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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 […]

Im Reich der Gier – der Freitag

, 10/09/2018

Mythos Der Kapitalismus ist entzaubert und bringt uns das größte Faschismusproblem seit den Dreißigern Was im Herbst 2008 an der Wall Street geschah, hatten die allermeisten Menschen bis dahin für unmöglich gehalten, schließlich hatte man ihnen jahrelang weisgemacht, dass etwas Derartiges schlichtweg nicht passieren könnte. Es war, als ob man dabei zuguckt, wie die Sonne, kurz […]

CRASHED: Long version of my Observer review of Adam Tooze’s new book on the Crash of 2008

, 13/08/2018

Every so often humanity manages genuinely to surprise itself. Events to which we had previously assigned zero probability push us into what the ancient Greeks referred to as aporia: a state of intense bafflement urgently demanding a new model of the world we live in. The Crash of 2008 was such a moment. Suddenly, the […]

If Trump wants to blow up the world order, who will stop him? op-ed in The Guardian

, 19/07/2018

Even before Donald Trump drove to tears of dismay NATO’s leaders, Theresa May, the EU’s officialdom and Washington’s own ‘intelligence community’, the writing was on the wall: Trump is methodically dismantling a world order that he no longer believes to be in the interests of the United States’ ruling class. Mon 11 Jun 2018 16.23 BST Donald Trump’s early […]

Why Germany neither can nor should pay more to save the eurozone – IFO Munich Seminar, 11 June 2018

, 17/07/2018

 “I wanted a Germany that was hegemonic and efficient, not authoritarian and caught up in a European Ponzi scheme. That was in 2013.” Excerpt from the Munich Seminar. This CESifo group Munich seminar took place on June 11, 2018 in Ludwig-Maximilian University, in Munich, in the Grosse Aula of the Ludwig-Maximilian University. The euro crisis has highlighted […]

The Globalising Wall: How Globalisation built walls and divisions. By Y. Varoufakis & D. Stratou, in the Architectural Review

, 20/06/2018

Our theme is a wall. A wall that is neither some ordinary physical structure at a specific site, nor a symbolic wall. It takes a material form in sites around the globe while transcending locations and leapfrogging whole continents as if in a strange quest to globalise itself, to infect our supposedly unifying world with […]

Internationalism vs Globalisation: Why progressives across Europe and beyond must forge a common internationalist movement – Talk at the Royal Festival Hall, accompanied by Andreas Gursky’s images and Danae Stratou’s ‘The Globalising Wall), 9 APR 2018

, 13/04/2018

Ladies and Gentlemen, my heartfelt thanks for your presence here tonight. Thanks also to the good people at South Bank who honoured me with the humbling idea and invitation to combine my own musings on globalisation with the remarkable images of Andreas Gursky – images which have, over the years, done so much to enlighten […]

INTERNATIONALISM vs GLOBALISATION, at the Royal Festival Hall, London, in association with the adjacent Andreas Gursky exhibition at the Hayward Gallery – this Monday 9th APR 2018, 19.30

, 07/04/2018

Join economist and Democracy in Europe Movement 2025 (DiEM25) co-founder Yanis Varoufakis for a keynote talk on the economic force that has shaped our world: globalisation. This South Bank talk is punctuated by images from acclaimed German photographer, Andreas Gursky, whose iconic photographs have documented global capital and its effects for three decades, and whose […]

Trump and trade tariffs: big lies founded on small truths – The Guardian, 18 MAR 2018

, 18/03/2018

Donald Trump is perhaps the US president best equipped to understand that some rise by sin, and some by virtue fall. His personal business plan always involved racking up enormous deficits and debts, before finding a way to unload them on to others – his employees and creditors mostly. Last week the US president imposed tariffs […]

Long review of ‘Adults in the Room’, by J.W. Mason, in the Boston Review

, 13/02/2018

Adults In The Room: My Battle With Europe’s Deep Establishment Yanis Varoufakis Farrar, Straus and Giroux, $28.00 (cloth) In the spring of 2015, a series of debt negotiations briefly claimed a share of the world’s attention that normally goes only to events where celebrities give each other prizes. Syriza, a scrappy left-wing party, had stormed into […]

Internationalism vs Globalisation – op-ed in The Globe & Mail, published as “Globalization is stuck in a trap. What will it be when it breaks free?” – 12 JAN 2018

