A non-partisan journal of the left.

Search London Progressive Journal

  • Enter text and click Search. This search does not accept exact strings with " or '. For exact searching click 'Exact Search'.
  • or

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken... [read more]

Spain's abusive banks

The big economic news has been the massive 100bn euros bailout of Spain’s banks. However the back story has been the numerous protests by Spaniards against measures to support banks which are largely in trouble through their own greed, corruption and mismanagement, writes David Eade.... [read more]

£50bn Bail-out Will Not Stop the Rot

Socialist Appeal's Mick Brooks on the UK government's financial bail-out package.... [read more]

The Bank Guarantee That Bankrupted Ireland

The Irish have a long history of being tyrannized, exploited, and oppressed—from the forced conversion to Christianity in the Dark Ages, to slave trading of the natives in the 15th and 16th centuries, to the mid-nineteenth century “potato famine” that was really a holocaust... [read more]

Bail-out Blackmail

Mick Brooks on the truth behind the US government's bail-out of the financial sector.... [read more]

The ECB’s Noose Around Greece

Remember when Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks?... [read more]

The Bailout: A Reality Check for America

Safreena Rajan on why the present recession is a damning indictment of the incompetence of the Bush administration.... [read more]

The Greek Coup: Liquidity as a Weapon of Coercion

In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system... [read more]

The Banks, Fragile Giants

Part 5 of Eric Toussaint's series Banks versus the People: the Underside of a Rigged Game shows that big banks continue playing with fire, because they are persuaded that governments will save them whenever necessary... [read more]

A journey into the vice-ridden world of banking

The primary objective of the world’s leaders is to avoid another banking and financial crash that could be worse than the one in September 2008... [read more]

Banks versus the People: The Underside of a Rigged Game! (Part 2)

The European Central Bank and the Federal Reserve are at the service of the major private banks... [read more]

Banks versus the People: The Underside of a Rigged Game! (Part 1)

Eric Toussaint looks at 2007-2012: Six years that shook the banking world... [read more]

Euro zone crisis: A Green alternative

We are watching economic injustice crush a nation before our eyes. On 20 March, Greece must meet the next tranche of debt repayments,says Alfie Stirling.... [read more]

Interview: Greg Maughan, Campaign for a New Workers' Party

Cristina Brooks spoke to Greg Maughan of the Campaign for a New Workers' Party about his views on recent developments in the economic sphere.... [read more]

Banks in Crisis? Take them Over

With politicians and financial experts grasping at straws in their efforts to resolve the worst economic crisis in decades, Mick Brooks outlines the case for the nationalisation of the banking system.... [read more]

Juggling the Devil Sticks: Imran Khan, the military establishment and the Kashmir 'issue'

As soon as Imran Khan took charge of the office of Prime Minister he announced a number of cosmetic economic policies... [read more]

The Italian Banking Crisis: No Free Lunch—or Is There?

It has been called “a bigger risk than Brexit”– the Italian banking crisis that could take down the eurozone... [read more]

Ideological reforms vs Greek democracy

Bryan Gould, former Labour shadow cabinet minister, explains how Europe is witnessing a triumph of ideology over common sense ... [read more]

Extremism is prevailing in Eurozone Negotiations

The negotiations between the newly elected Greek Government and the other Eurozone states have been a battle between pragmatism and extremism... [read more]

The Failure of the Debt System

Eric Toussaint and Daniel Munevar put forward the case for abolishing third world debt... [read more]

Sorry, folks..the wake is over

The change in the Greek political scene is an opportunity for Europe, not a threat, argues Ilia Xypolia.... [read more]

Trashy beauty queens and the men who rule the world

In 1864, Abraham Lincoln wrote a letter that predicted where the US was heading - the world he warned about is the world we now have as bankers control the money supply having the power to make or break nations. Colin Todhunter explains ... [read more]

Bank Bailouts - Throwing Good Money After Bad

As the UK government plans further massive bank bailouts, Mick Brooks calls for the complete nationalisation of the banking industry.... [read more]

The Working Class Must Not be Left to Pay for Wall Street Mess

Socialist Appeal's Walter Leon on the far-reaching implications of the financial crisis. ... [read more]

This Week in the Media: Government Private Sector Bailouts, and the Furore Over Sharia

David Floyd believes the government's bailout of multibillon-pound private-sector companies is a big waste of everyone's time and money.... [read more]

The Bankers’ “Power Revolution”: How the Government Got Shackled by Debt

The U.S. federal debt has more than doubled since the 2008 financial crisis, shooting up from $9.4 trillion in mid-2008 to over $22 trillion in April 2019... [read more]

What is to be Done with the Banks? Radical Proposals for Radical Changes

Immediate measures for moving towards socialisation of the banking sector... [read more]

The European Central Bank’s true priorities

Part 7 in a series of articles by Eric Toussaint - Governments submit to “Too Big to Fail” banks ... [read more]

The big private banks run on LTRO

Part 6 of the series 'Too Big to Fail' by Eric Toussaint... [read more]

A Crisis Worse than ISIS? Bail-Ins Begin

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US... [read more]

Hang On to Your Wallet: Negative Interest, the War on Cash and the $10 Trillion Bail-In

In uncertain times, “cash is king,” but central bankers are systematically moving to eliminate that option. Is it really about stimulating the economy? Or is there some deeper, darker threat afoot?... [read more]

Killing Off Community Banks: Intended Consequence of Dodd-Frank?

