Economic crisis

This video is called THE GLOBAL FINANCIAL CRISIS — Michel Chossudovsky Jan 2009, Montreal.

USA: Following last week’s release of the bank “stress test” results, banks have moved to avoid even the minimal demands set forth by the White House, in some cases by quickly returning money loaned to them by the government. The goal is to get back to the business of unbridled speculation: here.

New York’s legislature approved $2.25 billion for the MTA transit system, staving off—if only temporarily—deep service cuts, mass layoffs and steep fare hikes, while still placing the burden for the system’s crisis on the backs of working people: here.

Last week, the Italian car company Fiat presented its plans for taking over General Motors’ German auto division Opel, which includes the destruction of at least 10,000 jobs throughout Europe, as well as factory closures at Vauxhall in England and at Fiat plants in Italy and Poland: here.

Since the start of the year Finland’s governing coalition has cut spending in the face of the country’s worst recession since World War II: here.

Is manufacturing industry finished in Britain? Here.

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