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Thursday, December 20, 2012

Letters: Time to fight for an alternative Europe

Timothy Garton Ash advocates the UK waiting inertly in the wings before holding a referendum on whether to quit or remain in the worsening social and economic shambles that is austerity Europe, something he deems necessary to save the eurozone a la Merkel (Comment, 20 December). Not surprisingly, public support for this kind of EU is tumbling and in response there is the beginning of discussions about changing the direction of the continent. The damaging single market, with its open borders for goods, money and people, allowed German banks to lend to Greeks to import German cars they couldn't afford, and pensioners and the less well off are now being made to pay. The flow of people is increasing tensions across the continent.

The alternative is for Europe to become a co-operative grouping of countries that provides a secure future for its people. Cross-border issues such as climate change, pollution and crime require intra-European co-operation, but the flow of goods, money and people must be slowed dramatically to enable nations to take back control of their future and protect their citizens.

If this is thought too radical a debate for Westminster politicians, then they should consider the election implications of recent polling showing that immigration is a bigger cause for people voting Ukip than arcane discussions about European governance. Nigel Farage must be licking his lips in anticipation of countless Labour as well as Conservative voters flocking to Ukip every time he claims that 27 million Bulgarians and Romanians can in 2014 come to the UK to work, claim benefits and use the NHS.

So when discussing an in/out referendum, let's have a debate as soon as possible about what treaty changes will allow all European countries to regain control of the movement of money, goods and people across their borders. The alternative is likely to be an insecure population, ever more susceptible to the lure of the extreme right; the strutting fascists in Athens should be a warning to us all.
Colin Hines
Author, Progressive Protectionism (forthcoming)


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Amnesty Deplores Greece's Treatment of Migrants


RT

Amnesty Deplores Greece's Treatment of Migrants
ABC News
Amnesty International has condemned Greece's treatment of the thousands of illegal immigrants who slip through its borders every year, saying the financially struggling country is making a mockery of human rights standards. The human rights group ...
Amnesty warns of crisis for migrants in GreeceReuters
Greece abuses refugees, violates their human rights and EU law - Amnesty ...RT
Migrant Workers In Greece Face Exploitation: Amnesty InternationalInternational Business Times

all 175 news articles »

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Amnesty International says Greece's treatment of migrants makes mockery of ...


RT

Amnesty International says Greece's treatment of migrants makes mockery of ...
Fox News
ATHENS, Greece – Amnesty International is condemning Greece's treatment of the thousands of illegal immigrants who slip through its borders every year, saying the financially struggling country is making a mockery of human rights standards. The human ...
Amnesty warns of crisis for migrants in GreeceReuters
Greece abuses refugees, violates their human rights and EU law - Amnesty ...RT
Migrant Workers In Greece Face Exploitation: Amnesty InternationalInternational Business Times
BBC News
all 162 news articles »

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Amnesty International says Greece's treatment of migrants makes mockery of human rights

ATHENS, Greece - Amnesty International is condemning Greece's treatment of the thousands of illegal immigrants who slip through its borders every year, saying the financially struggling country is making a mockery of human rights standards.

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Asylum-seekers and migrants in Greece hounded by police operations and right ...


Asylum-seekers and migrants in Greece hounded by police operations and right ...
Amnesty International
Greece is seriously failing to respect the rights of asylum-seekers and migrants, Amnesty International warned in a briefing published today. Every year, tens of thousands of irregular migrants and asylum-seekers from the Middle East, Asia and Africa ...


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Amnesty deplores Greece's treatment of migrants


Amnesty deplores Greece's treatment of migrants
Huffington Post
ATHENS, Greece — Amnesty International is condemning Greece's treatment of the thousands of illegal immigrants who slip through its borders every year, saying the financially struggling country is making a mockery of human rights standards. The human ...


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Lost Jewish Tombstones Found in Greece


Lost Jewish Tombstones Found in Greece
ABC News
In a find that local Jewish groups have described as highly significant, Greek police said Thursday that hundreds of marble headstones and other fragments from Jewish graves destroyed during the Nazi occupation in World War II have been recovered.

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Greek pensioners march against pension cuts


euronews

Greek pensioners march against pension cuts
euronews
no comment. | |. Current Rating 0.0/5; 1; 2; 3; 4; 5. Current Rating 0.0. Greek pensioners demonstrated outside the Finance Ministry in Athens on Thursday over plans by the government to cut their benefits and pensions.


