English European Crisis Uncategorized

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

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).

English European Crisis Politics and Economics The Global Minotaur: A theory of the Global Crisis Uncategorized

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

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 […]

English European Crisis Greek Crisis Uncategorized

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

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 […]

English European Crisis Greek Crisis Uncategorized

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

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: […]

English European Crisis Greek Crisis Uncategorized

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

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 […]

English European Crisis Greek Crisis Uncategorized

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

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 […]

English European Crisis Greek Crisis Uncategorized

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

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 [...]