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International rally

In Belarus and Georgia, union leaders are facing government-led attacks on their unions. In other European nations, such as France and Spain, workers are battling to protect their hard-won benefits.

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Economics as Religion

William E. Spriggs
General mass of Indignados in Athens Syntagma, Greece (30 June 2011).

Yesterday and today, the world watches, slacked jawed at the endgame of the Greek government’s debt negotiations. The stakes are higher than many Americans understand. So far, the U.S. financial press has viewed this as isolated to the Eurozone. That is in large part because, having endured the Great Recession, there is a view that things are only bad if they threaten the “too big to fail” American banks that can create systemic risks for the U.S. financial sector. But, that view of the world that only bank stability matters is what is so incredulous.

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