ATHENS – Like Macbeth, policymakers tend to commit new sins to cover up their old misdemeanors. And political systems prove their worth by how quickly they put an end to their officials’ serial, mutually reinforcing, policy mistakes. Judged by this standard, the eurozone, comprising 19 established democracies, lags behind the largest non-democratic economy in the […]
Dr. Ludger Schuknecht, senior economist at the Germany Finance Ministry, explains his ministry’s viewpoint regarding Greece. This viewpoint essentially holds that Eurozone countries should live within their means; adjust to their debt burdens; and take their reform medicine as needed. If they do so, they will be successful, as illustrated by Ireland, Spain, and Portugal. Greece […]
Plan would have eased Greece’s chronic liquidity shortage, writes Yanis Varoufakis in the Financial Times. A paradox lurks in the foundations of the eurozone. Governments in the monetary union lack a central bank that has their back, while the central bank lacks a government to support it.
In a recently released recording of a teleconference between Yanis Varoufakis and a group of hedge fund managers, Mr Varoufakis spoke frankly about the contingency plans he had developed when he was the Finance Minister.
Stefano Fassina, MP and former Deputy Finance Minister of Italy, kindly sent me the following opinion piece. While convinced that the “controlled disintegration of the eurozone” that he advocates is pregnant with great dangers, this is a debate that Europeans cannot eschew.
Varoufakis is an exception to the norm precisely because he really believes in representative democracy. (Click here for the opendemocracy.net site)
Why I voted NO In an article which was published on Saturday in EfSyn, the former Finance Minister, Y.Varoufakis attempts to explain the reasons why he voted ΄no΄ to the “prior actions” deal that the government brought to the parliament.
In his first interview since resigning, Greece’s former Finance Minister says the Eurogroup is “completely and utterly” controlled by Germany, Greece was “set up” and last week’s referendum was wasted. the full Q&A transcript of our interview with Varoufakis here. Greece has finally reached an agreement with its creditors. The specifics have not yet been published, but […]
Tomorrow’s EU Summit will seal Greece’s fate in the Eurozone. As these lines are being written, Euclid Tsakalotos, my great friend, comrade and successor as Greece’s Finance Ministry is heading for a Eurogroup meeting that will determine whether a last ditch agreement between Greece and our creditors is reached and whether this agreement contains the degree […]
Sen. Bernie Sanders (I-Vt.) attacked the International Monetary Fund and European authorities on Wednesday for imposing what he called excessive austerity measures on Greece in negotiations over the country’s debt payments. [Click here for the Huffington Post site, or read on]
ATHENS – On September 6, 1946 US Secretary of State James F. Byrnes traveled to Stuttgart to deliver his historic “Speech of Hope.” Byrnes’ address marked America’s post-war change of heart vis-à-vis Germany and gave a fallen nation a chance to imagine recovery, growth, and a return to normalcy. Seven decades later, it is my […]
For the Project Syndicate page click here. ATHENS – Three months of negotiations between the Greek government and our European and international partners have brought about much convergence on the steps needed to overcome years of economic crisis and to bring about sustained recovery in Greece. But they have not yet produced a deal. Why? […]
Jan 20th 2015, 14:10 BY YANIS VAROUFAKIS | UNIVERSITY OF ATHENS Yanis Varoufakis is a professor of economic theory at the University of Athens and Syriza parliamentary candidate in the general election on 25th January. In November he outlined a plan to revive the euro-zone economy. Here he discusses quantitative easing in the euro zone.
In this powerful, balanced article, published today in conservative UK daily THE TELEGRAPH, Ambrose Evans-Pritchard makes important points on Greece and a prospective SYRIZA administration: Events have rudely exposed the illusion that the Greek people will submit quietly to a decade of colonial treatment and debt servitude… Greece was sacrificed to buy time for the alliance, […]
In an article entitled “ECB should fire up its helicopters“, Clive Crook comments positively on this proposal for QE by the ECB taking the form of massive purchases of EIB bonds. The article also surveys other important ideas that would, if the political will were to be found, be helpful in the fight against misanthropic, unnecessary, stagnation. […]
Regular readers need no introduction to Stuart Holland; co-author of The Modest Proposal, former British MP and aid to Jacques Delors, responsible for starting the conversation about the Eurozone’s need for eurobonds (in… 1993), creator of the European Investment Fund and a staunch advocate of the need to turn the European Investment Bank into the […]
The Economist kindly invited me to contribute an op-ed to a ’roundtable’ on what form Quantitative Easing should take place in Europe. For The Economist’s site click here. Or read on…