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The Minotaur in the Room: Announcing the London launch of my new book on the true causes of the ongoing global economic tumult – 1st September 2011

, 09/08/2011

In London on Thursday 1st September at 18.30? Why not join us in the launch of The Global Minotaur at the Bookmarks bookshop , 1 Bloomsbury Street? Aditya Chakrabortty (of The Guardian) will introduce the book. (Click here for a pdf of the invitation) Meanwhile, here is a piece that sums up the reasons why this […]

Radio and TV interviews on the Euro/Greek Crisis and the Modest Proposal. Plus an announcement…

, 03/07/2011

For those interested, a number of links to recent radio and TV interviews on the latest twists and turns of the Greek-euro crisis follow: In conversation with Trevor Chappell, on ABC Radio National (27  June 2011) Interviewed in the As It Happens leading news and current affairs program of the Canadian Broadcasting Corporation (CBC) – […]

Crisis Update: Three interviews on the Euro Crisis, the Greek Crisis and the Modest Proposal (Radio, TV and print)

, 12/06/2011

UBS Interview promoting the modest Proposal And the crisis sails on… (Anyone recall Fellini’s masterpiece “And the ship sails on”?). In todays post you can: (A) listen to a half-hour long radio interview on the euro crisis (interviewed by Doug Henwood, for the Behind the News program – it begins on the 27th minute), (B) […]

The Modest Proposal for Overcoming the Euro Crisis, Version 2.2

, 06/04/2011

Only a few days’ worth of developments made it necessary to update, yet again, the Modest Proposal. The new text we are putting out today is  quite different from Version 2.1. So much so that we toyed with the idea of labelling it Version 3.0. But we shall keep that label in abeyance for later. […]

Modest Proposal 2.0, as presented at the European Party of the Left Athens Conference, on 12th March 2011

, 15/03/2011

This post is for those of you who wanted to read my presentation of the Modest Proposal  Version 2.0  at the conference on the Debt Crisis organised by the European Party of the Left, 12th March 2011,  in downtown  Athens. The text follows. (As it happened, a dearth of headphones meant that most of the […]

A MODEST PROPOSAL FOR OVERCOMING THE EURO CRISIS, Version 2.0

, 11/03/2011

A few months ago, Stuart Holland and I tabled our Modest Proposal for Overcoming the Euro Crisis. Then we gave it a redux for the New Year. As the Crisis is deepening, and in view of the forthcoming 25th March EU Summit which, we were promised, was meant to culminate into a Comprehensive Solution for […]

The Minotaur’s Global Legacy, Part E – The rise of China

, 08/03/2011

In today’s post I conlcude the region-by-region assessment of the impact of the Global Minotaur’s demise post-2008. Previsously, we delved into the triangular relationship between Japan, East Asia and the USA, recalled Germany’s peculiar engagement with the rest of Europe (see here) and, lastly, re-visited the eurozone crisis.

The Minotaur’s Global Legacy, Part D – A brief history of a very European debacle

, 07/03/2011

The  region by region assessment of the impact of the Global Minotaur’s demise post-2008 today proceeds to an analysis of the eurozone crisis. Having just looked at the story of Germany’s European engagement (see here), and after having scrutinised the triangular relationship between Japan, East Asia and the USA), we are (I hope) ready for a […]

The Minotaur’s Global Legacy, Part C – Germany's Europe

, 06/03/2011

The  region by region assessment of the impact of the Global Minotaur’s demise post-2008 continues in today’s post  with a close look at Germany and its attempt to remould Europe in its image. (The last posts looked at developments in the triangular relationship between Japan, East Asia and the USA).

The Minotaur’s Global Legacy, Part B – Wounded tigers: Japan, America and the South East Asian crisis

, 05/03/2011

Today I continue with a region by region assessment of the impact of the Global Minotaur’s demise post-2008. The last post looked at Japan. This one focuses on the nexus between Japan, SE Asia and the USA

The Minotaur's Global Legacy, Part A: The Dimming Sun

, 03/03/2011

On 25th March, European leaders have promised us a comprehensive solution to the eurozone risis. I am not holding my breath but, at the same time, I am redrafting the Modest Proposal for resolving the crisis. It will appear in this blog next week. In the meantime, I return to my Global Minotaur theme. The […]

The fifth of the Global Minotaur's Handmaidens: Toxic economic theory

, 22/02/2011

The last two posts examined  four important contributors to the Global Minotaur: to America’s astonishing pre-2008 capacity to attract financing from the capital surpluses of the rest of the world sufficient for the purposes of funding its expanding twin deficits. They were, in turn, (a) the mergers and acquisitions drive, (b) hedging and leverage, (c) The Wal-Mart business model […]

