The European Central Bank (ECB) announced earlier this month that it was raising its overnight lending rate by a quarter of a percentage point to 1.25%. This is very bad news for people across the euro zone countries and possibly the rest of the world as well. Furthermore, it reveals the democratic deficit of fundamental decisions about economic policy, comments Dean Baker.
The rate rise shows two things. First, the ECB is prepared to slow the euro zone economy and throw people out of work. This is the point of raising interest rates. The ECB targets 2% inflation with the current inflation rate in the euro zone around 2.5%. The inflation rate is above the ECB target due to a jump in the price of oil and other commodities. These price rises in turn are primarily attributable to instability in the Middle East and increased demand from China, India and other fast-growing developing countries ...
Weakening of workers' rights in most regions is being aggravated by severe crackdowns on freedom of speech and assembly, according to the 2016 Global Rights Index. Restrictions on freedom of speech and assembly, including severe crackdowns in some countries, increased by 22%, with 50 out of 141 countries surveyed recording restrictions.
The year 2015 was marked on the one hand by the inability of the European Union (EU) to emerge from the crisis, and on the other by a dramatic rise in the number of people taking flight from their homes and from their homelands, because of wars and terrorist attacks, in many cases caused by the destructive policies of the EU and of its member states.
The world economy stumbled in 2015 and only a modest improvement is projected for 2016/17 as a number of cyclical and structural headwinds persist, says the United Nations World Economic Situation and Prospects (WESP) 2016 report. Global growth is estimated at a mere 2.4% in 2015.
Within a few weeks leftwing governments in Latin America have experienced a breath-taking decline. The Latin American (centre-) left forces suffered several strategic defeats. They occurred in the biggest Latin American economies. First in Argentina, than in Venezuela, and also in Brazil the days of an uncontested majority of left forces are definitely over now.
14 years after their previous strategy on gender mainstreaming, the WBG has decided to develop a new Gender Equality (GE) Strategy. This briefing document presents WIDE+ critical reflections and key recommendations to enhance the new World Bank Group's (WBG) strategy on Gender Equality.