European New Deal
ATHENS – Greece’s never-ending public-debt saga has come to signify the European Union’s inept handling of its inevitable eurozone crisis. Eight years after its bankruptcy, the Greek state’s persistent insolvency remains an embarrassment for Europe’s officialdom. That seems to be why, after having declared the euro crisis over in the rest of Europe, the authorities […]
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 […]
Listen to this insightful one hour-long discussion on democracy’s discontents in Europe and the United States between two economists who, in 2015, worked together to restore democracy in a small European country while helping its people escape debt-bondage. Here they discuss those events as well as the Democracy in Europe Movement (DiEM25) that is now taking […]
The American New Deal of Franklin Roosevelt’s first two terms combined the goals of financial stabilization, reconstruction, conservation, and employment—jobs for the jobless; public works; power systems and new industries, especially in the South; soil conservation and reforestation to battle the Dust Bowl; and a potent mix of regulations and insurance to assert public power […]
Yanis Varoufakis discusses how to negotiate with the EU and his proposal to introduce fiscal money with Anatole Kaletsky, Co-Chairman of Gavekal Draganomics, David Alandete, Managing Editor of El Pais, and Torsten Riecke, Handelsblatt’s international correspondent.
ATHENS – Western capitalism has few sacred cows left. It is time to question one of them: the independence of central banks from elected governments. The rationale for entrusting monetary policy fully to central banks is well understood: politicians, overly tempted during the electoral cycle to create more money, pose a threat to economic stability. […]
ATHENS – Europe is at the mercy of a common currency that not only was unnecessary for European integration, but that is actually undermining the European Union itself. So what should be done about a currency without a state to back it – or about the 19 European states without a currency that they control? […]