The Minotaur’s Handmaidens Part B: The Wal-Mart business model and Wall Street’s toxic money

, 18/02/2011

In The Minotaur’s Handmaidens Part A, my last post, I looked at two important contributors to the Global Minotaur: to America’s astonishing pre-2008 capacity to attract financing from the capital surpluses of the rest of the world sufficient for the purposes of funding its expanding twin deficits. These two contributors were, on the one hand, the […]

The Minotaur's Handmaidens Part A: Mergers and take overs, Hedging and Leverage

, 16/02/2011

The last post presented the Global Minotaur as a peculiar, yet powerful, Global Surplus Recycling Mechanism (GSRM). Now, I move on to a discussion of the various submechanisms by which the US twin deficits managed to attract financing from the capital surpluses of the rest of the world so that this strange GSRM could operate […]

The Global Minotaur as a most peculiar Global Surplus Recycling Mechanism

, 15/02/2011

Continuing with the story of the Global Minotaur, today’s post looks at it as a most peculiar Global Surplus Recycling Mechanism .(to get up to speed on what this mechanism might be all about, click here) Following the collapse of the Global Plan in 1971, by the end of the 1970s America’s twin deficits had started […]

The Global Minotaur is finished…

, 01/02/2011

Regulars of this blog will know that 31st January 2011 was my deadline for finishing my new book, THE GLOBAL MINOTAUR: America, the True Oirigns of the Financial Crisis, and the Future of the World Economy. Well, I missed my deadline. By two hours and thirty six minutes! As deadline misses come, it was not […]

So, why did the Crash of 2008 happen? A first glimpse of the Global Minotaur

, 15/01/2011

Regular visitors will know that these days I am deeply immersed in the writing of a book about the Crash of 2008 and its after math. One that will bear the title THE GLOBAL MINOTAUR: America, the True Origins of the Financial Crisis and the Future of the World Economy. Well, I just finished a […]

Two challenges to the Modest Proposal Redux

, 14/01/2011

Soon after posting the 2011 version of the Modest Proposal, I received two repudiations: One from a convivial ex banker (whose views have appeared on this blog before) and one from my comrade-in-arms, George Krimpas. Their objections are important and this is why I am posting them here, along with my answers.

The Modest Proposal Redux (a new version for the turbulent 2011)

, 11/01/2011

As the euro crisis will enter its final stages in 2011, and the debate on how to end it will heat up, I thought it important to update the Modest Proposal, in preparation for the debates to come. Click here for a copy. The main difference from the last version concerns the first step: Rather […]

Two New Initiatives for 2011: vitalspace.org and 'The Global Minotaur'

, 03/01/2011

This blog began life a few months ago in response to the European crisis and with a view to campaigning in favour of our Modest Proposal. The New Year comes with a renewed commitment to the Modest Proposal but also with two new initiatives. The first new initiative is called vitalspace.org; a joint project with […]

The Modest Proposal and the Juncker-Tremonti Plan: A comparison

, 14/12/2010

France and Germany have ensured that this week’s European Council will not debate the Juncker-Tremonti plan for addressing the current euro crisis by covering part of existing sovereign debt by issuing eurobonds. Nevertheless rumours of the plan’s death are premature overstated. France and Germany know well that something along the JT plan is unavoidable, if […]

The Modest Proposal fully adopted by Europe’s Trades Union Council. And backed, in part, by Jean Claude Juncker in the FT

, 06/12/2010

In the past few days, our Modest Proposal for the resolution of the euro crisis seems to have made headway on two separate, quite disparate, fronts. On Wednesday 2nd December, the European Trades Unions Council (the confederation of Europe’s trades unions) endorsed it fully and unequivocally in its Agenda Item 5c which came under the […]

The Modest Proposal for the Euro in Greek

, 18/11/2010

Πατήστε εδώ και εδώ (σε δύο δόσεις) για την ελληνική έκδοση της Πρότασής μας  για έξοδο της ευρωζώνης από την Κρίση, την οποία στα αγγλικά την αποκαλούμε A Modest Proposal. Ακόμα παρακάτω παραθέτω το κείμενο πρόσφατης ομιλίας μου με παρόμοιο θέμα: Ομιλία Γιάνη Βαρουφάκη στην Εκδήλωση της Επιστημονικής Ένωσης Δικηγόρων, Παρασκευή 26η Νοεμβρίου 2010, Πνευματικό Κέντρο […]

The Modest Proposal for the Euro

, 16/11/2010

A two-part plan for overcoming the eurozone’s crisis, re-designing its crumbling architecture, and reinvigorating the European Project (jointly authored with Stuart Holland, ex Member of Parliament in the UK, a former advisor to Jacques Delors and, currently, Visiting Professor at Coimbra University, Portugal)

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