English European Crisis Interviews Media Modest Proposal Video

Crisis Update: Three interviews on the Euro Crisis, the Greek Crisis and the Modest Proposal (Radio, TV and print)

UBS Interview promoting the modest Proposal And the crisis sails on… (Anyone recall Fellini’s masterpiece “And the ship sails on”?). In todays post you can: (A) listen to a half-hour long radio interview on the euro crisis (interviewed by Doug Henwood, for the Behind the News program – it begins on the 27th minute), (B) […]

English Essays

Open letter to the Greek Prime Minister

Dear George, A few days after the 2009 election that brought you to power, you told your cabinet in a televised meeting: "We are anti-authoritarians in authority". Most of your cabinet, men and women who had been craving authority for years, looked at you incredulously, while your detractors mocked you. You seemed rather lonesome at [...]
English Essays

Greece, Europe and the Global Economy: A debate with readers

My last post (in which I suggested that Greece will never be pushed out of the euro) generated a spirited debate with readers and friends who chipped in their views on this and related matters. Rather than allowing these exchanges to stay within the margins of the previous post’s Comments section, I reproduce them here […]

English Essays

Privatisation Without Representation: European democracy's last gasp

Once upon a time, the crying call for parliamentary democracy was: No taxation without representation. Centuries passed and the democratic right to representation in all debates prior to taxation decisions was won. Then came the idea that Europe’ peoples should join together, forming a European Union in order to demonstrate to the rest of the […]

English Essays

Eurozone countries are like a group of climbers roped together: Remember where you read this allegory first?

The Financial Times today reports on something John Wraith, fixed income strategist at BofA Merrill Lynch, said regarding the manner in which contagion is spreading within the eurozone economies. “It is like a group of climbers roped together. As Greece slips, it pulls down other countries such as Spain and Italy.” Precisely. But readers of […]

English Essays

ENDGAME: Europe’s time is up

“If you gaze long into an abyss, the abyss will gaze back into you.” Friedrich Nietzsche’s infamous dictum has never had more purchase than in the current phase of the  eurozone crisis. European leaders have been gazing for more than a year into the abyss of our continent’s triple crisis (banking crisis, debt crisis and […]

English Essays

Ring-fenced Greece: The evolution of a false promise first to an incredible threat and, then, to a dangerous delusion

It all started with a false promise: The Greek ‘bailout’ (i.e. a combination of a gargantuan, expensive loan and severe austerity) would contain the Greek debt mountain and would, in association with the establishment of the EFSF a few days later, ring-fence Greece thus preventing the crisis from spreading to Ireland and the Iberian peninsula.

English Essays

On the Political Economics of Dominic Strauss Kahn's Political Death

This post is about the economic and political significance of Dominic Strauss Kahn’s (DSK hereafter) arrest. It will say nothing about the merits or otherwise of the charges against Dominic Strauss Kahn, the IMF’s Managing Director. All cases of alleged sexual assault brought against high profile men place two equally important  (yet often counter-opposed) demands […]