Books
Saving the Eurozone does not depend on Germany: Our letter to the Financial Times
, 28/06/2012
From Professors Stuart Holland and Yanis Varoufakis Europe is deadlocked in assuming that resolving the Eurozone crisis must be unanimous. Yet it does not need this. It could do so by ‘enhanced cooperation’ which needs support by nine or more member states while, on a motion for an enhanced cooperation policy, only those supporting it […]
Mariana Mazzucato on the role of the EIB in spurring Investment-led Growth
, 21/06/2012
Professor Mariana Mazzucato, of Sussex University, has produced pivotal research on the role that public financing plays in fostering not only investment but also competition. Here she is appearing on Bloomberg to explain the importance of the European Investment Bank as a potential driver of growth, innovation and competition in the European Union. She also […]
In conversation with Rob Johnson (INET Chairman) on the Global Minotaur, the Slump, US and Europe
, 08/06/2012
A few weeks ago, while in New York, Rob Johnson (Chair of the Institute of New Economic Thinking) invited me to their offices where we recorded a conversation on my The Global Minotaur, the true causes of the Crash of 2008, the reasons why the global economy cannot find its poise after that momentous Crash, […]
On the transition to a viable Eurozone and the Modigliani-Miller Theorem: Continuing the dialogue with Kantoos Economics on the Modest Proposal (response YV3 to KE3)
, 06/06/2012
Continuing our exchange with Kantoos Economics (KE) on the Modest Proposal, today we turn to the question of the lead-up to a new Eurozone architecture. What kind of transition period will be necessary? Also, KE asked me to respond on the relevance of the Modigliani-Theorem to our ECB-mediated debt conversion scheme that we are proposing.
Reply No. 2 (YV2) to Kantoos Economics on the merits of the Modest Proposal
, 01/06/2012
Kantoos Economics (KE) just posted the first installment of a reply to my long rejoinder to his original comment on our Modest Proposal.[1] Two are the main point raised by KE, and to which I respond below: One concerns the tradeoff between (a) maintaining market pressure on member-states to keep their public debt under wraps […]
A reply to Kantoos Economics on the merits of the Modest Proposal
, 28/05/2012
Kantoos Economics recently honoured me with an invocation to its readers to read my musings on the Euro Debacle, and to judge them critically. I thank Kantoos Economics for a simple reason:
What does bank recapitalisation mean? An exchange with Joseph Halevi
, 27/05/2012
In reaction to my Le Monde piece, Joseph Halevi (my close friend and co-author) send me an email, regarding the meaning of bank re-capitalisation, that started as short exchange which you, dear reader, may find of interest. Any comments?
A Paradox of Risk Aversion is haunting the global economy: Rob Johnson’s poignant warning against both bubbles and austerity
, 26/05/2012
We keep forgetting that every Crisis, like a coin, has two faces. One is the mountain of debt and losses that is crushing states, people and banks. The other is an equally imposing mountain of accumulated savings that are to ‘frightened’ to fund investment, thus remaining idle and frittering away. Keynes famously invoked the Paradox […]
Fiscal Waterboarding versus Eurobonds: Misrepresenting the latter to effect the former
, 24/05/2012
They came. They talked eurobonds. They left in a miff. Why?
A Modest Proposal for Overcoming the Euro Crisis, Version 3.0 – Policy 3 significantly amended
, 19/05/2012
The Modest Proposal never ceases to evolve. Following the issue of Version 3.0, we have made some significant changes, primarily, on Policy 3 (the Investment-led Recovery, Rebalancing and Cohesion Program). Click here for the latest version. Comments welcome.
The Modest Proposal for Overcoming the Eurozone Crisis, Version 3.0
, 15/05/2012
This blog was established in order to throw useful light on the Eurozone Crisis and, in particular, to present our Modest Proposal for resolving it. The first version was presented in November 2010. Since then we have had a number of updates. Today, I have the pleasure of posting Version 3.0, a thoroughly re-worked variant […]
Interviewed by Christiane Amanpour, CNN International: The case for a European New Deal
, 29/04/2012
On Friday 27th April, Christian Amanpour interviewed me on CNN Int on the theme of Europe’s slow suicide by inane austerity. CLICK HERE FOR THE VIDEO. The transcript of our conversation follows (thanks to CNN for making it available to me):
A litmus test for the theory that Europe, in the end, ‘gets it right on the night’: Will it allow the EFSF to recapitalise banks directly?
