Talking to Phillip Adams, on the ABC’s LNL

English European Crisis Finance Minister FinMin2015 Greek Crisis Interviews Media Radio Uncategorized 3353 Views 31 comments January 29, 2015

On my first day on the ‘job’, as Greece’s Finance Minister, I took a few minutes off to talk to my favourite voice and intellect on the wireless. 

LNL

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  • Take care of this Yanis. This is job PRIORITY #1

    Στέφανος Μάνος
    Στις 3 μετεκλογικές ημέρες, οι 4 μεγάλες τράπεζες έχασαν το 40% της αξίας τους. Οι νέοι μάγοι της οικονομίας γνωρίζουν, φαντάζομαι, ότι το 70% των τραπεζών ανήκει στο ΤΧΣ και ότι συνεπώς, σε τελική ανάλυση, τη ζημιά θα την επωμιστεί ο Ελληνικός λαός.

  • Fantastic Interview Yanis. Lets hope we see some real progressive change in Greece. We are all watching in Australia!

  • Hi Yanis. I have not heard the program yet, but thank you for all your clear communication on the crisis in the past few years, It’s so frustrating not to have the full picture in the majority of news reports. And to think you can do it bilingually. Bravo and good luck, Angela, Sydney.

  • Good point on the humanitarian crisis : as a volunteer at our local food bank, I regularly see and hear evidence of the devastating and corrosive consequences of austerity here in the UK.
    People desperate for work-unable to find any-and those trapped in ‘flexible’ zero hours conditions,struggling to survive on derisory wages.
    While not being a supporter of the left,I have read digests of JK Galbraith’s. Work and ‘ Austerity Kills’ by Basu and Stuckler, and I truly hope that Greece can offer the way forward for an alternative to neo-liberalism and its flat earth ideology

  • Nice chat there Yanis.
    Remember that if you ask for debt forgivness, you have to offer it first to those in debt. (where you can)

    Many people are owing debts to banks, and defaulted. Offer them debt forgivness.
    But not by putting the burden on banks, but buy removing it from people and from banks.
    Remember that bank loans are accounting fiction, when a bank issues a loan it creates that money, when that same loan is payed it destroys that money.
    USA used to practice before 2005, personal bankrupcy laws where bankrupcy judge simply erases debts of people in bank, and at the same time erases liability of the bank just as if loan was payed back, but without ever paying it back.
    Remember that this erases the banks liability too so it would be a huge benefit to bank also. leave the property in hands of people.

    It would be easy for you to just copy USA bankrupcy laws and then accept it in parliament, tough it takes time to implement it since there is 1,5 milion Greeks who need it done. There is a question of financing the whole infrastructure of new lawyers and judges that would be doing it. And there is the question of expediency of the process, How long can judges work on that process, one month, two, three months? It needs time limit for end of bankrupcy process. If allowed for too long then a lot of coruption will have a chance to find a way around of process.

    Make it so that all accounting clears, on liability and asset side so that never comes back to bite, if you just make it be forgiven on asset side, banks will colapse right away.

    Remember that you are asking for a debt forgivness, if you want it be given to you, you have to give it first.
    Thanks for consideration, and good luck

  • Great interview; only one comment; speaking certainly for myself, surely, not everyone supporting Yanis would describe themselves as “Left Wing”. Libertarians come from every walk of life.

  • Theodoros Deligiannis vs Charilaos Trikoupis, and the Greek default of the 1890s. History repeats itself, the first time as tragedy, the second time as a farce. Who said that? A bearded one I wonder.

  • Yanis – using the term “Nazi”, especially now that you are a minister, is too loaded as well as incorrect. Just being anti-immigrant is not National Socialism. I fear you just can´t resist throwing subtle barbs at Germany, which you so obviously dislike, but it is not helpful. And not subtle.
    BTW – congratulations! Please don´t back down like Obama did.

  • Thank you for your positive unbiased constructive insights. Europe needs this immensely. Good luck Sir and may your new Government be a blessing upon Greece’s unjust suffering and a shinning example for others to follow.

  • A very interesting terminological shift occurred in V’s interview. ‘Negotiations’ were replaced by ‘deliberations’. I cannot surmise if it is deliberate but two distinctive differences distinguish the two terms. 1) ‘Negotiations’ suggest a confrontational arrangement whereby a compromise agreement between two opposing sides is aimed at. ‘Deliberations’ suggest a more amicable framework within which the common benefit of all partners is sought after. 2) ‘Negotiations’ take place on the basis of contrary interests shaped by power asymmetry.’Deliberations’, if we consider Habermas’ discourse ethics and his theory of ‘deliberative democracy’, imply the primacy of rationality and of the acceptance of the ‘best argument’ among the interlocutors over the sheer exercise of one’s power in pursuit of his/her naked interest. Plausibly, this shift in terms intones an appeal to reason that should be brought forward within the discursive arena of the EU/eurozone. This not only fits with V’s argumentative profile but it also upgrades the Left’s stress on normative rationality above the mere strategising of particularistic interest promotion.

  • I’m glad dear Yanis, you have decided to be in the pigs’ party, as you told us in Australia ! I’d love to join you all in Syriza, my heartiest congratulations and now not only to save Greece, also the E.U. May the powers of love and justice from the people and God protect you all !

