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Costas Lapavitsas
Costas Lapavitsas (; born January 20, 1961) is a professor of economics at the School of Oriental and African Studies, University of London and was elected as a member of the Hellenic Parliament for the left-wing Syriza party in the January 2015 general election. He subsequently defected to the Popular Unity in August 2015. Academic career In 1982, Lapavitsas obtained a master's degree at the London School of Economics, followed in 1986 by a PhD at Birkbeck College, University of London. Since 1999, he has taught Economics at the School of Oriental and African Studies, first as a lecturer and since 2008 as a professor. Political career Lapavitsas is known for his criticism of the modern Western financial system, particularly the Greek government-debt crisis, the European debt crisis and the European Union. He is also a columnist for the British newspaper ''The Guardian''. In 2007, he founded ''Research on Money and Finance'' (RMF), an international network of political economis ...
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Marxism
Marxism is a political philosophy and method of socioeconomic analysis. It uses a dialectical and materialist interpretation of historical development, better known as historical materialism, to analyse class relations, social conflict, and social transformation. Marxism originates from the works of 19th-century German philosophers Karl Marx and Friedrich Engels. Marxism has developed over time into various branches and schools of thought, and as a result, there is no single, definitive " Marxist theory". Marxism has had a profound effect in shaping the modern world, with various left-wing and far-left political movements taking inspiration from it in varying local contexts. In addition to the various schools of thought, which emphasize or modify elements of classical Marxism, several Marxian concepts have been incorporated into an array of social theories. This has led to widely varying conclusions. Alongside Marx's critique of political economy, the defining cha ...
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Greek Government-debt Crisis
Greek may refer to: Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group *Greek language, a branch of the Indo-European language family ** Proto-Greek language, the assumed last common ancestor of all known varieties of Greek **Mycenaean Greek, most ancient attested form of the language (16th to 11th centuries BC) **Ancient Greek, forms of the language used c. 1000–330 BC **Koine Greek, common form of Greek spoken and written during Classical antiquity ** Medieval Greek or Byzantine Language, language used between the Middle Ages and the Ottoman conquest of Constantinople ** Modern Greek, varieties spoken in the modern era (from 1453 AD) *Greek alphabet, script used to write the Greek language *Greek Orthodox Church, several Churches of the Eastern Orthodox Church *Ancient Greece, the ancient civilization before the end of Antiquity * Old Greek, the language as spoken from Late Antiquity to around 1500 AD *Greek mythology, a body of myth ...
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Jacobin (magazine)
''Jacobin'' is an American Socialism, socialist magazine based in New York City, New York. Bhaskar Sunkara was its founding editor. the magazine reported a paid print circulation of 75,000 and over 3 million monthly online visitors. Established in 2010, Jacobin's circulation grew in 2016 with the increasing attention on Left-wing politics, leftist ideas stimulated by Bernie Sanders' Bernie Sanders 2016 presidential campaign, presidential campaign. The magazine's name is inspired by C. L. R. James's 1938 book ''The Black Jacobins'', about the Haitian Revolution. Ideologically, the magazine is associated with democratic socialism and the Democratic Socialists of America. History and overview The publication began as an online magazine released in September 2010, expanding into a print journal later that year. ''Jacobin'' founder Bhaskar Sunkara said that he intended for ''Jacobin'' to perform a similar role on the contemporary left to that undertaken by ''National Review'' on ...
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The Guardian
''The Guardian'' is a British daily newspaper. It was founded in Manchester in 1821 as ''The Manchester Guardian'' and changed its name in 1959, followed by a move to London. Along with its sister paper, ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust Limited. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in its journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. S ...
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The Daily Telegraph
''The Daily Telegraph'', known online and elsewhere as ''The Telegraph'', is a British daily broadsheet conservative newspaper published in London by Telegraph Media Group and distributed in the United Kingdom and internationally. It was founded by Arthur B. Sleigh in 1855 as ''The Daily Telegraph and Courier''. ''The Telegraph'' is considered a newspaper of record in the UK. The paper's motto, "Was, is, and will be", was included in its emblem which was used for over a century starting in 1858. In 2013, ''The Daily Telegraph'' and ''The Sunday Telegraph'', which started in 1961, were merged, although the latter retains its own editor. It is politically conservative and supports the Conservative Party (UK), Conservative Party. It was moderately Liberalism, liberal politically before the late 1870s.Dictionary of Nineteenth Century Journalismp 159 ''The Telegraph'' has had a number of news scoops, including the outbreak of World War II by rookie reporter Clare Hollingworth, desc ...
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Labour Party (UK)
The Labour Party, often referred to as Labour, is a List of political parties in the United Kingdom, political party in the United Kingdom that sits on the Centre-left politics, centre-left of the political spectrum. The party has been described as an alliance of social democrats, democratic socialists and trade unionists. It is one of the Two-party system, two dominant political parties in the United Kingdom; the other being the Conservative Party (UK), Conservative Party. Labour has been led by Keir Starmer since 2020 Labour Party leadership election (UK), 2020, who became Prime Minister of the United Kingdom following the 2024 United Kingdom general election, 2024 general election. To date, there have been 12 Labour governments and seven different Labour Prime Ministers – Ramsay MacDonald, MacDonald, Clement Attlee, Attlee, Harold Wilson, Wilson, James Callaghan, Callaghan, Tony Blair, Blair, Gordon Brown, Brown and Starmer. The Labour Party was founded in 1900, having e ...
