À procura de textos e pretextos, e dos seus contextos.

07/03/2010

Entrevista a Manuel Carvalho da Silva: "Não há saída para o País com esta receita"

JOÃO MARCELINO (DN) e PAULO BALDAIA (TSF)

Discurso Directo com Manuel Carvalho da Silva. Após uma greve bem sucedida, o líder da CGTP diz que todos vão ter de continuar a lutar enfrentando medidas de austeridade. Tem a certeza de que Bruxelas vai ter de alargar os prazos para redução dos défices e diz que uma sua candidatura a Belém não está na agenda.

Já se percebeu que o Governo não recua e que este ano os salários da função pública serão mesmo congelados e nos próximos anos é previsível que não subam. Os trabalhadores do Estado terão de se preparar para anos de luta?

Os trabalhadores todos, porque só uma minoria muito reduzida beneficia desta situação a que se chama crise, que se instituiu. Ou melhor, transformou-se a palavra crise numa instituição. Apenas uma minoria muito escassa beneficia desta situação, e co-mo nós não estamos aí com propostas para sair destes bloqueios em que nos encontramos, a esmagadora maioria dos portugueses tem de se preparar para remar contra a maré, porque senão é uma geração comprometida.

Que balanço faz da greve da função pública?

É importante. A dimensão das greves observa-se por vários factores: a adesão dos trabalhadores que as sustentam, mas também a capacidade de colocação das questões que estão em causa e a percepção dos problemas na socieda- de. Há ainda um outro elemento importante, que é o acolhimento ou não do poder - neste caso é o Governo, senão seria o poder patronal - de interpretar os protestos. E eu direi que em vários aspectos a greve foi um êxito. Teve uma participação muito significativa de trabalhadores, num contexto em que há muita precariedade no Estado, muitos trabalhadores com vínculo precário, mas também subcontratação, em que há lutas subsectoriais, como na saúde e no ensino.

E resultados concretos dessa luta, pode haver?

Acho que ficou um bom alerta sobre um caminho que não pode ser seguido. A Organização Inter-nacional do Trabalho [OIT] nos últimos tempos chama a atenção - designadamente a carta do director-geral da OIT enviada à última cimeira dos países ricos - que as três causas que estão a aprofundar a crise neste momento são a redução da retribuição do trabalho, a precarização generalizada dos vínculos de trabalho e o facto de, nesta chamada fase de recuperação, os accionistas, quer do sector financeiro quer dos grandes grupos económicos, estarem a captar o dinheiro e a não disponibilizar uma dimensão suficiente para reinvestimento e dinamização da economia. A crise não é o valor das acções no dia-a-dia da Bolsa, isso faz parte de um outro jogo, a crise é o desemprego, a precariedade, a pobreza, as desigualdades. E aliás, como o Somavia também refere, só se pode chamar saídas da crise às recuperações económicas que criem emprego. E o emprego cria-se no sector privado e no público; portanto, este chamamento de atenção de que há perda de emprego, de que há perda de salário e que isso não é caminho na administração pública, como não é no privado, porque aquilo que se adopta para o público acaba por correr também no privado, é importante.

Sendo que esse não é um caminho de Portugal, é um caminho europeu...

Pois, mas nós sabemos que, se não houver cautelas, no contexto de globalização, há povos importantes no mundo, países de grande influência que nesta viragem de século e de milénio colocaram claramente que, se isto é global, também fazem parte do jogo. Portanto, há uma grande alteração da situação no plano mundial, e se não se tiver isso em conta e os erros estratégicos que têm sido cometidos, se não se travar o comportamento do sector financeiro… O sector financeiro montou ao longo das últimas décadas um processo de captação dos lucros da economia real e esvaziou-a, e agora está num processo de captação dos orçamentos de Estado para a especulação financeira. Isto é um desastre. Nós, tenhamos noção, mesmo na Europa, se não se encontrarem alternativas para isto, podemos estar às portas de uma situação muito complicada. Há quem fale em abismos, eu acho que é possível travar as coisas, mas não tenhamos dúvidas de que não há saída desta situação com as mesmas receitas.

Quanto ao sector privado - também com problemas de precariedade, empregos em risco, que paga impostos -, está solidário com o público e com esta greve?

Há solidariedades e há ruptura de solidariedades na sociedade portuguesa, no seio dos trabalhadores, e não só. A sua pergunta tem dois tópicos que me surgiram de imediato. Usou a expressão "o sector privado que paga impostos"; um dos problemas em Portugal para uma aposta que é prioritária, que é aumentar as receitas do Orçamento do Estado, é que nem toda a gente paga impostos. Os trabalhadores pagam impostos, mas nem toda a gente os paga. Uma das coisas que é preciso ver é o desfasamento da receita fiscal, comparada com a quebra do crescimento económico. Ou seja, a quebra da receita fiscal é cerca de cinco vezes mais do que a quebra do produto. Portanto, há aqui um problema muito complicado. Por outro lado, quem trabalha paga impostos - e quando digo quem trabalha, estou a pressupor os que trabalham por conta de outrem e uma parte significativa dos empresários e dos que trabalham por conta própria, que cumprem as suas obrigações e que também pagam. Mas eu pergunto: se um indivíduo, qualquer um de nós, que ganha um euro pelo trabalho, paga imposto... esse euro que ele ganha pelo trabalho é menos digno do que um que se ganha na especulação financeira ou que se manipula nos bens mo-biliários? Porque não pagam esses impostos? Essa é uma questão. A outra, que observou, é em relação às solidariedades. Um dos problemas da sociedade actual é a ruptura de solidariedades em vários planos. Podemos entrar no campo social e até no campo territorial, mas no mundo do trabalho há rupturas profundas entre gerações, e essas rupturas são talvez o problema mais grave. O desenvolvimento da precariedade do trabalho é a mãe dessa ruptura de solidariedades; mas não é só essa, é também o estilo de vida que se vai desenvolvendo na sociedade. Nós estamos numa sociedade de individualismo e de consumismo, que cruzados são uma receita explosiva, estamos num tempo negativista complicado. É fácil colocar os trabalhadores uns contra os outros, a discutir entre o que ganha 800 euros e o que só recebe 400, a disputarem entre eles, entre o que ganha 1500, ou 2000 e 3000, escondendo que os problemas de fundo não são esses! No sistema capitalista em que estamos, é natural que haja diferenças salariais. Não me choca que haja diferenças salariais de um para dez, às vezes até mais. O problema não é a diferença de um para 20, ou de um para 30; é de um para mil, de um para dez mil, de um para 50 mil, esse é que é o problema. E quando se entra neste esquema "se tu tens e eu não tenho"- e o ter pode significar ganhar 700 euros e outro ganhar 500 -, entra-se numa espiral regressiva sem fim. Ou seja, o problema é estruturante, é ir ver onde está a riqueza, onde se concentra e produzir uma outra distribuição. E, por outro lado, mobilizar e responsabilizar todos para se produzir mais.

