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

03/05/2016 by

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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: https://www.thechicagocouncil.org/event/yanis-varoufakis-europe-and-austerity-fallacy#sthash.tIY3wAC5.dpuf

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