Economy

  • Will Abbott save Galilee Basin coalmine?

    In its latest federal budget, the Tony Abbott Liberal-National government announced the setting up of a $5 billion “concessional loan facility” called the Northern Australia Infrastructure Facility. The proposal has been condemned by environmental and Aboriginal rights groups.

  • Pensioners demand a "fair go"

    Pensioners rallied in Melbourne on May 20 to protest against the federal government's budget. The rally was organised by the Fair Go for Pensioners Coalition.

  • Greece: Negotiations hit crisis point, solidarity vital

    Will Greece's SYRIZA-led government reach a last-minute deal with its creditors, the European Union (EU), European Central Bank (ECB) and International Monetary Fund (IMF) - the “Troika” - to release the last €7.2 billion owed to the country under Greece's second bail-out agreement?

  • Leopard Tony Abbott has not changed his spots

    I guess there were some people who thought that the leopard Tony Abbott may have changed his spots after his look-we've-changed 2015 federal budget. The polls certainly suggest this. As William Bowie wrote in his http://blogs.crikey.com.au/pollbludger/2015/05/21/bludgertrack-51-6-48-4-to-labor-2/">Poll Bludger column in Crikey.com: “A flurry of post-budget opinion polls adds up to a solid increase in the Coalition’s standing, with Tony Abbott’s personal standing now rivalling his least-bad results since his short-lived post-election honeymoon.”

  • United States: McDonald's low paid workers protest, company dodges $1.7 billion tax

    United States: Thousands of low-paid McDonald's workers protest Thousands of McDonald's workers seeking a minimum wage of US$15 per hour have protested outside the fast-food giant's headquarters for two days of protests on May 21 and 22. Reuters said: “Protests by low-wage fast-food and retail workers have helped fuel a national debate about pay levels ... “Tyree Johnson, 47, of Chicago joined thousands of others for noisy but peaceful protests outside McDonald's headquarters in the Chicago suburb of Oak Brook on Wednesday.

  • Budget, attacks on unions herald elections

    The May 2015 budget was framed by the Abbott government with one issue in mind — winning the next federal election. Although there are some members of the Coalition keen on an early election, it seems unlikely to be called until sometime next year.

  • Bureau of Meteorology and Agriculture staff join growing strikes

    Community and Public Service Union (CPSU) members at the Bureau of Meteorology and Agriculture Department, including Quarantine and Meat Inspectors, are the latest in a growing number of public servants taking industrial action to highlight the federal government’s attacks on workers’ rights, pay and conditions. Members held one hour stop-work meetings on May 19, part of a week of rolling stoppages across the Commonwealth public service that has already seen tens of thousands of CPSU members walk off the job in Centrelink, Medicare, Child Support and the Tax Office.

  • Venezuela: Maduro rules out austerity amid falling oil prices, debate over way forward

    It is a point of honour for the Venezuelan government that despite the sharp plunge in oil prices and acute shortages of goods, President Nicolas Maduro has ruled out austerity measures. In a recent TV interview with former vice president Jose Vicente Rangel, Venezuelan Central Bank president Nelson Merentes explained why, saying: “Do you remember what happened on February 27, 1989?”

  • Greece: SYRIZA insists it won't cross 'red lines'

    “Greece avoided another financial crisis by paying about €500 million in wages to public sector workers, but suffered another downgrade of its credit rating,” The Guardian on May 16. The payment came with Greece's SYRIZA-led government, that is seeking to break with austerity, locked in difficult talks with its creditors. Greece is seeking to release €7.2 billion in bailout funds to avoid a default and exit from the eurozone.