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2015 Labour Party (UK) Leadership Election
The 2015 Labour Party leadership election was triggered by the resignation of Ed Miliband as Leader of the Labour Party on 8 May 2015, following the party's defeat at the 2015 general election. Harriet Harman, the Deputy Leader, became Acting Leader but announced that she would stand down following the leadership election. It was won by Jeremy Corbyn in the first round. Coterminous with the leadership election, in the 2015 Labour Party deputy leadership election, Tom Watson was elected to succeed Harman as deputy leader. Four candidates were successfully nominated to stand in the election: Andy Burnham, Yvette Cooper, Jeremy Corbyn, and Liz Kendall. The voting process began on Friday 14 August 2015 and closed on Thursday 10 September 2015, and the results were announced on Saturday 12 September 2015. Voting was by Labour Party members and registered and affiliated supporters, using the alternative vote system. Support for Corbyn, who entered the race as a dark horse candi ...
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2015 Jeremy Corbyn Labour Party Leadership Campaign
Jeremy Corbyn, the Member of Parliament (United Kingdom), Member of Parliament for Islington North, stood as a candidate in the 2015 Labour Party leadership election (UK), 2015 British Labour Party leadership election, in a successful campaign that made him the leader of the Labour Party (UK), leader of the Labour Party. His campaign was announced in an article for the ''Islington Tribune'' on 3 June 2015. Corbyn pledged to stand on a "clear anti-austerity platform" and because he wanted to "give Labour Party (UK), Labour Party members a voice" in the debate. Commentators in the media widely predicted that Corbyn would struggle to pass the threshold of 35 nominations from Labour MPs required to become a candidate. However, he managed narrowly—and at the last minute—to secure sufficient support from parliamentary colleagues, with 36 nominations in total. Around 12 of the MPs who nominated him actually supported other candidates, but "lent" him their support in order to widen ...
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Jeremy Corbyn
Jeremy Bernard Corbyn (; born 26 May 1949) is a British politician who has been Member of Parliament (United Kingdom), Member of Parliament (MP) for Islington North (UK Parliament constituency), Islington North since 1983. Now an Independent politician, independent, Corbyn had been a member of the Labour Party (UK), Labour Party from 1965 until his expulsion in 2024, and remains a member of the Socialist Campaign Group parliamentary caucus. He served as Leader of the Opposition (United Kingdom), Leader of the Opposition and Leader of the Labour Party (UK), Leader of the Labour Party from 2015 to 2020. Corbyn identifies ideologically as a socialist on the Labour left, political left. Born in Chippenham, Wiltshire, Corbyn joined the Labour Party as a teenager. Moving to London, he became a List of trade unions in the United Kingdom, trade union Union representative, representative. In 1974, he was elected to London Borough of Haringey, Haringey Council and became Secretary of H ...
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Eurozone
The euro area, commonly called the eurozone (EZ), is a Monetary union, currency union of 20 Member state of the European Union, member states of the European Union (EU) that have adopted the euro (Euro sign, €) as their primary currency and sole legal tender, and have thus fully implemented Economic and Monetary Union of the European Union, EMU policies. The 20 eurozone members are: : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The seven non-eurozone members of the EU are Bulgaria, the Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their own national currencies, although all but Denmark are obliged to join once they meet the euro convergence criteria. Bulgaria is targeting to join the eurozone on 1 January 2026. Bulgaria is expected to become the 21st eurozone member from January 1, 2026. ...
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Austerity
In economic policy, austerity is a set of Political economy, political-economic policies that aim to reduce government budget deficits through Government spending, spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to Government debt, borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result. In most macroeconomic models, austerity policies which reduce government spending lead to increased unem ...
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Modern Drachma
The drachma ( ) was the official currency of modern Greece from 1832 until the launch of the euro in 2001. First modern drachma The drachma was reintroduced in May 1832, shortly before the establishment of the Kingdom of Greece. It replaced the ''phoenix (currency), phoenix'' at par. The drachma was subdivided into 100 Greek lepton, lepta. Coins The first coinage consisted of copper denominations of 1 lepton, 2 lepta, 5 lepta and 10 lepta, silver denominations of drachma, drachma, 1 drachma and 5 drachmae and a gold coin of 20 drachmae. The drachma coin weighed 4.5g and contained 90% silver, with the 20 drachmae coin containing 5.8g of gold. In 1868, Greece joined the Latin Monetary Union and the drachma became equal in weight and value to the French franc. The new coinage issued consisted of copper coins of 1, 2, 5 and 10 lepta, with the 5- and 10-lepton coins bearing the names ''obolos'' () and ''diobolon'' (), respectively; silver coins of 20 lepta, 50 lepta, 1 drachma, 2 ...
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