EU Referendum - The position of communists

EU referendum

The imperialist character of Britain is decisive in determining all the major economic and political developments in this country. The parasitic character of British capitalism, its dependence on the earnings from its vast overseas assets and particularly those of its parasitic banking sector to sustain the British economy, has made it extremely vulnerable to the global crisis precipitated by the financial crash of 2007/08. The continuing global crisis of the capitalist system, the growing conflicts between the imperialist powers, the destabilisation of entire regions of the world, forcing millions to flee to survive, has severely undermined Britain’s capacity to sustain its role as an independent imperialist power. These developments have brought Britain’s relationship with the European Union (EU) to a head. David Yaffe reports.

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Panama Papers: When cheating becomes necessary

panama papers

How fitting that London and the British Prime Minister David Cameron should host the world anti-corruption summit on 12 May 2016. Presumably in the 1920s no one told Al Capone that he should hold a conference in Chicago on combatting organised crime. The Panama Papers confirm what we already know from a string of scandals: that the City of London is at the heart of the world’s biggest network of tax avoidance, money laundering and market rigging. These are the means by which capitalists retain their profits. Pension funds, insurance companies and stock markets are all beneficiaries. If the intention of publishing the Panama Papers was to embarrass the Russian and Chinese governments, British ruling class divisions over European Union membership, combined with resentment at banking profligacy and growing inequality in the midst of enforced austerity, quickly deflected attention on to Cameron himself. Trevor Rayne reports.

Profit increasingly takes a parasitic form: interest, currency exchange deals and the manipulation of financial assets. Fraud is an extension of these methods of securing a share of surplus value and is invaluable to the British ruling class. When Cameron proclaimed, ‘I’m determined that the UK must not become a safe haven for corrupt money from around the world,’ we knew it already is.

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