taking on people as they age. For many, student debt is following them from the cradle to the grave – they’re condemned to a lifetime of payments that stagnant wages and mounting economic insecurity make it nearly impossible to manage.

When headlines were analysed for evidence of Pro-Union/Pro-Independence framing, it was discovered that whilst 976 (61.8%) headlines showed no obvious bias towards either side, those headlines which did display some form of bias showed that for every headline which framed Scottish independence positively, there were 4.3 articles which were against independence.