The Greek crisis will flare up again. And why should it not?

With ongoing austerity and low demand, Greece was never going to manage any sort of growth or budget surplus

Greece has ceased to make headlines. A year ago, the TV cameras were trained on the protesters thronging the streets of Athens because there were fears that a crisis that had been steadily becoming more acute in the first half of 2015 could result in the single currency splintering.

That threat was removed by a deal that involved a humiliating climbdown by the Syriza-led government. Greece received a bailout, but with harsh conditions attached.

Continue reading…

The state can save the UK’s economy – and keep our country safe

As manufacturing plunges towards recession, we must shake off private-sector thinking and allow government to act for the nation’s benefit

As ever, it has taken the smell of Britain’s problems reaching parliament to make government act. After Brexit, the manufacturing sector, which had been ebbing towards recession for some time, has now begun to shrink.

We have too few of the higher-paying jobs that manufacturing can offer to poor white boys and girls, and soon we will have even fewer. This is rotting our democracy, not to mention wasting talent and denying us all the prosperity a full use of our workforce, capabilities and assets would bring.

Continue reading…