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Posts Tagged ‘ Latvia ’
Hudson – Today's Financial Times Article on the Euro Debt Bomb
This is an edited version of The Coming European Debt Wars. Greece is just the first in a series of European debt bombs about to go off. Mortgage debts in the post-communist economies and Iceland are more explosive. Although most of these countries are not in the eurozone, their debts are largely denominated in...
Latvia’s Cruel Neoliberal Experiment
Latvia is being devastated by two global wars. On the geopolitical front is the Cold War’s coup de grâce. Neoliberals have managed to de-industrialize Russia and the rest of the former Soviet Union, persuading parliaments to dismantle government support for economic renewal. The “Washington Consensus” has backed a policy of giving away public enterprises...
The Coming European Debt Wars
Government debt in Greece is just the first in a series of European debt bombs that are set to explode. The mortgage debts in post-Soviet economies and Iceland are more explosive. Although these countries are not in the Eurozone, most of their debts are denominated in euros. Some 87% of Latvia’s debts are in...
Latvia’s Neoliberal Madness
World Economic Crisis: Latvia’s Neoliberal Madness You Think Greece Has Problems? Latvia’s Road to Serfdom By Prof. Michael Hudson and and Prof. Jeff Sommers While most of the world’s press focuses on Greece (and also Spain, Ireland and Portugal) as the most troubled euro-areas, the much more severe, more devastating and downright deadly crisis...
Why Iceland and Latvia Won’t (and Can’t) Pay the EU for the Kleptocrats’ Ripoffs
Financial Times (shorter version) Global Research Can Iceland and Latvia pay the foreign debts run up by a fairly narrow layer of their population? The European Union and International Monetary Fund have told them to replace private debts with public obligations, and to pay by raising taxes, slashing public spending and obliging citizens to...
Finance Capitalism Hits a Wall: The Oligarchs’ Escape Plan – at the Treasury’s Expense
Global Research The financial “wealth creation” game is over. Economies emerged from World War II relatively free of debt, but the 60-year global run-up has run its course. Finance capitalism is in a state of collapse, and a new wave of credit cannot revive it. A quarter to a third of U.S. real estate...
Books by Michael Hudson
