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Conditions for a financial crisis building up

Commercial real estate faces “vulnerabilities” and the massive growth of private credit threatens to become a “locus of contagion” for financial turbulence, according to two recent reports.

Nick Beams

Workers Struggles: The Americas

A strike by truckers of the National Front of Heavy Cargo Drivers and other logistics unions in Peru met heavy police repression, while locked-out DHL workers in Canada face a management strikebreaking operation.

Protest in London against Palestine Action ban amid police provocation

Throughout the demonstration, police snatch squads plunged into the crowd to make violent arrests aimed at provoking a response. The BBC was quick to report the arrests and “scuffles,” while other media described a “clash with police” and “chaos.”

Thomas Scripps, Ajanta Silva

High Court of Australia rejects challenge to Labor’s attack on the CFMEU

The ruling gives the go-ahead for a stepped-up assault on the wages, conditions and democratic rights of building workers, but it also means those who want to fight the administration can no longer be held back with the lie that all they can do is wait for the court’s verdict.

Martin Scott

This week in history: June 23-29

Supreme Court rejects challenge to Miranda ruling; State of emergency in India; Korean War begins; French and British troops massacre Chinese protesters.

Stop the war against Iran!

American imperialism and its Israeli proxy continue to escalate their illegal, unprovoked war of aggression against Iran, with US nuclear-capable B-52s and aircraft carrier battle groups readying to launch an imminent attack.

WSWS Editorial Board

Philadelphia transit system facing “death spiral” in coming fiscal year

The deficit is largely attributable to the expiration of COVID-19 relief funds. Other contributing factors include inflation, rising fuel and power costs, and a decline in ridership that began at the onset of the COVID-19 pandemic as well as the habitual underfunding of public transportation and other essential services in the eighth largest metropolitan region in the United States.

Matt Allen

Two central bankers foreshadow challenges to US dollar

European Central Bank president Christine Lagarde has said there are “opportunities” for the euro to play a greater international role while the head of China’s central bank Pan Gongsheng has spoken of a “multi-polar” currency world.

Nick Beams

Workers Struggles: Asia, Australia and the Pacific

India: Telangana domestic workers demand rights and welfare benefits; Bangladesh government sector workers oppose “black law”; Australia: Bluescope Steel electricians in New South Wales impose bans; New Zealand doctors and dentists strike over pay.

UBS Wealth Report 2025 exposes exponential growth of inequality internationally

The UBS report on global wealth, developed for the purpose of informing the super-rich about trends in wealth accumulation, is an indictment of the capitalist system where a tiny handful of billionaires have incalculable financial assets as billions of people are plunged deeper into poverty and hunger.

Kevin Reed

Frankfurt/Main: A harrowing speech on the genocide in Gaza

A man with family roots in Palestine described the impact of the Gaza genocide on his family:“While the world looks to the events in Iran, Israel is using the silence to continue bombing Gaza undisturbed.”

Marianne Arens

Corporate media boosts the CIA Democrats

A flattering write-up in the Washington Post is only one of a series of media reports promoting former spies and military officers as the face of the Democratic Party.

Patrick Martin

After Minnesota shootings, Trump, MAGA Republicans stoke more fascist violence

In the aftermath of the targeted shootings by a fascist Trump supporter of Democratic state lawmakers in Minnesota, Donald Trump and a number of MAGA Republicans have made statements calculated to stoke more fascist violence against members of the nominal opposition party and political opponents of the Trump regime.

Barry Grey

Anorexic teenager in New Zealand starves to death alone

The death of the extremely sick 17-year-old in a motel room in 2023 is an indictment of Jacinda Ardern’s Labour government, which oversaw a worsening mental health crisis and declining access to services.

Tom Peters

Workers Struggles: Europe, Middle East & Africa

Rail workers in one-day national stoppage throughout Greece demand investment to end appalling rail safety record; doctors in Spain join growing strike wave over falling living standards; municipal workers in Umhlathuze Local Municipality, South Africa walk out over pay and impossible working conditions, including lack of health and safety and staff shortages

Starmer government doubles down on austerity to fund war spending

NATO is demanding that member states commit to at least 3.5 percent of GDP on “pure” military spending, and 5 percent including necessary infrastructure projects as early as 2032. This would require an additional £40 billion annually in the UK’s military budget, dictating the evisceration of health, education, housing and welfare spending.

Robert Stevens

German Chancellor Merz: “Israel is doing the dirty work for all of us”

On the sidelines of the G7 summit in Canada, German Chancellor Friedrich Merz endorsed Israel's attack on Iran in an interview with public broadcaster ZDF. He said, “I can only say that I have the utmost respect for the Israeli army and the Israeli leadership for having had the courage to do this.”

Peter Schwarz

Oppose imperialist-Zionist war against Iran and Turkey’s collaboration!

The principled opposition of the SEG, which gives conscious political expression to the mass opposition of workers and youth around the world to imperialist-Zionist aggression, stands in stark contrast to the hypocritical attitude of the pro-imperialist capitalist political establishment in Turkey.

Sosyalist Eşitlik Grubu

Marseille-Fos dockers block arms shipment to Israel

The initiative by the Marseille dockers underlines the determination of the working class to go on the offensive against the genocide in Gaza and against the imperialist governments complicit in this crime.

Anthony Torres

Oppose Starmer’s plans for war against Iran!

The Socialist Equality Party calls for the broadest industrial and political mobilisation of the working class to stop Keir Starmer’s Labour government dragging Britain into war with Iran.

Socialist Equality Party (UK)

26,000 Cádiz metalworkers set to strike in Spain

A unified struggle would directly threaten the PSOE Sumar government’s militarist agenda, heavily reliant on the metal sector. It would confront a deeply unpopular administration besieged by corruption scandals and mounting working-class resistance to years of austerity and wage erosion.

Santiago Guillen, Alejandro López
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