BILLIONAIRE financier George Soros has set financial markets aflutter by suggesting that a new world financial crisis is in the offing. In a speech he gave recently to a think-tank, he underscored the outflow of finance capital from the third world which is likely to catch these economies in a cycle of exchange rate depreciations and austerity. And he talked specifically of the European Union facing an “existential crisis” on account of three factors: its territorial disintegration as exemplified by Brexit, austerity, and the refugee crisis.

AFTER years of wavering by India despite continuous prodding by the US, first under the UPA and then even by the BJP, it appears that another of the “foundational agreements” between the US and India on military collaboration is on the verge of being signed. Three such agreements are part of the package required to be signed by all US allies to allow the latter to acquire and effectively operate advanced US military equipment inter-operably with US forces.

THE policy announced of lateral entry into the civil service at the level of joint secretary has raised a number of questions.  The central government has advertised for ten posts of joint secretary to be recruited by a committee headed by the cabinet secretary. The applicants can be from either the public sector, universities, or, the private sector including those working in multinational companies.  The requirement is that they should have 15 years experience in the job. This is just a thin end of the wedge.  Lateral entry is being pushed by none other than the prime minister himself.

DONALD Trump’s leaving the G-7 summit without budging an iota on protectionism is indicative of the disunity among the leading capitalist countries on the strategy to overcome the capitalist crisis. Trump has decided that the US would go its own way, by enlarging the fiscal deficit, not just for giving tax concessions to the corporates, which would have little demand-stimulating effect anyway, but also for increasing government expenditure which would have this effect, and at the same time by protecting the domestic market.These two strands of Trump’s strategy have to go together.

THE CPI(M) launched a campaign, ‘Poraduvom Tamizhagame’, in Tamil Nadu to sensitise the people about the suppression of democratic rights, excesses committed by the police, unbridled corruption, administrative bungling and the anti-people attitude of the AIADMK government.As part of the campaign -- ‘Poraduvom Tamizhagame’ (Tamil Nadu Protests), six rallies were taken out from different parts of the state and these culminated in Trichy with a public meeting on June 14.