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Syriza is facing down resistance

Photo: Flickr/Daniella Hartmann

The Syriza government faces great adversity of a European and Greek economic, political and technocratic machinery that is firmly in the hands of a powerful establishment.

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March 30, 2015 |
The IMF makes it clear that inequality can hurt society by allowing the wealthy to manipulate the economic and political systems in their favour, and this is where government action is required.
Columnists

Off with their heads! Exposing the new feudalism

Image: Jixuan Zhou/flickr

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Editor's note: This piece contains explicit descriptions which may be upsetting for some readers.

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Redeye

Left-wing victory in Greece big shake-up for Eurozone

February 11, 2015
| For the past five years, Greece has been subject to a harsh austerity program with devastating effects on the economy. In January, voters decisively rejected austerity in snap elections.
Length: 14:34 minutes (13.34 MB)

The new Greek government pushes back against austerity

Photo: flickr/heipei

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On January 26, a political earthquake brought the left-wing Syriza party to power in Greece with a sweeping mandate to end the six-year nightmare of economic austerity imposed by the European establishment.

Since the 2008 global financial crisis, the so-called German-backed troika -- the European Central Bank, the European Commission and International Monetary Fund -- forced Greece into accepting $275 billion in bailout loans conditional on harsh restructuring measures.

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| December 30, 2014
Columnists

Bank with BRICS

Photo: flickr/J R

Celebrations surrounding the 70th anniversary of the Bretton Woods agreements that created the IMF and the World Bank are low key affairs. It does not help that the U.S. Congress has failed to ratify the most recent agreement to expand the IMF, required to make World Bank resources (tied to IMF borrowing quotas) grow as well.

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March 5, 2014 |
An International Monetary Fund report released this week found that taxing the wealthy to fund programs that reduce income inequality is good for the economy.
| April 19, 2013
Columnists

Multiplying mistakes: Tallying the economic costs of austerity

Photo: Gwydion M. Williams/Flickr

In 1936, the British economist John Maynard Keynes published his celebrated General Theory, a book that provided a scientific basis for understanding the Great Depression, the worldwide slump lasting from 1929 until the outbreak of World War II in 1939. Only recently has the International Monetary Fund realized his research insights apply to today's world economic mess centred in a stagnating Europe, and a slow growth U.S. The IMF rediscovery of Keynes has not yet registered with the Harper government, which continues to mislead Canadians about what to do about the sluggish economy.

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