Eurozone leaders attending the recent G7 summit of finance ministers from the richest capitalist nations let out a howl of impotent anguish. The statement issued after their meeting (7/8 February) at Boca Raton, Florida, deplored the "excessive volatility and disorderly movements" in exchange rates.

THE BOOMS of the 1980s and 1990s were both driven by frenzied international financial speculation. They have left deep problems for capitalism, and now form a massive barrier to a new, sustained economic upswing in the world economy.

DUBLIN HAS the odious task of hosting the World Economic Forum (WEF) from 19 - 20 October. The WEF, which is a representative "think tank" for the top thousand multinational corporations in the world, plans to hold a summit on "European Competitiveness".

The world economy is on the edge of a prolonged period of stagnation. Before the war on Iraq began, its approach had already made a negative impact. A United Nations statement in January this year forecast: "An escalation into military action would have even more profound negative economic consequences". The...

FINANCE MINISTERS from the seven largest economies in the world met recently to debate how to revive the sick world economy. However, there was little agreement on how to revive the patient.

"The credit system appears as the main lever of overproduction and over speculation in commerce solely because the process of reproduction, which is elastic in its nature, is here forced to its extreme limits.

THE US, the most powerful economy in the world, responsible for a third of world output, is reeling with shock. This time there are no foreign terrorists who can be held responsible for disaster striking. It is capitalism itself that is responsible.

Summer is usually a period when "not much happens", at least in Europe. But this Summer is like the calm before the storm. The mass demonstration in Genoa and the last general strike in Argentina are indications of the tumultuous years ahead.

"Consider the big picture: an east Asia of toppling currencies and bank insolvency: rising unemployment in Latin America’s largest economy (Brazil) and falling real wages throughout the region: stagnation and unemployment in Europe: a rapidly approaching limit to the capacity of US consumers to take on more...

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