The European debt crisis goes back to the end of the roaring '90s when the banks were flush with money and looking for ways to raise their bottom lines.
Over the past few weeks the American people have been served up a steady stream of words and images by the major media about the conflict in the Ukraine.
The European Union's response to the economic chaos gripping the continent seems a combination of profound delusion, and what British a reporter called "sado-monetarism" -- endless cutbacks, savage austerity, and widespread layoffs.
The EU set up a monetary union, but it needs a political union based on the empowerment of working people, not just bankers, to survive this crisis.
Cutbacks and layoffs have touched off huge street protests, general strikes, and the collapse of governments.
On this Columbus Day, let's consider the discrepancy between how newcomers are celebrated in our history but ostracized in our society.
Shying away from political union now means the collapse of the Euro, the common market and the growth and economies of scale it promises.
Debtocracy, a free online movie distributed under Creative Commons license, exposes roots of Greece and Europe's debt crisis and offers an alternative to austerity policies.
Major sections of capital believe the debt crisis gives them a golden opportunity to completely shift the costs of the "reproduction of labor power" to working people and break their fighting spirit.
Americans have a lot in common with the people in Europe, Asia, Africa and Latin America struggling against debt austerity.