Tag Archives: debts

Britain: Royal wedding exposes deep class divisions

by Alan Woods

On Friday 29 April the people of Britain will be invited to participate in the joyful celebration of the marriage of Mr. William Windsor and Ms. Katherine Middleton. At the same time that the government is cutting billions from unnecessary extravagances such as hospitals, schools, teachers, nurses, the old and the sick, the unemployed and single parents, the Coalition has had the good sense to spend a lot of money on something as essential to the Public Good as the nuptials of Willy and Kate.

One can see many advantages in this. At a time of falling living standards for everyone who is not either a member of the royal family or a banker, it can take the minds of the British public off unpleasant thoughts of unpaid debts and unemployment. It might even make them forget the recent mass demonstration that brought half a million of them onto the streets of London to protest the vicious cuts being implemented by the ruling Conservative-Lib-Dem Coalition. …

Read more : Marxist.com

Sindh’s discomfort with surging foreign debts

By Sabihuddin Ghausi

Mounting foreign loan burden has started telling on the nerves of Sindh’s economic managers. Officials at the Sindh Secretariat at Karachi complain of inflated cost of foreign funded projects that are thrust on them. “ All projects are virtually designed by the donors but are attributed to us without the consent of provincial political leadership and the concerned officials,” confided an official.

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