The recent announcement by the Bundesbank, that it is to seek the repatriation of Germany’s reserves of physical gold, currently held in New York and Paris, is a highly significant development in the on-going crisis in the financial system. As recently as three months ago, the German Central Bank was trenchantly opposed to such a suggestion and adamant that it was, in fact, of intrinsic importance to Germany that it continued to store physical gold reserves in New York and London that would be immediately available as collateral against dollar or Sterling denominated liquidity.

Activists from Greece, Italy, Ireland and Spain talk to Socialist Worker about the growing economic crisis across Europe – and the prospects for resistance

Economist Brian O’Boyle explains why the economic crisis is spreading and why organised mass resistance is the only solution.

The world economy appears once again to be on the brink of disaster. The volatility that swept through markets in recent days is reminiscent of the panic of autumn 2008, when the Wall Street bank Lehman Brothers collapsed.

Today, as three years ago, the turbulence reflects deep-rooted problems in the system.

The immediate causes of the panic are the continued debt crisis across the eurozone and the decision of ratings agency Standard & Poor’s (S&P) to downgrade the US’s debt.

Vincent Browne’s show is the best political discussion programme on Irish television. His refusal to accept vague answers from politicians combined with his passionate sense of social justice has won a huge audience.

On budget day, a new game will be set up to entrap the people of Ireland for the next five years.

The useless gombeens in the Fianna Fail Green government have brought us to the point of near collapse. The Irish elite have been withdrawing deposits from AIB and BOI, 12 Billion having left, and now our banks need more cash. So the Irish taxpayer gets lumbered with another 100 Bilion in debts! And where will this money go? To pay off German, French and UK banks.

Last week the global bond markets turned on Ireland with a vengeance, pushing up the rate at which the government must borrow to finance its debts to an eye-watering 9.07 percent.