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 [...]
English European Crisis Greek Crisis Uncategorized

Declaration by distinguished former European Leaders in Support of the Modest Proposal’s main tenets: The urgent need for a fresh New Deal for Europe

Europe’s most serious deficit is political. A dearth of political will, democratic legitimacy and purposeful, farsighted leadership is responsible for the Eurozone’s repeated failures to get to grip with the Crisis’ different manifestations. Proposals like that our own Modest Proposal, of Tremonti-Yuncker and others offered Europe obvious alternatives to the current policy mix which exacerbates […]

English European Crisis Greek Crisis Modest Proposal Summary Uncategorized

Radio and TV interviews on the Euro/Greek Crisis and the Modest Proposal. Plus an announcement…

For those interested, a number of links to recent radio and TV interviews on the latest twists and turns of the Greek-euro crisis follow: In conversation with Trevor Chappell, on ABC Radio National (27  June 2011) Interviewed in the As It Happens leading news and current affairs program of the Canadian Broadcasting Corporation (CBC) – […]

English European Crisis Greek Crisis Uncategorized

The Modest Proposal featured in UBS Client Magazine (Wealth Management Research) and in Basler Zeitung (Swiss Financial Newspaper)

      That these are turbulent times I need not remind you of. But when ‘radical’ views (like our Modest Proposal) are (A)  endorsed by, on the one hand, demonstrators on the streets of Athens (whom I addressed in past weeks) and (B) promoted by banking colossus UBS in its recent Wearlth Management Research […]

English Essays

When French Folly and German Naiveté unite against Greek debt: Another sorry episode of how not to deal with a systemic crisis

While crises are the laboratory of the future, the euro crisis is proving more like the alchemist’s lair. Back in November, the brilliant idea was touted, with considerable fanfare, of having the EFSF buy (at a discount) Greek and Irish bonds in the secondary market (in order to effect a non-default haircut). Despite the excitement […]

English Essays

The Penny Is Dropping: Mervyn King, Daniel Gros, Jim O'Neill, and the increasing relevance of the Modest Proposal

This blog has been risking its readers’ sanity by repeating ad nauseam, and in a myriad different guises, the claim that the euro crisis is, at root, a chain of bank insolvencies causally attached to another (derivative) chain of member-state insolvencies. And that, as such, all attempts to deal with the resulting Crisis by rivers […]

English European Crisis Uncategorized

Presenting the case for the Modest Proposal on Irish and Scottish radio, plus a BBC World Service debate with Daniel Gros and a German based colleague (in which a surprising degree of agreement was reached)

Newstalk Dublin, interviewed (extensively) on the Modest Proposal by Karen Coleman, for a program called Wide Angle (Sunday 19th June 2011) [GO TO PART B: From 3′ onwards] http://media.newstalk.ie/listenback/229/sunday/1/popup  BBC Radio Scotland, longish interview by Ken McDonald on the Greek Crisis, in which I present the Modest Proposal, without naming it. A pleasant experience, making […]

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The penny may be dropping? Five interviews/debates in which yours truly struggles to make a self-evident point (Al Jazeera, BBC, ABC, Bloomberg, Die Zeit)

During the past 24 hours I was involved in a large number of interviews with non-Greek media outlets. For those interested, a collection of links is provided below. The main reason for bothering you with these interviews is that they reveal a gradual Gestalt shift. Whereas a year ago no one in the media took […]

English Essays

Beyond the Crisis: Markets, planning and a utopian vision (inspired by the American National Football League)

The Crisis, especially in Europe (not to mention Greece), is all consuming. Every day our minds are highjacked by its latest twist. Today, here in Athens, a general strike has temporarily suspended the news’ cycle and given me a few moments to reflect. I thought that today’s post, reflecting this… reflective moment, should transcend that […]