Greece has been under severe economic crisis for the past several years. The Greek government which did not have any foreign debt before it joined the EU in 2000, is now mired in debt. By 2009, the budget deficit stood at 15.7%, which is four times what is allowed by the EU and the external debt was 127% of the GDP. The primary reason for this situation was the easy credit offered to the Greek government by the "troika" of lending institutions, i.e., the IMF, European Central Bank and the European Commission.
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Joint meeting of working people’s organizations in Mumbai
Welcoming the participants, the representative of the Maharashtra Committee of Lok Raj Sangathan hailed the fact that over the last one year, many of the fighting organizations of different sections of the working people, including main sectors of the economy such as transport, manufacturing, banking and insurance etc., have boldly come out in each others' support. He explained that this meeting has been organized to take this unity forward.
Continue readingVictory of the Maruti-Suzuki workers
We were aware that the management always responds very severely and cruelly to any strike by the workers. They will go to any extent to crush us. We had prepared to keep this strike going for 45 days. We had launched the strike only after telling our parents, wives and children that we are starting on this strike and they should hope to see us only when we come out of the gates of the factory.
Continue readingAir India Unions come together to fight to save Air India
On June 9th , 2011, 10 unions representing the different sections of the employees of Air India, including, pilots, aircraft technicians, ground staff and cabin crew, Aircraft Engineers, radio officers and flight officers,Service Engineers as well as the officers came together at Mumbai and decided to form the “Core Committee of Joint Forum of Air India and India
Continue readingCondemn the Continuing US Drone Attacks in Pakistan!
Indiscriminate attacks carried out from unmanned US aircrafts constitute a gross violation of the sovereignty of Pakistan. They deserve to be condemned by all peace-loving people.
Continue readingClinging to state power!
Dear Editor,
The media wants to portray the defeat of the Left parties in West Bengal and Kerala as the defeat of communists. The people need to assess correctly as to whose defeat it really is.
Continue readingPeople of Egypt demand end to relations with Israel
Egypt continues to boil. The fall of the Mubarak regime, and the establishment of an interim government, has not satisfied the working masses. The working masses can see that the military, the backbone of the Mubarak regime, continues to rule and the interim government continues its anti working class, pro US, pro Israeli course. They are demanding a fundamental change in course.
Continue readingLiberalisation of Foreign Direct Investment : Opening the door wider to loot and plunder of our resources
The Department of Industrial Policy and Promotion under the Ministry of Commerce and Industry issued a "Consolidated Foreign Direct Investment (FDI) Policy" effective April 1, 2011. This Policy is part of the on-going effort by the government to promote FDI by progressively removing restriction and reducing regulation of capital from abroad.
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