The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks... [read more]

United-States : the Fed Bails Out Wall Street

Part 4 of Eric Toussaint's series: Governments submit to “Too Big to Fail” banks... [read more]

Greece: Alternatives to the Capitulation

On 5 July 2015 the Greek people overwhelmingly rejected the austerity measures imposed by the institutions that were known as the Troika... [read more]

Grexit or Jubilee? How Greek Debt Can Be Annulled

The crushing Greek debt could be canceled the way it was made – by sleight of hand... [read more]

Governments submit to “Too Big to Fail” banks (part 2)

Governments make gifts galore to private banks... [read more]

Governments submit to “Too Big to Fail” banks (part 1)

Since 2007, the major Central Banks of the most industrialised countries have lent massively to private banks at very low interest rates in order to avoid their failure... [read more]

The Trans-Pacific Partnership and the Death of the Republic

On April 22, 2015, the Senate Finance Committee approved a bill to fast-track the Trans-Pacific Partnership (TPP)... [read more]

The Impunity Enjoyed by the Banks must Stop

The final part of the series by Eric Toussaint - The Banks and the “Too Big to Jail” Doctrine... [read more]

Complicity of Dexia in very serious Human Rights violations in the Israeli occupied territories

Part 8 of the series 'The banks and the “Too Big to Jail” doctrine'... [read more]

NATO weakness in the epoch of geo-political turbulence and instability

The main outcome of the NATO summit that took place in Newport, Wales on 4th-5th September appears to have been the decision to launch a new ‘spearhead’ rapid response task force... [read more]

Ukraine: NATO hypocrisy over “Russian invasion” as Kiev suffers defeat

As politicans from across the world met at the NATO summit in Wales, the crisis in Ukraine saw an escalation in rhetoric... [read more]

The War on Democracy

Dr Tomasz Pierscionek describes how yet another nation has fallen victim to 'Shock and Awe' ... [read more]

The Italian crisis and the wait for Godot

A crisis is a crucial point, a turning point, a situation that demands change or reaction in order to resolve the situation... [read more]

A long and dishonourable tradition

George Osborne may be just about the last person in Britain to believe that austerity offers a real path to recovery from recession and the resumption of growth - and it may be doubted that even he remains a true believer, writes Bryan Gould... [read more]

The year of cataclysm for the NHS

It has been a big year for the English health service, for the wrong reasons. With so much happening so fast, Alex Nunns of the NHS Support Federation pulls together the strands to explain what is really going on in the NHS... [read more]

Romnesia

The parasitical ultra-rich often deny the role of others in the acquisition of their wealth – and even seek to punish them for it, writes George Monbiot.... [read more]

Scorched Earth Economics

The model is dead; long live the model. Austerity programmes are extending the crises they were meant to solve, yet governments refuse to abandon them and the UK provides a powerful example, writes George Monbiot. ... [read more]

The Global Economic Crisis and ‘Possible Futures’

David Lane reviews a collection of three volumes compiled by Craig Calhoun and Georgi Derluguian chronicling the origins and aftermath of the global financial crisis... [read more]

Slash and Burn Capitalism

Now the government intends to strip away protection from our most treasured places, says George Monbiot.... [read more]

Boom at the top

At a time when the poorest are being hit hardest, W Stephen Gilbert comments on the obsence bonuses enjoyed by those at the top echelons of the financial sector and puts paid to the reasons most commonly used to justify such unfair practice.... [read more]

How the Billionaires Broke the System

The US deficit reduction plan makes no sense – until you remember who’s behind the Tea Party movement. ... [read more]

The Real Cost of the Banking Crisis

Mick Brooks reviews the Bank of England's assessment of the banking crisis.... [read more]

Election 2010: Don’t Mention the Class War

'New' Labour is too close to big business to deliver the radical change the country needs, but it is by far the lesser of the two evils on offer, writes Richie Nimmo.... [read more]

The Great Cop-Out

Impeded by Gordon Brown, the G20 has decided that bankers won’t be properly regulated, as George Monbiot explains.... [read more]

Political Crisis Deepens in Britain

Rob Sewell picks apart the media furore over the MPs' expenses scandal which has rocked British politics over the past fortnight.... [read more]

Captive Knowledge

The funding for academic research has been taken over by business, says George Monbiot.... [read more]

Budget: Where’s Our Bail-out?

As New Labour announces its new budget, Socialist Appeal's Mick Brooks provides his assessment of the British economic malaise.... [read more]

Australian Administration Puts UK Labour Party in the Shade

Steven Littlewood believes Gordon Brown could learn a thing or two from his Australian counterpart.... [read more]

Unprecedented!

Michael Roberts on why the present economic crisis demonstrates the vulnerability of "free market" capitalism. ... [read more]

Gordon Brown and "Light Touch" Regulation

Mick Brooks on how Gordon’s policies left the UK unprepared for the present financial crisis.... [read more]

US Democrats Yet to Convince Working Class America

Richard Scorer on how the current economic crisis presents a challenge to the Democrats' cosy relationship with big business and finance.... [read more]

The Credit Cruch - One Year On

Twelve months on from the beginning of the current economic crisis, Socialist Appeal's Michael Roberts examines the causes and effects of the so-called "Credit Crunch".... [read more]