  • Dear Yanis,

    let me congratulate you, Syriza and all Greek people for pulling off this victory which I agree with you is a victory for all of Europe. Being a German, I particularly feel ashamed of my government’s view on Europe and the Euro that has paralyzed Europe and all it stands for far too long. My fellow countrymen seem to have forgotten history all too easily. Let’s talk the truth as you say and let us revive our common values of dignity and humanity. Syriza owes it to the Greek people we all owe it to our children.

    Warmest regards, Per

  • Lovely interview. There are a few certainties in all this, but for me they are:

    You and SYRIZA are the fresh breeze in the whole of world politics, not just Europe. There is not a political force in the world today which is so “free” from the influence of a few powerful men and purely in power due to the actual democratic process.

    You have the intellect to challenge them, and the ability to present rational arguments that can make the future better for the citizens, of Greece, Europe and the World.

    The world that you are entering (top level politics) is brutal, and the people you will try to work with are still the ones that plunged the world, Europe and Greece itself into this crisis (and many other crisis in just the last decade).

    You will need all the cunning and good luck to make them come to table, negotiate and accept that the “better” for majority of the citizens means also “better” for them and their sponsors.

    It is a hell of a difficult “game”, likely one of the hardest there is, but with you the world has got a capable champion, in principle better than we had in years, if not decades.

    Sure, the hope may be unrealistic, but if a communist libertarian cannot make the “powers” realize that they need to alter their chosen course for the betterment of all, we are all doomed together (not just the Greeks).

    Good luck & all the best in fighting the good fight! You are the candle in the dark, don’t let them blow you out.

  • ….i know that you know that i know that you know that i know…a CRK strategy on greek debt negotiations…(but of what degree?, n-1)….
    many thanks to Yanis Varoufakis who taught us Economic Theory and Game Theory at UADPhilEcon
    Christos Papadopoulos

  • Mr. Yanis, good health for Greece and all Europe is necessary, Good work and (re) negociate all the business is difficult, stay all togheter in the new government .

  • Mr. Yanis, a long life or the necessary one for the new governement of Greece. Re-negociate and still togheter is very important at this point. Might Greece be an example of something new taht we don t know yet what it is.

  • ΄Mr Varoufakis, Minister of Finance, hello and congratulations on your new post.
    Lets hope that good negotiations through our new governement and Europe, -with you on the steering wheel- will lead to Greeces benefit and wellness , little by little.

    Please Mr Varoufakis take to serious consideration, that a good governement is not only judged by social welfair polices toward poor but how will treat the middle class people, too. Those are the most suffererd these past 6 years, against whole market’s benefits too (no money to buy except the necessary) .Those that
    1. their income decrease 50-60 % now, the year 1914, is around 35.000
    2. families with young daughters and sons that they left Greece with high education degrees try to find a future out of their country , still unemployed, .so that their parents have to support them.
    4.Parents , well educated with good and honorable life and professions ,university professors etc
    5. pensioners , of 65-70 years old , with health problems cancer
    6. their house, yes it may cost 500.000 euros now ,and live in good northern suburbs , , but they still owe their house to the bank and have to pay over 150.000 euros loan , (10.500 euros by year with negotiations and regualtions
    7 judged to be wealthy by paying enormous amound of taxes (luxury tax, 300 euros ) + 600 euros for an 11 years old car and 300 for another 14 years old,
    8. Plus the ENFIA and income taxes,
    9 Amounds to 11.848 euros expenses
    10 without counting living expenses*
    *When the total amound of reasonable yearly expenses , which is a recognized as a reasonable globaly practise( for Ireland, Austria, Belge,Finland,Norway,Spain) is to be from 13.514-17.278 euros for two adults and one child ?

    Lina

  • Yassou Yanis, Solidarity with the Greek people and the new government from a tiny corner of West Wales. I love Greece and am excited by the fresh wind of change that Syriza brings….may that wind be always at your back…..and wishing you courage, truth and justice for the people of Greece, Let’s hope that the rest of Europe follows your bold, brave, intelligent lead. Efkharisto poli!

  • Fantastic. I’ve been listening for 20 years, but it hasn’t made me finance minister of anywhere. Poor old Phillip’s not so hot on economics. His eyes glaze over. A million congratulations for the sterling victory. What a time you’re going to have.

    I don’t want to teach my granny to suck eggs, but my goodness, if you ever get French socialists like Sapin, or Moscovici, I’m sure he’ll be on your route, defending the euro-system, please just bear in mind that they are isolated. Their country, and especially their voter base, what’s left of it, is completely against finance, completely outraged by the treatment of Greece, and very ready for a new disposition. They are in no position at all to defend the status quo.

    Absolute best wishes for what lies ahead. Push the table over.

  • Sir, I have just watched your interview on BBC’s Newsnight. I feel moved, as a disinterested observer, to congratulate you upon your forbearance. In the face of the most antagonistic, unhelpful and, frankly, irresponsibly inattentive questioning, you maintained a calm and clear demeanour, attempting to convey your government’s approach. As one who has felt much scepticism about your position I now feel myself being won over. Congratulations on your good temper and composure. And best wishes to you, your government and your country!

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