Democracy Now! U.S. and World News Headlines for Monday, March 25

Published on Mar 25, 2013

Visit http://www.democracynow.org to watch the entire independent, global news hour. This is a summary of news headlines from the United States and around the world as reported by Democracy Now! on Monday, March 25, 2013. Visit our website to read the complete transcript, search the vast news archive, or to make a donation to support our non-profit news program.

Capitalism in Crisis: Richard Wolff Urges End to Austerity, New Jobs Program, Democratizing Work

Published on Mar 25, 2013

http://www.democracynow.org ā€” As Washington lawmakers pushes new austerity measures, economist Richard Wolff calls for a radical restructuring of the U.S. economic and financial systems. We talk about the $85 billion budget cuts as part of the sequester, banks too big to fail, Congress’ failure to learn the lessons of the 2008 economic collapse and his new book, “Democracy at Work: A Cure for Capitalism.” Wolff also gives FOX news host Bill O’Reilly a lesson in economics 101.

Watch our extended discussion about the U.S. economy with Richard Wolff at http://www.democracynow.org/2013/3/25…

A People’s Revolt in Cyprus: Richard Wolff on Protests Against EU Plan To Seize Bank Savings

Published on Mar 25, 2013

http://www.democracynow.org ā€” The eyes of the financial world are on the small Mediterranean island of Cyprus today. The government of Cyprus has brokered a last-ditch $13 billion bailout deal with European officials to stave off the collapse of its banking sector. Under the deal, all bank deposits above approximately $130,000 will be frozen and used to help pay off the banking sector’s debts. An earlier version of the deal collapsed last week when Cypriots took to the streets to protest paying a tax of up to 10 percent on their life savings. The plan led to mass demonstrations as well as panicked bank withdrawals as Cypriots rushed to protect their savings. “It’s a demonstration of people power in this little corner of the world that’s very impressive and the basis, I think, for some optimism about opposition,” says Richard Wolff, economics professor emeritus at University of Massachusetts, Amherst and visiting professor at New School University. He is the author of several books including most recently, “Democracy at Work: A Cure for Capitalism.”

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