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The Socialist Party held its annual congress just as the world crisis deepened and stock markets tumbled yet again. Capitalists internationally and in Britain have no answers! The Socialist Party's annual conference took place in Clacton, 2-4 March 2013. The opening discussion was on the world economic, social and political crisis. Following sessions discussed the effect on Britain and how the fightback will develop in the trade unions and the youth. Peter Taaffe, general secretary of the Socialist Party, who opened the discussion on world perspectives, said earlier: "The Italian elections have shown a rejection of austerity and massive yearning for change, which is reflected throughout Europe, including Britain. "The main parties in Italy lost massive amounts of support: Berlusconi's party lost six million votes, the 'democrats', the so-called 'left', three million. "A political vacuum has developed, which was partially filled by Beppe Grillo, a comedian, whose new formation nevertheless gained 25% of the vote by putting forward radical policies against the banks and the political system".