, 14/01/2018

Back in 1991, a left-wing friend expressed his frustration that “really existing socialism” was crumbling, with exaltations of how it had propelled the Soviet Union from the plough to Sputnik in a decade. I remember replying, under his pained and disapproving gaze: “So, what? No unsustainable system can be, ultimately, sustained.” Now that globalization is also […]

How Trump rose to power (in 2’33”) – Business Insider video

, 09/11/2017

Yanis Varoufakis, former finance minister of Greece and author of “Adults in the Room: My Battle with the European and American Deep Establishment,” explains that the rise of Donald Trump and the alt-right is a symptom of the failure of the establishment and liberal capitalism. Following is a transcript of the video. Yanis Varoufakis: My name is Yanis […]

The Great Crash (2007/8) ten years on – talking on BBC Radio 4’s World At One special program

, 11/08/2017

  In this BBC World at One program dedicated to the Crash of 2007-8, I try, in the space of two and a half minutes, to explain why those momentous events, ten years ago, changed the world in a manner that it no longer makes sense in terms common prior to 2007. Of why I claim […]

Trump, the Dragon, and the Minotaur – Project Syndicate op-ed

, 28/11/2016

  ATHENS – If Donald Trump understands anything, it is the value of bankruptcy and financial recycling. He knows all about success via strategic defaults, followed by massive debt write-offs and the creation of assets from liabilities. But does he grasp the profound difference between a developer’s debt and the debt of a large economy? […]

Trump, our post-modern 1930s and DiEM25’s moment

, 11/11/2016

[Originally published here] The election of Donald Trump symbolises the demise of a remarkable era. It was a time when we saw the curious spectacle of a superpower, the US, growing stronger because of – rather than despite – its burgeoning deficits. It was also remarkable because of the sudden influx of two billion workers […]

Why America still matters

, 10/11/2016

Why is America still important? Below I copy the answer I gave in 2011 in the last chapter of The Global Minotaur: America, Europe and the Future of the World Economy. (For those not familiar with the economic meaning of my Minotaur allegory, read this.) Today, as the Trump Presidency looms, I fear that that conclusion […]

Resisting Resentment Politics Down Under – guest post by Paul Tyson

, 10/11/2016

How owning our Resentment can save Australian Politics In this piece, Paul Tyson, honourary Research Fellow at the University of Queensland, outlines his take on the rise of rightwing populist resentment, as a powerful political force, from an Australian perspective.

Imagining a New Bretton Woods – Project Syndicate op-ed

, 08/05/2016

The financial meltdown of 2008 prompted calls for a global financial system that curtails trade imbalances, moderates speculative capital flows, and prevents systemic contagion. That, of course, was the goal of the original Bretton Woods system. But such a system today would be both untenable and undesirable. So, what might an alternative look like?

The Origins of the European & Global Economic Crisis – on acTVism Munich

, 03/02/2016

https://www.youtube.com/watch?v=5x9APkNeqe4&feature=iv&src_vid=ZcXZVPhjV8E&annotation_id=annotation_4056056273

This Friday, in London: Toward a New Politics for Europe – with Paul Mason

, 19/10/2015

Ever since the financial crash, the left has struggled to articulate a future for Europe that takes into account the needs of all its citizens. But this year, two anti-austerity movements with very different styles shot to prominence and to popularity - Syriza in Greece and Podemos in Spain. The UK is witnessing the surge [...]

What happened in China? In a few words, from The Global Minotaur 2011,2013

, 25/08/2015

Greece is off the headlines, for now, as China’s crisis has taken over. In our globalised world, the two crises are utterly intertwined, both the repercussions of global capitalism’s 2008 ‘moment’. Here are some extracts from my The Global Minotaur, both the 2011 and the 2013 editions…

«La Grèce peut forcer l’Europe à changer» – La Tribune

, 21/01/2015

INTERVIEWYanis Varoufakis is a candidate for Syriza to the 25 January elections in Greece. (Credit: Reuters) Interview by Romaric Godin, Athens  | 01/20/2015, 1:16 p.m. – 2597 words Yanis Varoufakis, economist and author of “Minotaur Planetary” is a candidate for the party of the radical left Syriza in the elections of January 25. He explains […]

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