Haverá mais solidariedade entre público e privado quando acontecer aquilo que há pouco referia, que o que se determina para o público acaba por ter consequências no privado? Haverá necessidade de falar com a UGT para uma greve geral este ano se as coisas seguirem assim?

Insisto permanentemente numa ideia. Convençamo-nos de uma coisa muito simples, em Por-tugal em concreto, mas isto também se aplica aos outros países: não vamos ter saída dos bloqueios em que nos encontramos se não tratarmos a dimensão dos problemas com realismo. Ou seja, há dimensões que vêm do exterior, da crise internacional; há dimensões que são internas e que precisam de ser sistematizadas para haver resposta. A primeira questão é esta. A segunda é que não vamos ter saídas desta situação com as receitas do passado. Se o País se submeter ao determinismo financeiro na sua estratégia - vamos ver o que vem aí do Programa de Estabilidade e Crescimento -, não há saídas: é preciso mobilizar a sociedade, era muito importante que se desenvolvessem compromissos largos na sociedade portuguesa face à situação em que estamos. Mas isto tudo só é possível se os portugueses e portuguesas se mobilizarem, não vem aí nenhum governante com uma receita milagrosa ou com uma varinha de condão. Por parte dos sindicatos, só há um caminho - esclarecer, sensibilizar e mobilizar. Vai ter de haver muita luta.

E isso pode significar a convocação de uma greve geral?

Posso considerar-me um sindicalista com alguma tarimba, e uma coisa que um sindicalista não pode fazer é falar de greves ou de lutas por anúncio. Trata-se de preparar as coisas conforme são necessárias, e, a partir daí, fala-se delas em termos de concretização, quando a decisão está assumida. O que lhe digo é que precisa de toda a unidade na acção e mobilização, de todo o desenvolvimento de capacidades de luta dos trabalhadores e do povo português para que as coisas mudem. Se virmos as receitas das alternativas, agora em torno da discussão das lideranças do PSD; se esperamos sair da situação em que estamos com isto, estamos lixados, porque é mais do mesmo, e não se vai lá.

Não há mesmo possibilidade de Portugal, por uma vez, ter um compromisso nacional sério entre patrões e empregados que permita um combate nacional à crise económica e social?

É um grande desafio. Eu sou, pela lei da vida, um sindicalista em fim de percurso, mas tenho pensado, nos últimos tempos, nesta situação em que o País está. E face àquilo que é necessário fazer, se fosse possível um contributo mínimo, da minha parte como de outros, para se chegar a um compromisso que desse um sinal de inovação social, de responsabilidade partilhada, isto era extraordinariamente importante. Mas há pressupostos para isso. Não é possível chegar lá se a base de reflexão para a análise dos problemas concretos e para se encontrarem respostas concretas não for uma análise séria e equilibrada. E neste momento há um problema: há um desequilíbrio enorme de poder entre os representantes do capital e o trabalho.

Isso existe por todo o lado, e há países em que é possível uma maior aproximação entre os interesses de ambas as partes.

Não existe, nós somos o país da Europa com pior distribuição da riqueza, com mais desigualdades, não nos esqueçamos disso. Isto significa que o desequilíbrio é maior.

Mas isso tem que ver com a qualidade do nosso patronato?

Tem que ver com os portugueses, em primeiro lugar; tem que ver com as práticas patronais. Não tenho nenhuma ideia de que os patrões são intrinsecamente maus, isso é um disparate absoluto, são seres humanos como os outros. Agora, há práticas! E, por exemplo, em Portugal, os empresários sempre tiveram no Estado um chapéu protector. Tinham antes do 25 de Abril. É uma coisa curiosa, porque no período do fascismo nós tivemos sempre os grandes sectores patronais em Portugal - salvo raras excepções e pontuais - numa posição de usarem os mecanismos repressivos que o regime colocava nas relações com os trabalhadores e nunca valorizarem o sindicalismo. Por exemplo, em Espanha havia sindicalistas presos, estou a lembrar-me de Marcelino Camacho e Nicolás Redondo. Já discuti isto há uns anos com ele até a propósito de um debate que o dr. Mário Soares organizou sobre a transição em Portugal e a transição em Espanha. E uma das coisas que se observam é isto: havia grandes empresários que iam à prisão visitar o Nicolás Redondo e o Marcelino Camacho para negociarem com os sindicatos as condições de trabalho e resolução de conflitos. Cá, o patronato colocou-se sempre num proteccionismo.

E não será consigo na CGTP que algum dia esse acordo se fará em Portugal? Não estarão reunidas as condições a curto prazo?

Desejo que estejam, gostava imenso de contribuir para isso! Os pressupostos são estes: se formos ver as revisões da legislação laboral, ainda não se terminou uma revisão da legislação e já estão os principais representantes patronais a reclamar outra, sempre no mesmo sentido, nunca se consolida nada! Se formos ver a aplicação da lei no trabalho em Portugal, é um problema, esse era um importante compromisso, uma mudança de atitude dos portugueses face à lei nos mais diversos campos, mas no trabalho é desastroso! Essa é uma questão, a construção de relações equilibradas. A outra é a atitude perante os compromissos, estou cheio de ouvir ao longo do tempo os representantes patronais que chegam ao fim de um compromisso e dizem: "Sim, é isto, agora quem determina as coisas são as empresas." Os grandes patrões portugueses não metem a cabeça no funcionamento das organizações patronais. Procuram estratégias de as influenciar e de elas funcionarem a favor dos seus interesses, mas não metem a cabeça e não se submetem. Este é um outro problema. Se não houver um exercício de moralização da governação - e não me refiro apenas às práticas dos governantes, mas entendida como exercício dos responsáveis de todas as instituições e também da gestão das empresas e das instituições em geral -, se não se conseguirem passos neste sentido a curto prazo em Portugal, não há condições para desenvolver um compromisso. A proposta da CGTP de levantamento de questões em relação ao Pro-grama de Estabilidade e Crescimento pode ser uma base de criação do tal lastro de confiança. Não estão ali as respostas aos problemas concretos, mas está uma base para discutir. É precisa uma discussão séria, não estes exercícios sucessivos de concertação social apenas para ajudar a agenda dos governos.

