Photo: apαs

Who will pay the cost of Europe’s defaults?

23rd May 2011 Socialist Action 0

By Nicky Dempsey

Open disagreements have broken out between the EU Commission and the European Central Bank on the issue of whether Greek government debt should be ‘restructured’  or ‘reprofiled’ in some way.  Debt restructuring would require that the bondholders, mainly European (including British) banks, take some losses on their bonds by having their value written down. ‘Reprofiling’ is a much more modest proposal which may involve little more than extending the life of the bonds, so that interest and capital repayments are drawn out over time.

Elections mark further steady rise of Sinn Féin

18th May 2011 Socialist Action 0

By Frances Davis

This week, as Sinn Féin President Gerry Adams’ announced the party’s new Ministerial Assembly team, the party emerged from the fourth consecutive election this year which has seen Sinn Féin’s vote steadily rise – north and south of the border. The 5 May Assembly and council elections in the six counties saw a continuation of a trend in the north – that of an increase in support for Sinn Féin, and of endorsement for the Good Friday Agreement.

Photo: Chris Beckett

Government in difficulty over the NHS

17th May 2011 Socialist Action 0

By Nicky Dempsey

The first serious political difficulty for the current government rose from the student mobilisation against rising tuition fees and the abolition of the Education Maintenance Allowance. The government pressed on regardless – and produced a collapse in the vote for the LibDems at the recent local elections largely because they have been seen to betray a specific pre-election promise.

Photo: Rusty Stewart

Palestinian struggle advances as unity is restored

6th May 2011 Socialist Action 0

By Andrew Williams

The unity agreement signed this week in Cairo between Hamas and Fatah marks a significant step forward in the Palestinian struggle. Under the deal there will be an interim government running the West Bank and Gaza Strip whilst preparations are made for parliamentary and presidential elections within the year. Elaboration of the agreement will unfold over coming weeks, but initial steps are already being implemented, such as on TV broadcasting where the principal Fatah-controlled station is transmitting again in Gaza and Hamas is back on air in the West Bank.