English European Crisis Greek Crisis Politics and Economics Uncategorized

On the Political Economy of Eurozone Bailouts – The curious bargain of Greece’s Hayekian neoliberals

Following the Crash of 1929, an epic debate began between liberals who believed in capitalism’s automatic stabilisers and John Maynard Keynes who did not. Today, in Bailoutistan (Greece and the other fallen eurozone countries), this debate has taken an interesting, sad, twist.

English European Crisis Uncategorized

Europe’s impending Phantom Limp Syndrome

This being the weekend, and waking up in Adelaide about to be immersed in the performance and visual arts (also known as the Adelaide Festival), permit me a different kind of thought/post for the day; an impressionistic comment on all this talk about severing some of the eurozone’s member-states in order to ‘save’ the eurozone; […]

English European Crisis Greek Crisis Uncategorized

Crisis Appeasement: The new Greek Bailout as a ‘Euro in Our Time’ moment

According to the official narrative, the euro was saved (again) by preventing a ‘disorderly’ Greek default and against the background of Mario Draghi’s Central Bank ‘activism’. So much for the official narrative. For in my estimation, the sight of our leaders proclaiming such victory against the Crisis has a strong whiff of the moment Neville […]

English European Crisis Media The Global Minotaur: A theory of the Global Crisis Uncategorized Video

My documentary for Channel 4: The Eurozone, the Ant and the Grasshopper

A Special Report commissioned by Channel 4 (UK), based on an earlier post in this blog entitled Never Bailed Out: Europe’s ants and grasshoppers revisited  See also the piece I wrote for Channel 4’s website. And do not neglect to watch the full interview with Mr Robert Halver, Baader Bank’s Chief economist. It sheds plenty […]

English European Crisis Uncategorized


While Greece burnt, and the Parliament of the Hellenic Republic was insincerely accepting impossible conditions for implementing yet another unworkable fiscal adjustment plan, the buzz in Frankfurt’s financial district was an exciting, fresh German Plan A.[1] For the first time in two years, since the euro Crisis began, Germany’s captains of finance could be seen […]