No Ministério do Trabalho está agora Helena André, uma antiga sindicalista. É mais fácil trabalhar com ela do que com Vieira da Silva?

Pela Helena André tenho respeito e até amizade pessoal, mas a partir do momento em que estão no poder, nunca mais trato por tu a não ser em privado. Tem uma experiência sindical, sobretudo a nível europeu, mas há coisas que começam a atrasar muito, designadamente o problema da contratação colectiva e a forma como se encaram os salários, que não é um subsídio, mas uma parte da produção de riqueza.

http://dn.sapo.pt/inicio/opiniao/discursodirecto.aspx?content_id=1513061

Gregos começam a sentir efeitos de aumento de impostos sobre combustíveis

Comment penser l’après capitalisme ?

Vendredi 12 Février, j'étais avec Isabelle Garo, professeur de philosophie, pour parler de l'après capitalisme et de sa contribution à l'ouvrage Post-capitalisme (voir aussi cette émission).

Nous avons abordé de grandes questions : Comment penser l'après capitalisme ? On parle de crise financière, de crise économique, de crise environnementale. Quel niveau de remise en question les crises actuelles entrainent-elle ? Le capitalisme est-il à bout de souffle ? S'agit-il simplement d'humaniser et de moraliser un capitalisme qui se veut indépassable ?

Grace à la contribution d’Isabelle Garo, il nous faut « penser ensemble les finalités et les transitions ». Elle analyse l'idéologie actuelle et tord le cou à certaines idées pré-fabriquées sur le communisme...

Ecouter ou Podcaster l'émission

http://autrement.blogspirit.com/

Sovereign Debt and the Economic Crisis: When Countries are Bankrupt...

Bob Chapman - Global Research, March 6, 2010

Sovereign debt hangs like an albatross around the necks of too many countries. There are 17 medium-size to large countries that are close to, or are bankrupt. Many are being kept solvent by using two sets of books and by marking to model. As you know we expect these bankruptcies to take place by the end of 2011. That will be accomplished at meetings such as we saw in the 1970s at the Smithsonian, the Plaza Accord of 1985 and the Louvre Accord of 1987. There will be a realignment of currencies.

America, like many other nations is mired in an inflationary depression, and even if the economy were to return to where tax revenues accelerated, we would still have a deficit of 6% to 8% of GDP. In order to have real recovery we need a public debt to GDP ratio of 3%. The problem is government refuses to cut deficit spending. Such policies curtail investment and lasting productivity growth. An economy cannot long endure a government that represents 24% of GDP. In the late 1960s we had government spending at 20% of GDP. There was a run on our gold dollar backing and on 8/15/71 gold backing had to be abandoned. Thus, you can see how difficult today’s problems are. In fact during the depression it was only 10%. As you can see what we have today is a monstrous situation. Government is destroying our country and worse yet our debt can never possibly be repaid. A federal deficit of 10% of GDP cannot long be tolerated. Quantitative easing is supposed to end this month. If it is not foreigners will probably totally stop buying dollar denominated assets. That means more Fed secret buying, more monetization and more inflation to accompany the M3 increase of 29.5% in money and credit. Those actions surely will put pressure on America’s AAA credit rating. America has joined the ranks of nearly bankrupt or bankrupt nations. America’s finances are a giant fraud and over the next two years it will be plain for all to see.

The three best plays investment wise is to be long gold and silver related assets and to be short the general stock market, as well as bonds. Over the past two years the treasury and the Fed have spent $12.7 trillion and are liable for $23.7 trillion, so says our inspector general. Things are not getting better they are getting worse. What does government do after the stimulus and quantitative easy ends? If they do more of the same the problem will just worsen. They have no permanent solution. They are like a ship without a rudder in a stormy sea and the rocks are not far away.

Challenger says planned layoffs fell in February to the lowest level since 2006, some 42,090.

Private employers shed 20,000 in February off from 60,000 in January.

Credit card charge offs rose 112 bps to 11.37%. 60-day plus delinquencies fell for the second straight month, down 3 bps to 4.16%, as the 30-day fell 6 bps to 5.38%.

Ron Paul was on Fox with Stewart Varney where he stated a currency crisis is coming. When pressed by Varney as to what he is investing in, Paul told Varney gold. “I’ve been buying gold since 1971 at $35.00 to protect my family.”

Initial claims for state unemployment benefits dropped 29,000 to a seasonally adjusted 469,000. The economy lost 8.4 million jobs since 12/07. The 4-week moving average fell 3,500 to 470,750.

Fourth quarter non-farm productivity was up 6.9% and unit labor costs fell 5.9%.

The commercial paper market fell by $20.4 billion to $1.134 trillion.

January pending home sales fell 7.6% to 90.4 from 97.8 in December. Year-on-year it was up 12.3%.

January factory orders rose 1.7%. December’s were up 1.5%. Orders have risen for the past ten months. Transportation equipment orders rose 15%, the biggest increase since 7/09, as commercial aircraft orders soared 118.6%.

Otherwise new orders rose 0.1%; inventories rose 0.2% after falling 0.2% in December.

The monster employment Index rose 10 points m-o-m in February to 124 and y-o-y from 122.

Citigroup is suing Morgan Stanley for $245 million, alleging Morgan failed to make good on credit default swaps held by Citi. A judge will decide the outcome.

The Senate on Tuesday passed a $10 billion measure to maintain unemployment benefits for the long-term jobless and provide stopgap funding for highway programs after a holdout Republican dropped stalling tactics that had generated a Washington firestorm.

Kentucky Republican Jim Bunning had been holding up action for days but conceded after pressure intensified with Monday's cutoff of road funding and extended unemployment benefits and health insurance subsidies for the jobless.

Bunning wanted to force Democrats to find ways to finance the bill so that it wouldn't add to the deficit, but his move sparked a political tempest that subjected Republicans to withering media coverage and cost the party politically. Bunning's support among Republicans was dwindling, while Democrats used to being on the defensive over health care and the deficit seemed to relish the battle.

The bill passed by a 78-19 vote. It passed the House last week and President Barack Obama is likely sign the bill into law quickly so that 2,000 furloughed Transportation Department workers can go back to work on Wednesday.

