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The Modest Proposal’s Most Controversial Recommendation Foreshadowed in the FT; plus Gordon Brown (former UK PM) and Sigmar Gabriel (SPD Chairman) adopting its main principles

, 10/08/2011

In recent days, the Modest Proposal (click here for the Levy Institute version) has received a fillip from three different sources: The FT’s Lex (who argues that the ECB may well have to issue its own bonds), Sigmar Gabriel (SPD’s Chairman) and Gordon Brown (the UK’s former PM).

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 […]

On the US and EU debt crises: My ten minute Radio Scotland interview

, 08/08/2011

Last Saturday, I was interviewd by Derek Bateman on BBC Radio Scotland. I post that interview here only because Derek put some poignant questions regarding the linkages between the EU and US crises and, more so, the irrationality of the EU’s approach (on which I shall have much more to say in an already promised […]

What the Modest Proposal asks of the ECB: Responses to a reader’s criticisms

, 06/08/2011

Manos Makrakis, a reader of this blog, has expressed strong reservations about the newfangled role that our Modest Proposal assigns to the European Central Bank (see Policy 1). His text appears below in full. Here are, in numbered points, my reply:

Why Italy? Why Spain? And why the EFSF’s size does not matter

, 04/08/2011

Italy and Spain are tumbling because one problematic structure (the European Financial Stability Fund, the EFSF) has been conjured up in order to prop up another problematic structure (the eurozone). The result is that both structures are reaching the end of their tether. Enlarging the newer of the two problematic structures (the EFSF) will not […]

Greece cannot be rescued unless the eurozone is redesigned: Interviewed on ABC LATELINE

, 25/07/2011

Here is the transcript and video of my ABC TVextended  intrerview on LATELINE regarding the recent Greek ‘rescue’ plan. Any comments? Transcript ALI MOORE, PRESENTER: Well just a short time ago I spoke to Yanis Varoufakis, an economist at Athens University. Yanis Varoufakis many thanks for talking to Lateline tonight. YANIS VAROUFAKIS, ECONOMIST, ATHENS UNIVERSITY: […]

Europe’s Faustian Bargain: On the latest attempt to resolve the Greek debt crisis and its repercussions

, 22/07/2011

The Agreement reached yesterday by Europe’s political and financial elites is meant to tackle, once and for all, the Greek debt problem. Just as in May 2010 the idea was that intra-eurozone contagion could be prevented by ringfencing Greece (recall the first Greek bailout, the creation of the European Financial Stability Facility, the EFSF, and […]

Missive from the Libyan Sea: Thursday's meeting, if it takes place, will add to the litany of gross failures

, 18/07/2011

Still on holidays, and still under-informed about the goings on (I just manage to read snippets of the news on my mobile phone, whenever a signal miraculously appears on its screen). And yet it seems certain that the Thursday EU summit (of which I got a brief whiff in a few tweets I stimbled upon), […]

Europe's titanic: A quick glimpse from a tiny inflatable off Crete's southern coast

, 15/07/2011

This is, I warn you dear reader, no proper post. Written on a tiny inflatable boat off the southern Cretan coast, where my phone occasionally links up to civilised society, I manage to pick up signals from a predictably distressed Europe. Of these signals, two stuck out, emitted by two ministers of finance: Italy’s and […]

James Galbraith on the European Project's critical moment

, 09/07/2011

James Galbraith kindly sent me the following piece, commissioned by DW, with the premission to reproduce it here. It is both a timely and an astute piece entitled Unless it’s reformed, Europe’s project is doomed. Enjoy:

George Momferratos, on how best to promote the Modest Proposal

, 09/07/2011

Extracts from an intervention, on the Modest Proposal and how best to avoid negative reactions to it (especially here in Greece) from George Momferratos. See also below for my response. What do readers think? Your input will be appreciated.

