English Essays

The idea of a wholesale attack on private and public European debt is catching on.

It seems that our idea of a multilateral negotiation for reducing the total size of state debt and bank losses is catching on. Here is what  Gerald Holtman wrote in the FT today: The problem is that if you force investors to shoulder some of the losses you cannot move one country at a time. […]

English Essays

A New Versailles Treaty Haunts Europe. (And this time it is not just me thinking so…)

Last May, when the ‘rescue’ package was imposed by the EU and the IMF on Greece, all commentators were talking of a ‘bail out’ for Greece, differing only on whether it was deserved or not. A minority protested that the supposed rescue was bad for Greece, in that it came with some many strings attached […]

Books English European Crisis Uncategorized

The Modest Proposal for the Euro in Greek

Πατήστε εδώ και εδώ (σε δύο δόσεις) για την ελληνική έκδοση της Πρότασής μας  για έξοδο της ευρωζώνης από την Κρίση, την οποία στα αγγλικά την αποκαλούμε A Modest Proposal. Ακόμα παρακάτω παραθέτω το κείμενο πρόσφατης ομιλίας μου με παρόμοιο θέμα: Ομιλία Γιάνη Βαρουφάκη στην Εκδήλωση της Επιστημονικής Ένωσης Δικηγόρων, Παρασκευή 26η Νοεμβρίου 2010, Πνευματικό Κέντρο […]

English Essays

Gavan Butler links the East Asian collapse of the late 1990s to the current euro crisis

I just received the following email from my friend and colleague Gavan Butler, in response to my piece on the euro crisis. I think it makes for interesting reading: Dear Yanis. I enjoyed your contribution. It took me back to the debates in the period 2001 to 2003 about what differently might have been done […]

Books English European Crisis Greek Crisis Uncategorized

The Modest Proposal for the Euro

A two-part plan for overcoming the eurozone’s crisis, re-designing its crumbling architecture, and reinvigorating the European Project (jointly authored with Stuart Holland, ex Member of Parliament in the UK, a former advisor to Jacques Delors and, currently, Visiting Professor at Coimbra University, Portugal)

English European Crisis

An earlier version of my modest proposal, as published in MRZine.org

PREAMBLE It is now abundantly clear that each and every response by the eurozone (EZ) to the galloping sovereign debt crisis has been consistently underwhelming. This includes, back in May, the joint EZ-IMF operation to ‘rescue’ Greece and, in short shrift, the quite remarkable overnight formation of a so-called ‘special vehicle’ (officially the European Financial […]