How can we govern Europe? Florence, 21-23 November 2014

Screen Shot 2014-11-19 at 12.54.17 PMConference participants include (in order to presentation): Richard Koo (Chief economist, Nomura Research Institute), Vítor Constâncio (Vice President ECB), Bill Mitchell (Centre of Full Employment and Equity), Frances Coppola (Economist, former banker), Pierre Moscovici (Commissioner for Economic&Monetary Affairs), Yanis Varoufakis (Universities of Athens and Texas at Austin), Thomas Mayer (Senior Fellow at the Center of Financial Studies at Goethe Universität Frankfurt).
For the complete program click here.



  • In Italy? They can’t controle their own country, money, politics. etc.

    • Excactly. It is not one Country. Italy is at least two countries! So what does this mean for the EU, Ukraine etc.? The same as it meant for Yugoslawia!

    • SM:

      Are you trying to give us everything south of Rome? Because it’s 100% Greek and we will take it; no questions asked. Magna Graecia is still alive and well. Learn your history.

    • I cannot “give it” to you. It does not belong to me. I just think most people would be better off this way.

  • Yanis, I would like to connect with you on Facebook. I also have a 712 words comment on Germany and Greece that you might find interesting.   Best,   Uwe   Uwe Bott President Bott Consulting   Former Senior Executive of GE Capital and DTCC, among several companies in the financial services. Specialty: Risk Management.  

    • The sum of one’s own incompetencies and amateurism does not equal “US deep state”. You need to come to terms with the fact that there has never been a more impotent political force than the present European Left. A bunch of laughable clowns devoid of even the basics required for governance (an altogether alien concept for the euroLeft).

    • Thanks for verifying the following part of the article, so quickly:

      “The war already started in Europe. The systemic establishment in Greece try to present SYRIZA as a non-serious political power and downgrade the rapid change of the Greek and the European political scene especially after the latest euro-elections.”

    • Failedevolution:

      I have nothing against Syriza. I only report the facts. And if you don’t like to hear the truth from me then just take it from these experts. They are the best analysts in the business; hear what they have to say about the euroLeft in general.

  • This is what Frau Disaster has caused in Europe. A pattern that you will see repeated again and again from this point going forward. Welcome to Euro-disintegration – the permanent condition of eurofailure. Europe as a German construct is dead; D-E-A-D:

    • The Euro is a french construct. Delors devised the artifical currency, Mitterand imposed it onto Kohl in a blatant blackmail: either Germany accepts the Euro or France would block the re-unification of Germany. The economic layman Kohl accepted, he didn’t even bother to consult the then president of the Bundebank,Tietmeyer.

  • Very interesting conference. As for one line item in the programm

    “How much do structural reforms help growth and competitiveness?”

    an example. In 2008, the port of Piraeus handled 433.582 container. In 2013 it was about seven times as much: 3.16 million. How come? Thanks to some structural reforms. Chinese took over and invested is one. Another one the readjustment of the salaries of the port workers. They earn now about 1.200€ per month. Which is higher than the median income in Greece. But it is also jut one third of what unionized port workers got before. Tough luck, but also proof that the salaries in this sector were absolutely, totaly uncompetitive.

    Without these reforms, Piraeus would never have became the succes it is by now. Greek should learn from it and stop delaying the inevitable which is to perform a lot tough structural reforms. A perfect start would be to kick out the so-called elites in politics, economy, the finance system, the unions and in the government, which ruined the nation.

    • Respectful disagreement. I fear that Bill grossly underestimates the costs of a euro break-up. As I keep repeating, it is one thing to argue that we should not have had this common currency (something Bill and I agree on) and quite another to propose its discontinuation.

  • Dear Yanni,
    I just went through Richard Koo’s slides ( from same conference,
    and was wandering if his main 2 “solutions” (slide 24) received any remark for
    (a) effectiveness, and
    (b) feasibility under law and treaties

    Thanks again.

    • While I agree with most of his analysis, his solutions are a let-down. A new Treaty cannot be negotiated, under the present circumstances, before the crisis takes a terrible toll (and this is why our Modest Proposal strives for solutions within existing Treaties). As for the differential risk weighting, it is highly unlikely to work.

  • From where I stand, it seems that “European Elites” embarked on a project to create their cultural & political imperial kingdom located in Brussels – which was supposed to represent a utopian dream of uniting and binding the various cultures of Europe together using economic & political agreements as well as shared cultural values. The failed experiment that was the USSR as well as the current ongoing political & economic crisis in Ukraine should sound alarm bells to those who want further EU integration & expansion. The experience of the Soviet Union, who’s leadership used a variety of economic & political instruments based on ideas derived from Marx & Lenin as well shared cultural values in that part of the world ended up falling over after many decades of repressive rule from the top. The current European leadership seem to be preoccupied with their internal political squabble and a resolve to repeat the mistakes of the past, maybe in a more spectacular fashion!