Europe and the Austerity Fallacy – at the The Chicago Council on Global Affairs

Screen Shot 2016-05-03 at 10.52.43

The European Union is a house of cards threatening regional stability and global prosperity, argues Yanis Varoufakis. The flawed architecture of the EU’s institutions, which struggled to develop an effective or coordinated response to the Eurozone crisis, has never been addressed. Rather than reforming governance or enhancing democracy, Varoufakis contends that Europe’s leaders defended the status quo, while administering a punishing course of austerity on the EU’s weaker members. As a result, he believes, Europe will continue to see rising inequality and extremism, while remaining wholly unprepared for the next crisis. What are the key lessons from the Eurozone crisis? And what can global leaders and citizens do to build a more just, democratic, and sustainable economic system?

Yanis Varoufakis’ new book, And the Weak Suffer What They Must? will be available for purchase and signing at the program from the Book Cellar.

– See more at:

1 Comment

  • For as long as Greece and the Greeks have a slave’s mentality which has been cultivated over milennia by the blood thirsty Roman empire and its modern successor the ratzilla-like EU, we will continue to have a deep inferiority towards anything “european” and would be prevented from discovering our uniquely own exceptionalism.

    Unless we feel and are exceptional as Greeks there will be no ending to this chapter of disgusting Roman and European slavery.