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A free Central Bank account for all would be a good start for a revamped monetary system – WIRED

, 27/11/2020

Imagine that the Bank of England were to create a free bank account for everyone. Overnight, it would be far better placed to regulate the money supply in the public interest. Moreover, to stay in business, commercial banks would have to seriously raise their game. In times of trouble, such as the current pandemic, the […]

Today, Black Friday, we are boycotting Amazon, globally – Damien Gayle in The Guardian

, 27/11/2020

The economist Yanis Varoufakis has called for a one-day boycott of Amazon on Black Friday as trade unionists, environmental activists, privacy campaigners and tax justice advocates plan coordinated actions against the company’s sites and supply chain. Amazon’s success during the coronavirus pandemic – at one point the company was reported to be making sales of $11,000 (£8,200) […]

Live discussion of ANOTHER NOW with Zoe Williams – A GUARDIAN LIVE event this Monday at 19.00GMT

, 21/11/2020

In Another Now, Varoufakis imagines a post-capitalist democracy. Set in 2025, through three contrasting characters – a banker, a feminist and a technologist – he paints a radical and thought-provoking blueprint of how democratic socialism could work today, in a world without billionaires, stock markets or tech giants. Can we truly critique capitalism without genuinely considering the […]

The op-ed that The Guardian would have published had Trump won: Compare and contrast

, 11/11/2020

Before the US Presidential Election the Guardian kindly asked me to write two articles: one in case of a Biden victory, one in case of a Trump victory. I was happy to write them, only to be startled by how similar the two articles ended up being. Interested readers can read here the article that […]

Hoping for a return to normal after Trump? That’s the last thing we need – The GUARDIAN

, 11/11/2020

Normalcy and the restoration of a modicum of decorum to the White House: that is what many elite supporters of Joe Biden hope for now that he has won the election. But the rest of us are turned off by this meagre ambition. Voters who loathe Trump celebrate his loss, but the majority rue the return […]

ANOTHER NOW reviewed by Luke McCarthy in The Monthly

, 24/10/2020

Politics in a time of pandemic are grim. In the face of such global catastrophe, one that has only exacerbated the extractive, sclerotic nature of our existing economy, those on the left are burdened with the question: is there an alternative? And, if there is, how can we get there? These are the very questions […]

How progressives could still win the 21st century – The Correspondent

, 06/10/2020

Our era will be remembered for the triumphant march of authoritarianism in whose wake the vast majority of humanity have experienced unnecessary hardship and the planet’s ecosystem has suffered avoidable climate destruction. For a brief period – a period the British historian Eric Hobsbawm described as “the short 20th century”  – establishment forces  were united in dealing with challenges […]

Diary entries on Brexit, defending refugees & writing postcapitalist fiction – THE NEWSTATESMAN

, 28/09/2020

Reading the newspapers last Monday, I was reminded that negotiations with Brussels are always an occasion for second-rate theatre. Ultimatums are usually issued by EU negotiators facing UK governments that talk enthusiastically of red lines and sovereignty. But now, if the Telegraph is to be believed, it is Boris Johnson who has given the EU […]

ANOTHER NOW: My political science fiction novel depicting a fully-fledged socialism we could have had – THE GUARDIAN

, 05/09/2020

When Margaret Thatcher coined “Tina” – her 1980s dictum that “There is no alternative” – I was incensed because, deep down, I felt she had a point: the left had neither a credible nor a desirable alternative to capitalism. Leftists excel at pinpointing what is wrong with really-existing capitalism. We are good at demonstrating that […]

The EU coronavirus Recovery Fund will take Europe another step towards disintegration – The Guardian

, 25/07/2020

During the early years of the eurozone crisis, I remember gauging its depths by the rapidly diminishing half-life of the celebrations that followed every European Union summit. Premature proclamations that the crisis was over inspired hope, which caused the money markets to rebound. But then, at some point, gloom would unfailingly return. As the years of […]

While EU leaders squabble, the Elephant in the Room remains unnoticed

, 18/07/2020

While the media are reporting the news of the deadlocked EU Summit negotiations over the so-called ‘Recovery Fund’, an eerie silence prevails regarding the Elephant in the Room: The huge wave of austerity the Eurozone is sleepwalking towards. Let’s look at the facts. Even if the Dutch Prime Minister, Mr Rutte, and the rest of […]

