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Euroleaks: Why release? And why now?

, 16/02/2020

During 2015’s first half, as Greece’s finance minister, I participated in thirteen crucial Eurogroup meetings – before the SYRIZA government (disrespecting the referendum result of 5th July) capitulated. The result of that capitulation was my immediate resignation and a permanent austerity program (until… 2060).  From the beginning, the first Eurogroup, it was clear that the […]

My review of Banerjee & Duflo’s (this year’s Nobel winners in economics) latest book – The Observer

, 14/11/2019

REVIEW: Good Economics for Hard Times: Better Answers to Our Biggest Problems, by Abhijit Banerjee and Esther Duflo A recent YouGov survey confirmed that economists are the least trusted professionals in the UK today. Brexit is only the latest contributor to the public’s understandable rejection of a profession that has either failed spectacularly to raise […]

Quantitative Easing: Its rationale, impact and the future of the world economy – Audio of speech delivered at ICA 2019

, 12/11/2019

Hosted by Bahrain Financial Market Association, the two-day conference organized in cooperation with the Central Bank of Bahrain themed “Reshaping Finance in a Changing Economy”. The ICA hosted the Greek former Minister of Finance Professor Yanis Varoufakis at a panel discussion moderated by Dr. Jarmo T. Kotilaine the Chief Planning and Monitoring Officer of Tamkeen. Other […]

“El ‘establishment’ y la ultraderecha se necesitan” – El Mundo

, 21/10/2019

Costa Gavras adapta al cine su libro autobiográfico en la película ‘Comportarse como adultos’ que se estrena el viernes. Yanis Varoufakis es el autor del libro en el que se basa la última película de Costa-Gavras. SANTI COGOLLUDO Yanis Varoufakis (Falero, 1961) es de los pocos ex ministros de finanzas (con o sin moto) que puede […]

Must we replace the dollar with a shared international currency unit? On the BBC World Service’s REAL STORY

, 06/09/2019

Mark Carney, Governor of the Bank of England, recently said that we need a new international currency unit to replace the US dollar. In this BBC World Service program, I was asked what I thought of the idea. For more of a background to my answer click here. (For the whole BBC program, click here.)

The IMF functions like the US-European bankers’ bailiffs – Varoufakis and Rogoff on BBC World Service’s World Business Report

, 28/08/2019

The International Monetary Fund’s latest $56 billion loan to Argentina is at risk of failing again. The Argentinian peso has slumped and opposition leader Alberto Fernandez wants to ditch the austerity conditions attached to IMF bailouts that have so far failed to reduce inflation, stabilise the currency or halt recession. The Washington-based multilateral organisation monitors […]

Stagnant Capitalism – Financial News & Project Syndicate

, 21/03/2019

When the Great Depression followed the 1929 stock-market crash, almost everyone acknowledged that capitalism was unstable, unreliable, and prone to stagnation. In the decades that followed, however, that perception changed. Capitalism’s post-war revival, and especially the post-Cold War rush to financialised globalisation, resurrected faith in markets’ self-regulating abilities. Today, a long decade after the 2008 […]

German political economy’s two naughty sisters in action, once again – George Krimpas guest post

, 04/03/2019

The lean years are here again, to the apparent satisfaction of Germany’s Finance Minister, a Social Democrat.  The rate of growth of the budgetary surplus was declining, therefore restraining expenditure was the prudent attitude, the public must rest assured that over the next few years 25 billion euros will be saved, the chance of a […]

Utopian science fictions legitimising our current dystopia – 2019 Taylor Lecture, Oxford University

, 19/02/2019

The Faculty of Medieval and Modern Languages, Oxford University, kindly invited me to deliver the 2019 Taylor Lecture on 12th February 2019. I chose the topic of  Realistic Utopias versus Dystopic Realities – my aim being to highlight the manner in which really-existing capitalism is marketed as a utopian science fiction that has nothing to do with… really-existing capitalism. Behind this elegant utopian […]

David Adler explaining our radical vision for a New Bretton Woods on CNN

, 05/02/2019

The president of the World Bank, Jim Yong Kim, just stepped down  in search of greener pastures. His readiness to resign  prompted David Adler (DiEM25’s Policy Coordinator) to I to write this op-ed in The Guardian arguing for a New Bretton Woods. In this CNN interview David explains what we mean.

