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And the Weak Suffer What They Must?: Europe, Austerity and the Threat to Global Stability by Yanis Varoufakis – review

This book is well worth reading if you're interested in how the Eurozone got into such a mess, although it ignores a very important source of financial instability - the relationship between money and energy - and it paints an overly rosy picture of the role that the US has played in the global economy over the past century. By Caroline Whyte.

Viral Speech by George Soros Speech – “the authorities have a three months’ window during which they could still correct their mistakes”

This speech has been causing consternation amongst economists and investors. I suppose it is because Soros is telling the truth of the situation as he sees it stripped of wishful thinking. You will see that Europe is likely to experience an eventful three months at the end of which things will have changed fundamentally - whether for better or worse is impossible to say. I think that Soros smart as he is, may not have spotted a third outcome - that of the recognition of the Euro as a social commons and the ECB as its trustee. [...]

Ann Pettifors’ Predictions for 2012

Ann Pettifor is depressing reading in her blog ‘Debtonation’.  She was right before and sadly, likely to be so again. …We, and many others, expect the banks of all the major OECD economies to collapse over the next few months. This will drag the UK, Eurozone and US down. In other words, and to be [...]

A letter from Australia

Bill Mitchell outlines in comprehensive and heart sinking detail the impossibility of recovery under the current 'austerity reich'. Hes says "Ireland will struggle while they remain in the Eurozone. The system is geared heavily against them."