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Greece's Eurobank posts one-billion-euro loss in Q3


Bangkok Post

Greece's Eurobank posts one-billion-euro loss in Q3
Bangkok Post
Greece's third-largest lender Eurobank on Thursday reported a net loss of 1.095 billion euros ($1.44 billion) over the first nine months of 2012, after writing off six billion euros to help the country reduce its sovereign debt. Women walk past a ...
Greece's Eurobank posts third quarter loss, provisions hurtReuters UK
Greece's Eurobank posts €223m loss in third quarterCITY A.M.
TEXT-S&P affirms NBG, Eurobank, Alpha, Piraeus at 'CCC/C'Reuters

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Politics Weekly podcast: 2012 in review

2012 started with the parties level pegging in the polls. Ed Miliband was being written off in some quarters as a failure and George Osborne was hoping this would be the year that the economy would start to surge out of the doldrums.

In reality, Osborne's March budget proved disastrous. The papers tore into him over his plan to cut the top rate of tax while at the same time raising taxes on such things as static caravans and hot pasties. The Conservatives dropped in the polls and a series of u-turns began to attract the label "omnishambles". The following month, Britain's economy re-entered recession.

Across Europe, similar economic trends could be seen. It was enough to see off Nicolas Sarkozy - he was defeated by French Socialist candidate Francois Hollande. Greece needed two elections to breakthrough a political deadlock as the country came worryingly close to defaulting on its debts.

In America however, Barack Obama bucked the trend. He won a second term in spite of his economic record - but must face fresh battles with congress over his plan to raise taxes to avert a so-called 'fiscal cliff'.

In this end of year review edition we relive the events with Polly Toynbee, Aditya Chakrabortty, Larry Elliott, Angelique Chrisafis, Michael White, Martin Kettle, Andrew Gimson, Richard Grayson, Dan Sabbagh and Hadley Freeman.

Leave your thoughts and highlights of the political year below.

Politics Weekly will return in January 2013.





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Amnesty warns of crisis for migrants in Greece


BBC News

Amnesty warns of crisis for migrants in Greece
Reuters
ATHENS (Reuters) - Greece is detaining migrants, including children, in inhuman conditions unworthy of a member country of the European Union, human rights group Amnesty International said on Thursday. Greece - the main entry point into the European ...
Greece's treatment of migrants shameful, says AmnestyBBC News
Asylum-seekers and migrants in Greece hounded by police operations and right ...Amnesty International
Amnesty International slams Greece over treatment of migrants, asylum seekersKathimerini
Press TV -Spiegel Online -MaltaToday
all 31 news articles »

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George Osborne's solution: make the workers pay | Richard Seymour

Making it easier to sack won't boost productivity – yet the Tories imagine salvation lies in making us a low-wage economy

As of next year, the government will make it much easier for you to be sacked. From April 2013, employers will only need a 45-day consultation period before embarking on mass redundancies, as opposed to 90 days. Workers will be charged a fee for bringing unfair dismissal claims to employment tribunals and the compensation for unfair dismissal is to be cut.

This follows George Osborne's bizarre "shares-for-rights" scheme, derived from proposals made by the venture capitalist Adrian Beecroft. Beecroft's rationale for proposing a whole series of changes weakening employment protection was the assertion, offered without evidence, that workers use their exiguous protections to get away with working below capacity. Taking these protections away would supposedly boost productivity.

On the face of it, any proposal to squeeze workers harder is unlikely to be popular. But Osborne's scheme took the measures a step further, attempting to articulate them as part of a wider hegemonic Tory agenda. By offering cash, in the form of shares in exchange for rights, he hoped to conscript popular support for an attack on the remnants of social democracy. The idea was that hordes of workers, anxious about their low income and accepting the new realism of depression Britain, would happily see their rights turned into commodities. After all, if desperate people will take prized possessions to the pawnbrokers, or borrow from payday loan sharks, who wouldn't exchange flexible working or redundancy pay for a few grand worth of shares? Why shouldn't everything be for sale? At length, why not allow workers to sell all of their rights for a determinate period? Indentured labour could be an idea whose time has come again.

This prospectus for popular neoliberalism floundered for a number of reasons. Businesses were sceptical (payalled link), and of those surveyed by the government only a very small number of companies were considering taking it up. The idea divided the coalition, and the Liberal Democrats, desperate to give the impression of being something other than a faction of the Tory party, insisted that such policies as were implemented would be far removed from Beecroft's proposals. Beyond the Tory right, moreover, the move appeared to have little resonance, and even aroused some controversy due to the increased opportunities for tax avoidance it presents.

Nonetheless, the assault on employment rights and labour costs is proceeding apace (paywalled link). The Tories would prefer it if the plebs saw things their way, but they don't seriously believe they have an alternative. Moreover, while businesses may raise an eyebrow at straw-clutching schemes that pander to the right, they are in favour of anything that makes it easier for them to shed staff.