Doctors faced the prospect of a 21 percent cut in Medicare payments, and federal flood insurance programs had lapsed with Monday's expiration of an earlier stopgap bill that passed late last year.

Tuesday's action will provide a month-long extension of the expired programs to give Congress time to pass a yearlong — and far more costly — fix that's also pending.

Without the legislation, about 200,000 jobless people would have lost federal benefits this week alone, according to the liberal-leaning National Employment Law Project. Jobless people normally get 26 weeks of unemployment benefits and 20 more weeks in states with higher unemployment rates. The legislation extends several additional layers of benefits added since 2008 because of the stubborn recession.

The ISM non-manufacturing purchasing manager's index indicates that the US service sector had a better-than-forecast February rising to 53.0 from 50.5 in January. The market had only expected a more moderate improvement to reach 51.0.

The US lost 20,000 jobs in February versus January's destruction of 60,000 jobs, which was revised down from the 22,000 jobs eliminated originally reported, according to the ADP employment report.February's decline is the lowest since the the US economy began shedding jobs at a historic rate in February 2008. 

The report also indicated that the US could turn the corner in March and see job growth for the first time in two years.

U.S mortgage rates retreated below 5 percent last week, propping demand for home loans after purchase applications sank to a nearly 13-year low the prior week, Mortgage Bankers Association data showed on Wednesday.

February's volatile swings in housing demand comes on the heels of a steep January sales slump, blamed mainly on unusually harsh winter weather.

The industry group's market index, which measures requests for loans to buy homes and refinance, rose by a seasonally adjusted 14.6 percent in the week ended Feb. 26 to the highest level since mid-December.

Purchase applications increased 9 percent while refinancing requests jumped 17.2 percent last week as average 30-year mortgage rates fell 0.08 percentage point to 4.95 percent.

"Mortgage applications rebounded last week, particularly refis, as rates dropped back below 5 percent," Michael Fratantoni, vice president of research and economics at MBA, said in a statement. "Purchase activity remains subdued, with application volumes remaining within the narrow range seen in the last few months."

Gov. Jan Brewer wants Arizonans to volunteer to provide some of the social services being reduced by the state's budget crisis.

Brewer on Tuesday announced creation of a task force to coordinate efforts by religious groups and other nonprofits to serve the elderly and other people needing assistance.

Brewer's office says volunteer activities where organizations could help include foster parenting, supervising child visitations, providing transportation and helping with care for the elderly and children from low-income families.

Arizona has cut social services to help reduce big budget shortfalls.

Brewer says she hopes the state "can reach out and get a lot of volunteers" and that their efforts "will change peoples' lives."

House Financial Services Committee Chairman Barney Frank asked Federal Reserve Chairman Ben S. Bernanke to investigate allegations of Fed involvement in the Watergate scandal and Iraqi weapons purchases in the 1970s and 1980s.

Representative Ron Paul asked questions about “inappropriate political interference” and “hidden transfers of resources” during a Feb. 24 hearing with Bernanke, and the allegations “must be fully investigated,” Frank said in a letter today to Bernanke and obtained by Bloomberg News.

Frank, 69, said the Fed must address the charges because “continued concern about political interference” with the Fed and “allegations about a lack of transparency.” Bernanke and other Fed officials are trying to fend off a measure offered by Paul, which passed the House in December, that would open the Fed to audits of interest-rate decisions.

“These specific allegations you’ve made I think are absolutely bizarre, and I have absolutely no knowledge of anything remotely like what you just described,” Bernanke told Paul, a Texas Republican who wrote the 2009 book “End the Fed,” during last week’s hearing.

Bernanke, 56, joined the Fed in 2002 as a governor and was appointed chairman in 2006. The Senate confirmed him for a second four-year term in January by a 70-30 vote.

“The Federal Reserve’s ability to manage monetary policy in an effective manner depends, in large part, on its reputation for independence and integrity,” Frank, a Massachusetts Democrat, said in the letter. “A complete investigation of these charges is necessary to maintain both.”

California lost far more jobs last year than the state initially reported, according to a new report that provides an early glimpse into statewide employment trends.

"The economy was a lot worse than everybody thought," said Howard Roth, chief economist with the state's Department of Finance. "The job market is weaker than we figured."

According to an estimate from the state Employment Development Department, California employers shed 871,000 jobs in 2009. If that estimate holds up when final revisions are released this month,

California's job losses would be far more grim than first believed. The agency reported as recently as Jan. 22 that California employers chopped 579,000 jobs from payrolls in 2009. That would translate into 292,000 more lost jobs.

Why are job losses so much worse than first thought? The EDD's monthly estimates depend in part on the number of employers it believes exist in California at a given time. But the recession has erased numerous companies. "Businesses went away and no longer existed that we originally thought were there," said Dennis Meyers, an economist with the state finance department… [Their guesses were bogus.]

The American Thinker: Secretary Geithner's Got Some Explaining to Do The problem Geithner knew he had to confront, however, was that the FED was not authorized to take ownership in AIG or any other financial institution. The law authorized the FED only to loan money and take collateral. While the FED might end up with ownership after a default and foreclosure on the collateral, the Federal Reserve Act does not authorize the NY Fed to structure the debt deal with an equity piece.

So what did Geithner do? He took equity, but he used a fictitious "Trust" to accomplish that which he could not do legally. The AIG Credit Facility Trust has three so-called independent, non-governmental trustees owning the 77.9% of the legal interests of AIG, and the Trust agreement assigns the U.S.

Treasury the beneficial interests in the 77.9%. The highly-touted "independence" of the trustees is quite obviously critical to save the Trust from the claim that it is merely a ruse for FED ownership and control.

But there is only one problem with this Trust structure: It is invalid and illegal for two important reasons, not the least of which is that its independence is nonexistent.

Specifically, the Trust Agreement includes a hardly-noticed section 1.03, which gives the FED absolute authority over the Trust's existence and its terms, effectively granting the FED control over the actions of the trustees. By any legal definition, this is not a valid independent trust. This means, at the very least, that the FED is the real owner of the legal interests in 77.9% of AIG's equity, and this is, as Geithner himself testified before the Senate Banking Committee in April 2008, not legal.

A report warns that the country is now immersed in a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management – and when the risks go wrong, the banks receive taxpayer bailouts from the government.

"Risk-taking at banks," the report cautions, "will soon be larger than ever."

The Institute's chief economist, Nobel Prize-winner Joseph Stiglitz, called the report "an important point of departure for a debate on where we are on the road to regulatory reform.”