The Eurozone’s grappling with crisis, class war & the North-South divide – Berliner Verlag interview

, 16/07/2020

What did you think when the Euro-group elected its new leader last week? At least this was not the outcome Frau Merkel had wished? My first thought was that it spelled the end of any possibility of harmonizing corporate tax rates across the Eurozone, an issue that I am on Mrs Merkel’s side. The second […]

The COVID Class War – THE IRISH EXAMINER & Project Syndicate

, 02/07/2020

“Strengthening the solidarity of Europe’s oligarchs is not a good strategy for empowering Europe’s majority. Quite the contrary. Any “recovery” based on such a formula will short-change almost all Europeans and push the majority into deeper despair.” ATHENS – The euro crisis that erupted a decade ago has long been portrayed as a clash between […]

Europe’s Recovery Fund: An instrument of class war against weaker Europeans everywhere

, 29/06/2020

Europe never was the battlefield on which the frugal North clashed with the profligate South. Instead, every European country has been the battlefield where a vicious class war is fought by a transnational oligarchy-without-frontiers training its armour against the weaker residents of every country, every region, every community. Covid-19, and the European Union’s response to […]

The Past, Present & Post-Pandemic Future of DEBT – El Pais

, 10/06/2020

Before capitalism, debt appeared at the very end of the economic cycle; a mere reflection of the power to accumulate already produced surpluses. Under feudalism, production came first with the peasants working the land to plant and harvest crops. Distribution followed the harvest, as the sheriff collected the lord’s share. Part of this share was […]

Bernie Sanders, Ilhan Omar, Yanis Varoufakis & Richard Durbin and 300 other lawmakers call for a cancellation of developing world’s’ debt – Washington Post

, 13/05/2020

Sen. Bernie Sanders (I-Vt.) and Rep. Ilhan Omar (D-Minn.) in a Wednesday letter addressed to Georgieva and David Malpass, president of the World Bank, called on international financial organizations to consider “extensive debt forgiveness” for more than 70 of the world’s poorest countries. The letter, which also called for significant fiscal stimulus to help stabilize […]

Covid-19 has “turbocharged” the EU’s failures – Interviewed by the NEW STATESMAN’s George Eaton

, 12/05/2020

For Yanis Varoufakis, lockdown has not been a time of contemplation. “I have more work now than I ever did. As you know, everything has shifted to Zoom meetings, which means zero separation between the private and the public,” he explained when we spoke recently, during one such video call. The 59-year-old economist, former Greek […]

In conversation with David McWilliams on the future after Covid-19 – The Guardian

, 08/05/2020

David McWilliams and I have had many conversations, often in front of large audiences in Ireland, on the economics and politics of Europe, Brexit, Ireland, Greece, the world. In this latest conversation we are discussing the impact of Covid-19 on capitalism. The extract below, published by The Guardian, comes from the last chapter of an […]

On the toxic impact of the Eurogroup agreement of 9th April 2020 – With CNN’s Richard Quest (AUDIO)

, 13/04/2020

Discussing the toxic impact of the Eurogroup agreement of 9th April 2020 on Italy and Europe at large. Interviewed by Richard Quest on CNN’s Quest’s World

The EU’s new coronavirus relief deal is a gift to Europe’s enemies – THE GUARDIAN

, 13/04/2020

Europe suffered a historic defeat on Thursday night. After weeks of impasse, the Eurogroup gathering of finance ministers, whose countries share the euro, reached a decision on their collective response to the coronavirus pandemic’s economic impact. Besides constituting an epic dereliction of duty, the Eurogroup’s decision dealt a decisive blow to the foundations of the European […]

“The European Union Is Determined to Continue Making the Same Errors It Made After 2008” – JACOBIN interview

, 12/04/2020

The lack of EU help for the states hardest hit by COVID-19 is the latest sign of the hollowness of “European solidarity.” As Yanis Varoufakis tells Jacobin, the European Union’s institutions are hardwired to ignore the needs of the social majority — preferring to allow mass suffering than to change their own rules. Yanis Varoufakis is used […]

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