Working people across Britain are fighting back against austerity, war, repression and exploitation. The challenge now is to unite those struggles, says Communist Party of Britain assistant general secretary JOHNNIE HUNTER
SCENES from Moscow and other Russian cities over the last 24 hours suggest the initial stages of a bank run, whilst the rouble fell almost 40 per cent in early trading as East Asian markets have opened. This was the intended result of the economic sanctions announced by European powers, Canada and the US, subsequently joined by Japan, over the weekend.
The sanctions are measures of an unusually severe degree, threatening potential economic devastation, but the major mechanism they use have been road-tested over the last decade of economic crisis and disorder.
The economic blow from central bank sanctions on Russia will remain exceptionally severe. Bank of Russia will likely find that capital controls and dramatic interest rate hikes are what it relies on to try and defend the rouble and thus its banking system.
Oligarchs and messaging systems
US financial instability is exposing the limits of a dollar-dominated global economy — and giving the Global South a historic chance to build an alternative, says MURAD QURESHI
Friedrich Merz’s call for a new Plaza Accord ignores how Washington’s 1985 currency ambush destroyed Japan without fixing US deficits — China, a sovereign socialist state with 1.4 billion consumers, cannot be bullied the same way, writes CARLOS MARTINEZ
ROGER D HARRIS and SARA FLOUNDERS challenge propaganda against the blockaded socialist island