The report blasts some of Washington's key players. Writes Johnson, "Our government leaders have shown little capacity to fix the flaws in our market system." Two other panelists, Simon Johnson, a professor at MIT, and Peter Boone of the Centre for Economic Performance, voiced similar criticisms.

Federal Reserve chairman Ben Bernanke and Treasury Secretary Tim Geithner "oversaw policy as the bubble was inflating," write Johnson and Boone, and "these same men are now designing our 'rescue.'"

An average 345 companies filed per day in February - 6,557 businesses that filed for relief from creditors in February, according to Automated Access to Court Electronic Records (AACER), a database of U.S. bankruptcy statistics.

First, the category of “personal consumption expenditures” includes pretty much all of the $2.5 trillion healthcare spending, including the roughly half which comes via government. When Medicare writes a check for your mom’s knee replacement, that gets counted as consumer spending in the GDP stats.

At a time when we are wrangling over health care reform, it’s misleading to say that “consumer spending is 70% of GDP”, when what we really mean is that “consumer spending plus government health care spending is 70% of GDP.”

According to a 2008 book, “Deception and Abuse at the Fed,” by University of Texas Professor Robert D. Auerbach, then-Fed Chairman Arthur Burns tried to block lawmakers’ probes into the source of $6,300 found on the burglars of the Democratic National Committee’s offices in Washington’s Watergate complex in 1972. Burns, who served as Fed chief from 1970 to 1978, died in 1987.

Auerbach worked for Henry Gonzalez, a former chairman of the House committee who died in 2000 and investigated the sale of U.S. arms to Iraq in the 1980s, before the Gulf War. Gonzalez said the Fed and other agencies initially tried to block his probe, according to a 1992 New York Times article.

Fed bank examiners in Atlanta failed to note $5.5 billion being funneled to Iraq from a local branch of an Italian bank, Auerbach, a critic of the central bank and former congressional economist, said in his book.

“The Federal Reserve’s ability to manage monetary policy in an effective manner depends, in large part, on its reputation for independence and integrity,” Frank, a Massachusetts Democrat, said in the letter. “A complete investigation of these charges is necessary to maintain both.”

Police in Delaware say a man angry about his sewer bill was arrested after he suggested someone should crash a plane into a county government center.

New Castle County police say 45-year-old Darren Spayd of Newark got upset Tuesday after being assessed a late fee.

Police say he started cursing at county workers and threw the change he had received back at one. Police say several employees overheard him suggesting someone should fly a plane into the building.

A Texas man angry with the Internal Revenue Service recently flew a plane into an office building in Austin, killing himself and one IRS employee.

Spayd was charged with disorderly conduct and terroristic threatening. He was released on $2,500 bail and ordered to have no contact with the government center. No phone number was listed for him.

The U.S. unemployment rate held at 9.7 percent and payrolls fell less than forecast, indicating the labor market strengthened even as East Coast snowstorms forced some employers to temporarily close.

Payrolls dropped 36,000 last month after a revised 26,000 decrease in January, figures from the Labor Department in Washington showed today. Manufacturers added workers for a second straight month, the first back-to-back gain since 2006, while construction companies fired workers.

The unemployment rate held at 9.7 percent in February as employers shed fewer jobs than expected, evidence that the job market may be slowly healing.

A Subscriber sent the following: CNBC was commenting on the job figures and the government said if somebody works 1 hour in 14 days that is considered being employed. It’s a joke. Ok just wanted to share this with you.

Couples now fight about the financial burden.

Thanks to plummeting property values, divorcing couples now find themselves fighting for the right not to keep the house.

The crippled real estate market has turned once-valuable assets into huge financial burdens. Homes bought at or near the peak of the housing market in 2005-2006 have lost tens of thousands of dollars in value in just a few years, forcing many discordant couples to keep a painful reminder of a failed relationship.

"Instead of fighting over the house, we're fighting over who gets stuck with it," said Steve Halbert, 57, an Arlington homeowner going through a divorce.

Halbert and his wife bought their house in 2006, shortly before their marriage and the housing market took a turn for the worse.

"We thought we'd be walking away with hundreds of thousands of dollars in equity. But there is no equity," he said.

As a four-time divorce -- and a real estate appraiser -- Halbert said he's accustomed to heated legal battles over property ownership.

But unlike his first three trips to divorce court, Halbert said he's hoping to lose possession of his house this time around.

Divorce lawyers across Washington say Halbert's situation is common, thanks to the tumble in the housing market.

"Anybody who practices in this area has seen the same thing," said divorce lawyer Hughie Hunt, who represents clients in Maryland and the District.

Lawyer Michelle Thomas said the drop in home values and the resulting financial strife have translated to more contentious divorce negotiations for her clients in D.C. and Virginia.

"Homes had always been an asset, until the last two years or so," Thomas said. "You had a situation where there was $100,000 or $200,000 of equity in a house to be divided, and that's not the case anymore."

Now, the opposite is true.

"I had some folks that bought a home and then ended up splitting up, and the home hasn't been worth enough to sell. They ended up renting it for a loss," said Chris Upham, a Coldwell Bank real estate agent who works throughout the region. "That's something I've seen a lot lately."

Jessie Peterson and her husband, Jeff Holmberg, who are separating, bought their Northeast Baltimore home in 2007, and then watched helplessly as it lost 10 percent of its value.

Peterson said arguments about the house made an already-difficult situation a lot tougher.

"You're at each other's throats. You're dealing with this huge burden of this house with absolutely no solutions," Peterson, 30, said of the arguments she and Holmberg had about what to do with their house. "It's hard to maintain any kind of peace when you're in that situation."

Peterson said she and her husband hadn't built up any equity in their home, so refinancing wasn't an option. Filing for foreclosure would have damaged the couple's credit, so they had to work out another solution.

Holmberg agreed to take possession of the house and the mortgage. But, at least for now, Peterson's name will stay on the deed, an arrangement that leaves her feeling "terribly uncomfortable," though happy to move on.

Likewise, Halbert said the financial mess involving his house made a bad situation much worse.

"It became the biggest thorn between us," he said, chuckling at the irony of his situation. "We've ended up fighting a lot over this."

After stalling briefly, the Democrats' jobs agenda regained momentum on Thursday as the House passed one measure designed to boost employment and the Senate pressed forward on a more ambitious bill that is expected to come to a vote next week.

