English European Crisis Uncategorized

Eurobonds: Not a question of ‘whether’ but one of ‘who will issue them’ and ‘who will back them’

by Yanis Varoufakis and Stuart Holland Ever since the Crisis erupted, Europe’s leaders have reacted to the suggestion that eurobonds are sine qua non with a familiar repertoire of responses. First came denial of the need for eurobonds, coupled with a snub for those who proposed them. More recently, we witnessed depression at the realisation […]

English European Crisis Greek Crisis Uncategorized

Hour long radio interview (91.5FM WNYE New York) on the eurozone crisis and the Modest Proposal

Hour long radio interview (91.5FM WNYE New York, broadcasting across NY, NJ, CT, and PA) in which I discussed the euro crisis, explained  why eurobonds are essential as long as they are not guaranteed by the eurozone’s member-states, and argued in favour of the continuing appeal of the Modest Proposal (click here for the Levy Institute […]

English European Crisis Uncategorized

To the Finland Station: The undoing of the Menshevik Approach to the Euro Crisis

When Lenin alighted on 3rd April 1917 at Petrograd’s Finland Station, a train was set in motion that upstaged, and eventually overturned, the Mensheviks’ plan for an ‘evolutionary’ path from absolute Tsarism to some form of social democracy. Ironically, it took a Finnish social democrat (newly elected finance minister Jutta Urpilainen) to derail once and […]

English European Crisis Uncategorized

Why Eurobonds are Essential and Fiscal Union a Folly (Or how to escape the equally untenable positions of German economists Thomas Straubhaar and Otmar Issing)

The context: In the middle of a mighty bushfire the fire brigade just held a summit between its chief fire fighters (Mrs Merkel and Mr Sarkozy) to discuss the importance of biodiversity, leaving the flames to destroy the forest. Italy and Spain are collapsing. The EFSF, the only institution that was set up to deal […]

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 […]