At the Edinburgh Festival, in conversation with Jeremy Corbyn on reviving socialism, with Maria Alyokhina (Pussy Riot) on despotism, and with Shami Chakrabarti on liberty

, 08/01/2019

In 2018, the good people behind the Edinburgh Festival kindly invited me to host a series of discussions under the title KILLING DEMOCRACY? My remit was: Further to explore the question of whether the current form of financialised capitalism is devouring democracy, reflecting on my work with the Democracy in Europe Movement (DiEM25). In a series […]

Realistic Utopias versus Dystopic Realities – Oxford University, Taylor Lecture, 12/2/2019

, 22/12/2018

The Faculty of Medieval and Modern Languages, Oxford University, kindly invited me to deliver the 2019 Taylor Lecture on 12th February 2019. In my book was addressed to my daughter regarding the economy I tried to offer her a simple, though not simplistic, account on how capitalism works and how it fails. Critics, correctly, pointed out that the book’s […]

Behind the closed doors of negotiations with the EU? – The Guardian podcast, November 2018

, 10/11/2018

As the Brexit negotiations near crunch point, Theresa May is still battling to keep her party on side as she edges closer to a deal with Brussels. But is it possible to take on the EU in negotiations and win? One man who staked his political career on trying just that was the former Greek finance minister Yanis […]

DiEM25’s radical Europeanist political agenda – Interviewed by Jacobin’s David Broder

, 03/11/2018

Last Friday, Yanis Varoufakis was in Italy to promote European Spring, a list of candidates standing across the continent in next May’s European election. The former Greek finance minister visited Rome just days after the European Commission had struck down the Italian government’s budget, sparking further rows over Brussels’ authority to curb member states’ spending. […]

On Europe’s austerity drive and DiEM25 – an OECD podcast

, 15/10/2018

One country that symbolised the crisis of the last 10 years was Greece. Its insolvency embarked the country on a long regime of bail-outs and austerity. This August, Greece officially emerged from the crisis, with the OECD forecasting GDP growth again. So, did the austerity work? The former Greek finance minister and co-founder of the […]

The 5S-Lega Italian government is continuing the failed Renzi strategy of demanding the right to bend the fiscal rules without demanding a re-assessment of the fiscal rules – interviewed for AGI by Arcangelo Rociola

, 03/10/2018

This is the English language (original) interview with Arcangelo Rociola, published on the AGI site in Italian, on the Italian government’s clash with Brussels over its budget deficit, the plans for a flat tax (that is not flat) and a universal income (that will never be universal), the 5S Movement’s claim to the mantle of the […]

2008 and the International New Deal we need for the post-2018 world – OECD Keynote, 14 SEP 2018

, 18/09/2018

    2008 marked globalised capitalism’s near death experience. A decade later we have no right to be looking at those events as part of our economic history. The reason? We are still entangled in the crisis that the events of 2008 sparked off. They remain very much at the centre of our present. The […]

Is the world safer than it was in 2008? Ten Guardian writers think not

, 17/09/2018

Yanis Varoufakis: Risk has not been diminished, just taken out of sight Ten years after its near-death experience, capitalism is back to its old ways. Bailouts for the few and austerity for the many have caused global debt to rise 40% since 2007. Yes, British and European banks have contracted (as US authorities required Barclays, Deutsche […]

Lessons from 2008 for beyond 2018: Keynote this Friday 14th September at the OECD, Paris

, 12/09/2018

Before 2008 we could all see that global trade imbalances were growing inexorably, creating a glut of savings in surplus countries that flowed into deficit countries, causing house price, stock exchange and debt bubbles whose bursting would never end well. What few could see, however, was that, behind the dominant narrative of unfettered competition and […]

Ten Years After Lehman’s Collapse: What caused the Crash of 2008 is now shaping our post-modern 1930s – der Freitag

, 10/09/2018

  In the autumn of 2008 events unfolded in Wall Street that the crushing majority of people around the world had been led to believe could never occur. It was the financial equivalent of watching the sun spinning out of control soon after it rose above the horizon. Humanity watched on in collective disbelief. The […]

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