The House voted 217 to 201 to approve a $15 billion measure that would give tax breaks to companies for hiring new employees. Six Republicans joined the vast majority of Democrats in supporting the bill, which also includes a one-year reauthorization of the law governing federal highway funding, as well as an expansion of the Build America Bonds program and a provision allowing companies to write off equipment purchases.

More than 30 Democrats voted against the measure. Liberals complained that it is too small and too focused on tax cuts rather than on spending.

Fannie Mae and Freddie Mac may force lenders including Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. to buy back $21 billion of home loans this year as part of a crackdown on faulty mortgages.

That’s the estimate of Oppenheimer & Co. analyst Chris Kotowski, who says U.S. banks could suffer losses of $7 billion this year when those loans are returned and get marked down to their true value. Fannie Mae and Freddie Mac, both controlled by the U.S. government, stuck the four biggest U.S. banks with losses of about $5 billion on buybacks in 2009, according to company filings made in the past two weeks.

The surge shows lenders are still paying the price for lax standards three years after mortgage markets collapsed under record defaults. Fannie Mae and Freddie Mac are looking for more faulty loans to return after suffering $202 billion of losses since 2007, and banks may have to go along, since the two U.S.- owned firms now buy at least 70 percent of new mortgages.

“If you want to originate mortgages and keep that pipeline running, you have to deal with the push-backs,” said Paul Miller, an analyst at FBR Capital Markets in Arlington, Virginia, and former examiner for the Federal Reserve. “It doesn’t matter how much you hate Fannie and Freddie.”

Freddie Mac forced lenders to buy back $4.1 billion of mortgages last year, almost triple the amount in 2008, according to a Feb. 26 filing. As of Dec. 31, Freddie Mac had another $4 billion outstanding loan-purchase demands that lenders had not met, according to the filing. Fannie Mae didn’t disclose the amount of its loan-repurchase demands. Both firms were seized by the government in 2008 to stave off their collapse.

February Average Hourly Earnings up 0.1% M-o-M and 1.9% Y-o-Y.

US average weekly hours 33.1 in February vs. 33.3 in January.

The Federal Reserve received the most loan requests in six months from investors for the final round of its program that unlocked the market for asset-backed securities.

About $4.1 billion in lending was sought, including $1.8 billion for financing of student-loan securities, the New York Fed said yesterday on its Web site. In total, about $7.1 billion of sales this week were of securities that included eligible classes, according to data compiled by Bloomberg.

CIT Group, SLM Corp., Ford Motor Co. and Chrysler Financial Corp. were among borrowers selling TALF-eligible debt, including securities backed by student loans without government guarantees, lending to car dealerships and equipment leases. The program, begun a year ago with asset-backed bond sales frozen, is no longer needed for much of the market, said Bryan Whalen, a managing director at money manager TCW Group Inc.

“A year ago, 9 out of 10 issuers couldn’t come to market in the credit-card or auto space without TALF; today, 9 out of 10 can,” Whalen said yesterday in an interview at Bloomberg News headquarters in New York. “It’s just the outlier, the remote weird asset class that needs TALF to get done.”

U.S. consumers increased their debt in January for the first time in a year, the Federal Reserve reported Friday. Total seasonally adjusted consumer debt rose $4.96 billion, or at a 2.4% annual rate, in January to $2.46 trillion. Economists surveyed by MarketWatch expected consumer credit to decline by $6 billion in January. This is the first increase since January 2009 and the biggest since July 2008. After the financial crisis deepened in the fall of 2008, the economy fell into recession and consumers stopped spending and worked down their debt levels. On a year-on-year basis, consumer credit is down 4.2%. The increase in January was led by non-revolving debt, such as auto loans, personal loans and student loans, which rose $6.62 billion or 5%. Credit-card debt fell $1.67 billion, or 2.4%, to $864.4 billion. This is the record 16h straight monthly drop in credit card debt.

Pending Homes Sales tanked 7.6% m/m in January. +1% was expected.

As we warned several years ago and re-warned recently, US businesses are cannibalizing future sales in order to survive today. But this ensures future calamity.

The US government rescued or tried to rescue some industries over the past year. But their stimulus schemes and incentives once again cannibalized future sales. So the housing and auto industries once again face a possible sated-demand problem.

The Fed’s balance contracted $5.982B due to the Fed’s unexpected SELLING of $5.732B of MBS. The Fed did monetize $957.926m of agencies. http://www.federalreserve.gov/releases/h41/Current/

February non-farm payrolls (36K)Some notable trends in the numbers:

*Average hours worked fell one tenth to 33.8 hours, which may have been impacted by the 1M people that the BLS said missed some work due to weather (vs 290K on average in February).•Manufacturing payrolls rose 1K, the second straight increase.

•Construction payrolls continued to fall, falling 64K after a 77K decline in January, though weather may well have been a factor.

•Service payrolls rose 42K, led once again by temp help, which rose 48K. The temp category has been the strongest in recent months, averaging a 57K monthly gain over the past five months of increases.

•In the notoriously volatile household survey, the labor force rose 342K and employment rose 308K, leaving the unemployment rate unchanged at 9.7%. [Temporary jobs rose 48,000 in February.]

Idaho tax revenue is $41M behind estimates.

North Carolina tax collections down $35M as consumers cut spending.

Florida's budget gap could be as high as $3.2 billion.

Stiglitz, Nobel Prize-Winning Economist, Says Federal Reserve System 'Corrupt'

100 Years Ago: Women's Day (1910-2010)

Megan Cornish - Global Research, March 8, 2010

Women are a revolutionary force. That fact shows in their holiday, International Women’s Day (IWD), both its past and present. Because the profit system depends on the second-class status of women, the day that honors them is bound to be connected to momentous happenings.

There were at least 984 events last year in 64 countries. The day is an official holiday in 29 countries — not accidentally, mostly those with an anti-capitalist history. They include China, Cuba, Vietnam, states in the former Soviet Union and Eastern Europe, and some in Africa.

The wealthier nations — North American and European countries, Australia — don’t recognize it. It’s notable that both IWD and May Day, the international workers’ holiday, were started to commemorate the struggles of workers in the U.S. — but neither is recognized officially in the heart of Capital.

A militant beginning. The holiday’s roots are in the struggles of working women and their socialist supporters. It’s believed that a mass protest by women garment and textile workers in New York City in 1857 occurred on March 8, and that in March two years later the same women won a drive to unionize. They were fighting against brutal working conditions, low wages, and the 12-hour day.

On March 8, 1908, socialist women organized a demonstration of 15,000 in New York. Their demands were pay raises, shorter hours, the vote, and an end to child labor. After that, the Socialist Party of America decided to celebrate a women’s day in the U.S., the first of which was held in 1909.

