MUTATION OF THE EUROPEAN CRISIS

These days European crisis is the word of the day. Scattering economies of Greece, Italy, Ireland, Spain and Portugal demand both economic and political response from the EU governments and institutions. The matter, though, is that not everyone is ready to sacrifice national sovereignty for the United Europe. Thus, economic crisis gradually mutates into a political one.

These days European crisis is the word of the day. Scattering economies of Greece, Italy, Ireland, Spain and Portugal demand both economic and political response from the EU governments and institutions. The matter, though, is that not everyone is ready to sacrifice national sovereignty for the United Europe. Thus, economic crisis gradually mutates into a political one.

THREE ROOTS AND THREE COMPONENTS OF A MODERN GLOBAL CRISIS

Modern world is rattled by crises: financial, political ones and then Fukushima. Well-known French sociologist Denis Duclos has published an article in the Le Monde Diplomatique, trying to find the tie between them. According to him, all three crises are the brainchildren of the global capitalist system.

WHAT IS GLOBAL FINANCIAL STABILITY FOUNDED UPON? Part I

Arrest of IMF Managing Director Dominique Strauss-Kahn in New-York has crumbled euro and put the financial aid programs for European countries that fetched themselves in a severe economic situation at risk. It is unknown, whether 62-year-old politician and financier is actually guilty of the things he’s accused of, but the financial consequences of his arrest are on hand. Assuming that Strauss-Kahn, known for his playboy adventures, actually did what he was charged with, that might the most costly liaison in the world. So what kind of global financial order is it, if it can be ruined by a sudden testosterone attack of an aging Frenchman?