about the Global Financial Crisis
Saleh Yassir, member of the Central Committee of the Iraqi Communist Party, presented an extensive analysis of the current global financial crisis at a meeting held on Tuesday, October 14, 2008 at the party headquarters at Andulus Square in central Baghdad.
More than 200 people packed the hall to listen to a stimulating presentation of the political economy of the crisis, its causes and repercussions, as well as its principal characteristics compared with previous crises.
Comrade Yassir concluded that the crisis has marked the beginning of the end for neo-liberalism on several levels; economic, political and social. He pointed out that the global financial system will not return to what it was before, but will witness significant changes in terms of an end of the brutal chaos of globalised state monopoly financial capitalism, and towards interference by the State in controlling the financial markets of each state and on the global level.
Does the crisis mean the end of the capitalist system? Replying to this question, comrade Yassir said "No. The end of capitalism requires waging a social struggle and broad class alliances that would not evolve and develop in a short time."
A more extensive report of the meeting will be published later, according to "Tareeq Al-Shaab".
Source: "Tareeq Al-Shaab", the central organ of the Iraqi Communist Party (15-10-2008).