International Women’s Day was founded the following year, a century ago, at the Second International Socialist Women’s Conference held alongside the International Socialist Congress in Copenhagen, Denmark. The attendees represented socialist parties, working women’s clubs, and unions, and included the first three women elected to the Finnish parliament, at a time when few women had the right to vote.

U.S. delegates went intending to propose an international women’s day, only to find that German feminist Clara Zetkin had beaten them to it. Zetkin was a prominent member of the German socialist party, which had a strong history of defending women’s rights. Women from 17 countries voted unanimously to create the holiday. The next year, 1911, celebrations started with a bang, with more than a million people demonstrating in Germany, Austria, Denmark and Switzerland.

The need for such a day got a chilling but powerful push from the great Triangle Shirtwaist Factory fire of March 25, 1911, in New York. Locked exits and poor safety measures caused the deaths of 146 workers, mostly women. It became an international scandal that ignited labor organizing. It helped build the International Ladies Garment Workers Union, which was one of the first primarily female unions and became one of the largest unions in the U.S.

In 1913 and 1914, as the drumbeats for World War I were beginning to sound, major IWD demonstrations calling for peace took place in Europe. World War I began in August 1914. For several years, IWD was suppressed both by capitalist governments and by some socialist parties, those that had betrayed international working-class solidarity by backing their own nations in the war.

A revolutionary spark. But the most momentous IWD so far was in Russia on March 8, 1917. The story is told magnificently in Leon Trotsky’s History of the Russian Revolution. Women started the insurrection that overthrew the all-powerful czar — and led to the Bolshevik revolution eight months later.

Women textile workers in Petersburg were desperate and angry because of severe food shortages and the slaughter of several million Russian soldiers in the war. They went on strike, and called on other factories to support them. The strike and demonstrations grew from day to day, and five days later, the Russian monarchy was gone for good.

Ongoing insurgency. IWD isn’t just a ceremonial occasion. In Iran in 2007, police violently broke up an IWD protest and arrested dozens of women. The day has a militant history in Iran.

On IWD in 1979, in the midst of the revolution that ousted the U.S.-backed shah, and just after the right-wing Islamic regime of Ayatollah Khomeini came to power, 100,000 women and male supporters rallied at Tehran University. Then 20,000 women, wearing western clothes instead of the mandated full-length veil, marched through the city. Protests were organized in other cities, too. Women demanded equal rights, including the right to dress as they wished. Religious vigilantes dispersed the women, although they fought back over the course of several days. It was the failure of left parties to defend the women that led to the ultimate defeat of the revolution.

Female leadership is a high-water mark in struggles too numerous to count. Women workers were instrumental in nationalizing banks during the uncompleted Portuguese revolution in 1977. Women played a vital role in Latin American upheavals of the 1980s, including Nicaragua’s Sandinista rebellion. Europe in the ’80s saw a huge upsurge of feminism, particularly within socialist and communist parties.

Last year, women played a forefront role in the uprising in Honduras against the coup that ousted the democratically elected president, Manuel Zelaya.

In the U.S., the huge feminist movement launched in the late 1960s began with radical aims. Despite the achievement of some reforms and a sea change in social attitudes, those aims remain to be fulfilled — as they do in the rest of the world.

The dynamism and revolutionary role of women workers that IWD commemorates is a key to understanding our times. Revolts by those on the bottom against the crimes of the profit system spring up continually. And those on the bottom are women, of all colors and nationalities and sexual persuasions, and as the most downtrodden part of every other oppressed group.

In the process of accomplishing their own liberation, women will be essential to the liberation of humanity.

Le déploiement militaire en Afghanistan fait tomber le gouvernement hollandais

Stefan Steinberg - Mondialisation.ca, Le 7 mars 2010

Le gouvernement hollandais est tombé samedi lorsqu'un des membres de la coalition dirigeante - le Parti du Travail social-démocrate (PvdA) - a refusé de soutenir une nouvelle extension du déploiement militaire hollandais en Afghanistan.

Le Parti du Travail qui partage le pouvoir avec les chrétiens-démocrates et l'Union chrétienne a justifié sa décision en disant que la crédibilité du parti était en jeu.

Le Parti du Travail a perdu une bonne partie de son soutien lors des dernières élections en raison principalement de son maintien de l'intervention militaire en Afghanistan. Commentant la décision de son parti de s'opposer à un nouveau mandat, le dirigeant du Parti du Travail et vice-premier ministre, Wouter Bos s'est plaint de ce que l'intervention était « un fardeau trop lourd pour l'armée hollandaise ».

Il a poursuivi en disant : « Quand nous avons étendu [le mandat du déploiement des troupes hollandaises en Afghanistan] il y a deux ans, nous avons promis à la population hollandaise que ce serait la dernière fois. Et donc, cela aurait été assez peu crédible si nous avions à nouveau reporté la date. »

Les Pays-Bas déploient actuellement 1.400 soldats dans la province d'Uruzgan dans le sud du pays. Le nombre total de ses troupes stationnées en Afghanistan est évalué à environ 2.000.

Vingt et un soldats néerlandais ont été tués depuis que le gouvernement a envoyé la première fois des troupes en 2006 dans le but de soutenir la mission de l'OTAN. Les sondages d'opinion ont à maintes reprises clairement indiqué que la majorité de la population était opposée au déploiement en Afghanistan et voulait un retrait immédiat des troupes néerlandaises. C'est dans ce contexte que le gouvernement hollandais avait fixé une date butoir pour le retrait de ses troupes d'ici le mois d'août prochain.

Au cours de ces quelques derniers mois, les Etats-Unis et la Grande-Bretagne ont renforcé la pression sur le gouvernement de La Haye pour qu'il renouvelle son engagement militaire à Uruzgan. L'augmentation du contingent de troupes européennes est la pierre angulaire de la stratégie du « surge » (la montée en puissance) décidé par le gouvernement Obama et qui a envoyé des dizaines de milliers de soldats supplémentaires en Afghanistan.

A l'origine, les Etats-Unis réclamaient à l'Europe jusqu'à 10.000 hommes supplémentaires. En réponse, l'OTAN promettait de fournir quelque 7.000 hommes mais ce total comprend des troupes qui se trouvent déjà dans le pays et de nombreux gouvernements n'ont pas encore pris d'engagements fermes quant aux contingents promis.