American Common Sense on Europe: The NYT largely adopting the logic of the Modest Proposal, and even Jeffrey Sachs making sympathetic noises

, 07/07/2011

For some time the rest of the world has been finding it hard to follow the passionate infighting in the US over the federal budget. Only two years after Barrack Obama’s landslide, the United States became, effectively, ungovernable. The current standoff regarding the mystical (to non-Americans) debt ceiling causes a mixture of consternation and incredulity […]

FALSITY MOST FOUL: Why Jean Claude Juncker is precisely, and inexcusably, wrong regarding the Greek crisis and its causes

, 07/07/2011

Jean Claude Juncker has, in the past, taken courageous positions that exuded far-sightedness.[1] However, his latest intervention regarding the Greek debt crisis reveals a serious inability to grasp the euro crisis in its entirety. On 3rd July he told Focus Magazin that "[t]he sovereignty of Greece will be massively limited", referring of course to the [...]

How much for your children? Discussing the Greek crisis on the Keiser Report

, 06/07/2011

Interviewed by Max Keiser for the Keiser Report. Click here and go to 14′  

Declaration by distinguished former European Leaders in Support of the Modest Proposal’s main tenets: The urgent need for a fresh New Deal for Europe

, 04/07/2011

Europe’s most serious deficit is political. A dearth of political will, democratic legitimacy and purposeful, farsighted leadership is responsible for the Eurozone’s repeated failures to get to grip with the Crisis’ different manifestations. Proposals like that our own Modest Proposal, of Tremonti-Yuncker and others offered Europe obvious alternatives to the current policy mix which exacerbates […]

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) – […]

The Modest Proposal featured in UBS Client Magazine (Wealth Management Research) and in Basler Zeitung (Swiss Financial Newspaper)

, 30/06/2011

      That these are turbulent times I need not remind you of. But when ‘radical’ views (like our Modest Proposal) are (A)  endorsed by, on the one hand, demonstrators on the streets of Athens (whom I addressed in past weeks) and (B) promoted by banking colossus UBS in its recent Wearlth Management Research […]

Presenting the case for the Modest Proposal on Irish and Scottish radio, plus a BBC World Service debate with Daniel Gros and a German based colleague (in which a surprising degree of agreement was reached)

, 19/06/2011

Newstalk Dublin, interviewed (extensively) on the Modest Proposal by Karen Coleman, for a program called Wide Angle (Sunday 19th June 2011) [GO TO PART B: From 3′ onwards] http://media.newstalk.ie/listenback/229/sunday/1/popup  BBC Radio Scotland, longish interview by Ken McDonald on the Greek Crisis, in which I present the Modest Proposal, without naming it. A pleasant experience, making […]

The penny may be dropping? Five interviews/debates in which yours truly struggles to make a self-evident point (Al Jazeera, BBC, ABC, Bloomberg, Die Zeit)

, 17/06/2011

During the past 24 hours I was involved in a large number of interviews with non-Greek media outlets. For those interested, a collection of links is provided below. The main reason for bothering you with these interviews is that they reveal a gradual Gestalt shift. Whereas a year ago no one in the media took […]

The European conundrum (as I experienced it in a TV debate last night)

, 16/06/2011

Permit me dear reader to say nothing about the farce unfolding in Athens presently, except perhaps to comment that when an economy unravels its political regime follows. Today’s post concerns a TV debate in which I participated yesterday. It was hosted by the French global channel France24 and featured two French economists, myself and a […]

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 New York Times’ article on our Modest Proposal: My reaction

, 09/06/2011

As regulars of this blog know, its initial purpose was to promote a different way of thinking about the global, euro and Greek crisis and, in particular, to present what Stuart Holland and I call the Modest Proposal for Overcoming the Euro Crisis. (See also the plethora of supporting posts here.) Today, the New York […]

Article in Die Zeit, promoting the Modest Proposal

, 13/05/2011

A couple of days ago, Die Zeit kindly invited me to write an article expounding the virtues of the Modest Proposal for Overcoming the Euro Crisis in view of the Der Spiegel article that raised the alarm regarding Greece’scurrent predicament. In effect, Die Zeit gave me a forum from which to argue that this is […]

James Galbraith links that which Bernanke did not say with the European banking crisis

, 28/04/2011

In a recent tv interview (click here) Jamie Galbraith was asked to list the questions that he would have put to Ben Bernanke (were he able to monopolise the Fed Chairman’s press conference). Galbraith made a large number of interesting points (frased in the form of questions), including (a) a brilliant criticism of S&R’s recent […]

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