Part of the justification for this is that Britain's global competitiveness depends on reducing the cost of labour relative to output, or "unit labour costs". The Bank of England notes that unit labour costs have been rising during this recession. One should not confuse this with rising wages. Hourly labour costs, while rising in Europe as a whole, have fallen in the UK. What rising unit labour costs show is that private sector productivity has been falling sharply throughout the crisis.

This is in contrast to the effects of previous recessions, during which fewer workers doing more work led to a dramatic increase in productivity. The reason for the slump in productivity this time is that private sector firms have actually retained large numbers of staff. And despite a million jobs being lost in the first years of the recession, most were quickly recovered. Employers are responding to this recession differently than in previous recessions. They are anxious not to lose skilled workers, as training new ones will be an added cost when the recovery begins. So rather than fire people outright, they prefer to under-employ them or hold their pay down. This is why hourly labour costs decline while unit labour costs increase.

Falling productivity has nothing to do with workers skiving, and everything to do with the parlous state of the economy: it would increase as growth resumes. Attacking employment conditions will not boost productivity, but it will probably reduce labour's bargaining strength and help suppress wages. Yet through the optic of "competitiveness", a great many self-interested dogmas can appear to be rational. Everywhere, the experts and IMF officials say the same thing, from Greece to Portugal to France – cut labour costs in order to be competitive. Preposterously, advanced EU economies are expected to compete with India and China on wages.

The government and the Bank of England are betting on the idea that as Britain cuts workers' consumption, increased exports will make up the loss of purchasing power. The reality is that Britain has no future as a major exporter. Among EU member states, it performs badly.

The truth increasingly appears that those in charge don't have a coherent remedy for the system's failings. They are just determined to ensure that workers bear the cost.


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Greece's Eurobank Needs $7.7 Billion Capital Boost


Bangkok Post

Greece's Eurobank Needs $7.7 Billion Capital Boost
Wall Street Journal
ATHENS—Greece's EFG Eurobank Ergasias SA, the country's second-largest lender by assets, Thursday said it would need a capital boost of €5.8 billion ($7.7 billion) after taking massive losses from the country's debt- restructuring effort earlier this ...
Greece's Eurobank posts third quarter loss, provisions hurtReuters UK
Greece's Eurobank posts one-billion-euro loss in Q3Bangkok Post
UPDATE 2-Greece's Eurobank braced for more bad debt in 2013Reuters

all 22 news articles »

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Greece ETF Rises On S&P Credit Upgrade


Economic Times

Greece ETF Rises On S&P Credit Upgrade
Seeking Alpha
With the eurozone committed to backing Greece, Standard & Poor's rating agency upgraded Greek sovereign debt back to highly speculative, or "junk" status, lifting the outlook on Greek assets and the related exchange traded fund. The Global X FTSE ...
Greece gets a credit rating boost after debt buybackEconomic Times
S&P Lifts Rating on Greece to 18-Month HighWall Street Journal
S&P raises Greece's credit ratingBBC News
Telegraph.co.uk -USA TODAY -New York Times
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Are Greek police 'targeting' migrants?


BBC News

Are Greek police 'targeting' migrants?
BBC News
The Greek government is being strongly condemned for its treatment of immigrants and asylum seekers. An Amnesty International report links the rise in support for the extreme right-wing Golden Dawn Party with attacks on foreigners. The Greek government ...
Greek police endanger migrants' lives: AmnestyFRANCE 24
New Report Blasts Greek Treatment of MigrantsSpiegel Online
Asylum-seekers and migrants in Greece hounded by police operations and right ...Amnesty International
Press TV
all 19 news articles »

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AUDIO: Are Greek police 'targeting' migrants?

The Greek government is being strongly condemned for its treatment of immigrants and asylum seekers.

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Christmas debt boons for Greece but risks remain


FRANCE 24

Christmas debt boons for Greece but risks remain
FRANCE 24
A man looks at New Year's lottery tickets and ads hanging from a Christmas tree in Thessaloniki on December 13, 2012. Greece opened its Christmas stockings early this year with an unexpected debt rating boon and European Central Bank support but ...


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Greek bank reports further losses


Irish Times

Greek bank reports further losses
Irish Times
Greek lender Eurobank reported further losses in the third quarter today as the country's deep economic slump led to a rise in impaired loans and weaker banking income, with the tough conditions seen persisting in 2013. With the economy shrinking at an ...
Greece's Eurobank posts one-billion-euro loss in Q3Jakarta Globe

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Christmas debt boons for Greece


Independent Online

Christmas debt boons for Greece
Independent Online
Greece on Wednesday drew another 16 billion euros in European loans after a decision by EU leaders last week to unblock a total of 49.1 billion euros from the country's outstanding financial assistance package by early next year in return for a new ...


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