L'opposition populaire à la politique militaire du gouvernement hollandais et à l'intervention des troupes hollandaises en Afghanistan avait augmenté en début d'année suite à la publication d'un rapport de la Commission d'enquête néerlandaise sur la guerre en Irak en 2003. La Commission Davids avait rejeté les arguments centraux utilisés pour justifier les actions des gouvernements américain et britannique en concluant que la guerre en Irak était illégale en vertu de la loi internationale. Le rapport avait aussi critiqué le rôle joué dans la guerre en Irak par le gouvernement hollandais dirigé par le premier ministre chrétien-démocrate, Peter Balkenende, qui est aussi le dirigeant de la coalition qui vient de démissionner.

Au début du mois, le secrétaire général de l'OTAN, Anders Fogh Rasmussen, avait eu des pourparlers avec Maxime Verhagen, la ministre chrétien-démocrate des Affaires étrangères. Il avait ensuite adressé une lettre à Balkenende en vue d'une extension de la mission néerlandaise.

En réponse à la demande du secrétaire général de l'OTAN, le Parti du Travail néerlandais a tendu le rameau d'olivier. Le député travailliste Martijn van Dam a déclaré que son parti serait prêt à soutenir la poursuite d'une intervention impliquant la formation d'un nombre restreint d'ingénieurs et de personnel médical afghans. Mais étant donné que des troupes hollandaises seraient nécessaires pour assurer la sécurité d'une telle mission, la proposition de van Dam était un moyen détourné pour permettre la continuation du déploiement hollandais.

Toutefois, après que la nouvelle a été connue la semaine passée que les négociations de l'OTAN avaient donné le feu vert pour la prolongation du déploiement hollandais, la colère est montée dans l'opinion publique. Bos a affirmé n'avoir pas été au courant des négociations - une affirmation hautement douteuse et qui a immédiatement été rejetée par les chrétiens-démocrates insistant pour dire que Bos était parfaitement informé ; elle a de plus été accueillie avec beaucoup d'incrédulité par l'opinion publique.

C'est dans ce contexte que le Parti du Travail s'est séparé de ses partenaires de la coalition. Au terme d'une réunion ministérielle de 16 heures et qui a duré jusqu'au petit matin de samedi, Balkenende a déclaré la fin de sa coalition avec le Parti du Travail.

Le parti des chrétiens-démocrates et de l'Union chrétienne devraient expédier les affaires courantes en attendant l'organisation de nouvelles élections législatives anticipées qui devraient avoir lieu au début de l'été. Dans ces conditions où tous les partis de la coalition ont été discrédités on assume que le parti anti-immigrant d'extrême droite de Geert Wilders, le Parti de la liberté (PVV), pourrait remporter le scrutin ou arriver en deuxième position lors des nouvelles élections.

La chute du gouvernement hollandais représente un sérieux coup porté à la stratégie du gouvernement américain en Afghanistan. Certes, le nombre des soldats néerlandais en Afghanistan est limité par rapport au déploiement américain - qui devrait atteindre 100.000 hommes d'ici la fin de l'année - et pourtant les experts en politique et les spécialistes de la politique extérieure craignent que la décision néerlandaise ne forme un prélude à ce que d'autres pays retirent également leurs troupes.

Le parlement allemand doit décider vendredi de l'extension du mandat de ses propres troupes en Afghanistan. Tout comme aux Pays-Bas, il existe en Allemagne une hostilité massive contre l'intervention des troupes allemandes à la mission des Etats-Unis et de l'OTAN.

Aux dires de Julian Lindley-Rench, professeur à l'académie de la défense des Pays-Bas à Breda : « Si les Hollandais se retirent, ce à quoi cela aboutirait, cela pourrait ouvrir les vannes et faire dire aux autres Européens : "Les Hollandais se retirent, pourquoi pas nous aussi." Les conséquences seraient que les Etats-Unis et les Britanniques devraient porter une charge plus grande. »

La fin du gouvernement hollandais et l'éventualité d'un retrait des troupes hollandaises se produit aussi à un moment où l'alliance Etats-Unis/OTAN est confrontée à une opposition grandissante à l'encontre de l'opération qu'elle mène contre les talibans dans la province du Helmand qui est limitrophe de la province d'Uruzgan.

Les commentaires faits par le dirigeant du Parti du Travail, Wouter Bos, après que son parti a quitté la coalition gouvernementale, montre clairement qu'il n'existe aucun différend au sein des sociaux-démocrates lorsqu'il s'agit de recourir aux troupes hollandaises pour des interventions militaires en faveur de la défense des intérêts hollandais. Bos représente une section de l'élite dirigeante aux Pays-Bas qui est de plus en plus préoccupée par le déroulement de la campagne en Afghanistan, qui rechigne à utiliser les troupes hollandaises pour défendre les intérêts américains dans la région et qui redoute les conséquences intérieures et politiques d'une participation hollandaise continue dans la guerre.

L'opposition populaire à la guerre est liée au mécontentement social face à l'impact de la crise économique et des mesures d'austérité du gouvernement. Balkenende avait annoncé des projets pour rehausser l'âge du départ à la retraite et pour imposer des coupes drastiques dans les programmes sociaux dans le but de récupérer les sommes considérables que le gouvernement avait allouées au sauvetage des banques hollandaises au plus fort de la crise économique.

Tout comme dans le cas de la politique militaire, les sociaux-démocrates n'ont pas de différends fondamentaux avec une telle politique. Depuis les années 1990, le Parti du Travail est considéré comme le parti de la redistribution des richesses - de la classe ouvrière vers ceux du haut de la société.

C'est à cette époque que le PvdA, sous le premier ministre d'alors, Wim Kok, avait appliqué un programme de coupes draconiennes dans les dépenses sociales, ouvrant de ce fait la voie à l'entrée au gouvernement des conservateurs menés par Balkenende. L'actuel dirigeant travailliste, Bos, est un ancien directeur de la compagnie Shell Oil qui jouit d'étroites relations avec le monde des affaires hollandais.

A présent, Bos et la direction du Parti du Travail en sont venus à la conclusion que les mesures indispensables pour restaurer la crédibilité des Pays-Bas ne peuvent, aux yeux de la finance internationale, être appliquées par une coalition discréditée et menée par Balkende. Au lieu de cela, le Parti du Travail s'efforcera, grâce à ses liens étroits avec les syndicats, de forger une nouvelle coalition qui s'engagera à appliquer les coupes exigées par les banques et les intérêts patronaux hollandais.

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