Spain: Mass demonstrations against Spain’s latest austerity package

http://www.wsws.org/articles/2012/jul2012/spai-j17.shtml

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Russia: Kremlin prepares for a second economic crisis

As a result of the stagnation in the eurozone, the economic crisis in Russia has worsened considerably. Faced with a looming recession, the Kremlin is preparing massive cuts in social spending. The signs of an incipient recession have been mounting in recent months. Due to falling oil prices, the rouble has fallen against the dollar since... Continue Reading →

Greek government announces further austerity

Just over a week after the European Union summit, at which the government leaders spoke of growth and an end to austerity, all European governments are preparing to implement massive cuts across the continent along Greek lines. In Greece itself, despite the deep recession, further cutbacks are being pushed through. Last Friday, Andonis Samaras delivered... Continue Reading →

EU summit: Averts split with deal to bail out Spanish, Italian banks

  The two-day European Union summit concluded Thursday with an agreement, reached after 14 hours of acrimonious talks, to provide short-term relief to besieged Spanish and Italian banks by allowing the EU bailout fund to directly aid euro zone banks. Previously, the rules governing the 500 billion-euro European Stability Mechanism (ESM), slated to come on... Continue Reading →

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