As regulars of this blog know, I am of the view that the eurozone’s collapse will be a harbinger of a postmodern 1930s. While virulently opposed to the eurozone’s creation, in its time of crisis I have been campaigning for saving the euro. Of course, as Alain Parguez wrote aptly here, it is impossible to […]
The following proposal is due to Alain Parguez, Emeritus Professor of Economics, University of Franche-Comté, Besançon-France ( www.neties.com/parguez ). Professor Parguez has been a longstanding critique of European Union affairs. His incisive critique of the eurozone’s architecture predates by many years the current Crisis. Always fascinated by his views , I am grateful for the […]
Who is in charge of the clattering train The axles creak and the couplings strain The pace is hot and the points are near Sleep has deadened the driver’s ear And the signals flash in the night in vain For Death is in charge of the clattering train. [From an old, yellowing copy of Punch […]
The Foreign Press Association, London, paid me the compliment of inviting me to deliver a keynote speech at its 2011 Annual Awards Night. Here is the text of my talk (kindly transcribed by a journalist that wishes to remain anonymous).
In this video conversation with Henry Farrell (Professor of Political Science and International Affairs at George Washington University) we are discussing the euro crisis. Note that at around the 20th minute of the discussion I explain why, in my opinion, Baroso’s eurobond proposal is dead in the water. I argue that Baroso’s European Commission is desperately […]
James Galbraith was the unstoppable force behind the Crisis in the Eurozone Conference that took place at the Lyndon B. Johnson Graduate School fo Government, University of Texas, on 3rd and 4th November. (Click here for the program.) My great regret is that such a magnificent conference could never be held in… Europe. For Europe […]
Only yesterday, La Stampa (Turin’s daily newspaper) reported that Brussels is contemplating three possibilities regarding Eurobonds. The paper is quoting from the so-called Green Book on the Feasibility of Stability Bonds: (1) complete transfer of national treasury bonds to a European agency with joint guarantees (EU and member states) (2) Blue vs Red bonds, with […]
On Europe’s last chance, Wolgang Munchhau’s error and the urgent need for ECB-bonds: Our euro-chickens are coming home to roost. Europe has only one last chance to reverse the eurozone’s disintegration: It must issue a new form of euro-denominated bond which will: (a) arrest the ‘popcorn effect’ (a much better term than the domino effect) that […]
On 8th November 2011, Rick Wolff invited me to a double act at the Brecht Forum (downtown NYC). Our topic: Rick gave a brilliant wrap up of the recent developments on the US Crisis front. My brief was to start with Greece before discussing more broadly the European debacle. Afterwards Costas Panayotakis commented on my […]
The continent is destroying the weak to protect the strong. But will that be enough? Click here
Interviewed by Doug Henwood in New York. 11th November 2011. Click here.
The official unveiling of a systemic crisis One knows that there is something rotten in the world economy when the fate of a Greek PM makes headlines all over the world and for a whole week. Greece is not, and ought not to be, that important. But Italy is. And so is, from a global […]
Here comes the second part of my hour long interview-debate on the Crisis. Not only did Steve Paikin prove an excellent, well read, internviewer but, to boot, I had the pleasure and honour of debating, in the program’s second part, with Colin Bradford (Brookings Institute and Project Leader of Brookings-CIGI Global Governance Reform Project) and Mattias […]
The Agenda with Steve Paikin, an in-depth current affairs program on Canadian public TV, kindly afforded me an hour long interview on all aspects of the Crisis (Greece, euro, global).