, 29/04/2012
A currency union requires a unified banking sector. With one supervisory authority that keeps banks in check (and, hopefully, in awe), re-capitalises them when the need arises and, when this happens, takes a stake in them in exchange for the capital injected into the banks.
The Modest Proposal in Eurointelligence (abridged version)
, 21/04/2012
Wolfgang Munchau kindly offered to publish a version of our Modest Proposal in Eurointelligence. Click here.
THE MODEST PROPOSAL AND THE DEMOCRATIC DEFICIT
, 18/04/2012
In an astute commentary on the INET panel in which I appeared (see here for the text), to talk about Europe’s future, Eves Smith had this to say: “It is worth noting that one of the questions after the various presentations on the Eurozone mess raised the issue of the ‘democratic deficit’. The various speakers […]
The Modest Proposal in Berlin – INET Conference, 13th April 2012
, 16/04/2012
The invitation to address INET’s Berlin Conference, and to deliver a fresh version of the Modest Proposal, gave me the impetus to revisit the latter. The extended summary below (of my INET talk) will soon spawn Version 3.0 of the Modest Proposal. Europe’s strategy for dealing with the Euro Crisis has been to ringfence, at […]
Europe’s April, and how to thwart it
, 08/04/2012
The editor of a Swedish magazine asked me to contribute a short piece that combines elements of my Global Minotaur with the address I am about to deliver at the INET conference in Berlin this coming week on the Future of Europe. Here is the piece I concocted. Its title is borrowed from T.S. Elliot’s […]
Three reviews of the German edition of The Global Minotaur (in German)
, 22/03/2012
Thee reviews of my Global Minotaur (recently released in Germany under the tile Der Globale Minotaurus) have just appeared. One in Literataz-Taz-Beilage Buchmesse. Another by SWR Radio. And a third one by WDR5 Radio.
Assessing George Soros’ latest plan for saving the eurozone: Prelude to Modest Proposal 3.0
, 15/03/2012
In a few short weeks I shall be discussing the ‘Future of Europe’ in a panel comprising distinguished commentators including George Soros. In preparation, I decided to take a closer look at Soros’ latest proposals for the eurozone. Here are some preliminary thoughts emanating from these proposals which I also compare and contrast to our […]
My documentary for Channel 4: The Eurozone, the Ant and the Grasshopper
, 21/02/2012
A Special Report commissioned by Channel 4 (UK), based on an earlier post in this blog entitled Never Bailed Out: Europe’s ants and grasshoppers revisited See also the piece I wrote for Channel 4’s website. And do not neglect to watch the full interview with Mr Robert Halver, Baader Bank’s Chief economist. It sheds plenty […]
Die Zeit Online on the German edition of my Global Minotaur
, 21/02/2012
On the occasion of the publication of the German edition of my Global Minotaur, Die Zeit Online just published extracts from the book under the title Die große Ratlosigkeit in der Krise. Click here for the article.
The Global Minotaur – as featured in the New York Times Magazine
, 15/02/2012
Russell Shorto kindly interviewed me for the New York Times Magazine on my Global Minotaur, as part of a long article entitled The Way Greeks Live Now. For the complete article, as it appears on the New York Times website, click here. The piece that concerns my book follows here:
The Global Minotaur: Interviewed by Naked Capitalism
, 14/02/2012
Phil Pilkington, of nakedcapitalism.com, were kind enough to interview me on my Global Minotaur. To read it from their website, please click here. The Global Minotaur: An Interview with Yanis Varoufakis Philip Pilkington: In your book The Global Minotaur: America, The True Origins of the Financial Crisis and the Future of the World Economy you lay out […]
On ABC Radio National's Breakfast program – discussing Greece
, 10/02/2012
This is an interview on ABC Radio National’s Breakfast program. One of the rare occasions when I was afforded sufficient ‘room’ to unfold arguments.