During 2015’s first half, as Greece’s finance minister, I participated in thirteen crucial Eurogroup meetings – before the SYRIZA government (disrespecting the referendum result of 5th July) capitulated. The result of that capitulation was my immediate resignation and a permanent austerity program (until… 2060). From the beginning, the first Eurogroup, it was clear that the […]
Greece
How Syriza’s capitulations allowed the Greek right to escape the dustbin of history – The New Statesman
The left-wing party’s embrace of austerity created the conditions for a parasitic and cruel oligarchy to return The Greek right is back: greedier, uglier and more focused than ever. The incoming New Democracy government is determined to reclaim full control of the state on behalf of the most parasitic segment of Greece’s oligarchy and, of course, of […]
MeRA25: Greek progressives’ chance to take the fight against austerity back into Parliament – JACOBIN
Amid the bad results for the Left in the European elections, the Greek outcome was particularly poignant. In the last such contest in 2014, Syriza rode the revolt against austerity to become the largest single party, in its final step toward national office. Five years later, in last month’s election, it finished ten points behind the […]
A Greek Canary in a Global Goldmine – Project Syndicate op-ed 17 May 2019
ATHENS – The eurozone country that has become synonymous with insolvency is today proving to be a treasure-trove for some. Traders who bought Greek assets a few years ago have good reason to celebrate, having banked returns that no other market could have provided. But, as is often the case, an opportunity that seems too […]
EU Court defends the ECB’s right to cover up its illegal closure of Greece’s banks
The European Union Court today delivered its verdict: European citizens cannot be allowed to find out whether the ECB acted legally in closing down Greece’s banks in June 2015. Why? In the wording of the three judges, because such disclosure would affect the ECB’s “space to think in 2015 and also after 2015”. If this sounds […]
Mrs Merkel’s Athens visit, her fall from grace and Greece’s demand for war reparations – on BBC Radio 4
Over the past two days, Mrs Merkel was in Athens on a victory lap to celebrate her successful subjugation of the Syriza government and the subsequent extension of the Greeks’ debt bondage. Nevertheless, even this subservient Greek government managed to upset her victory lap by mentioning the… war and the reparations the Greeks will continue to demand for the […]
Behind the closed doors of negotiations with the EU? – The Guardian podcast, November 2018
As the Brexit negotiations near crunch point, Theresa May is still battling to keep her party on side as she edges closer to a deal with Brussels. But is it possible to take on the EU in negotiations and win? One man who staked his political career on trying just that was the former Greek finance minister Yanis […]
On Europe’s austerity drive and DiEM25 – an OECD podcast
One country that symbolised the crisis of the last 10 years was Greece. Its insolvency embarked the country on a long regime of bail-outs and austerity. This August, Greece officially emerged from the crisis, with the OECD forecasting GDP growth again. So, did the austerity work? The former Greek finance minister and co-founder of the […]
Greece was never bailed out; it remains a debtor’s prison and the EU won’t let go of the keys – op-ed in The Observer
Over the past week, the world’s media have been proclaiming the successful completion of the Greek financial rescue programmemounted in 2010 by the European Union and the International Monetary Fund. Headlines celebrated the end of Greece’s bailout, even the termination of austerity. Buoyant reports from ground zero of the eurozone crisis portrayed Europe’s eight-year long Greek […]
Greed, ineptitude and austerity fanned the flames of the Greek wildfire – The Sunday Times
ATHENS: A biblical calamity befell the Attica region last Monday. I saw its first sign in the late morning at Athens airport, where I was seeing off my daughter to Australia. A strong whiff of burning wood caused me to look up to the sky, where a whitish-yellow sun beckoned, surrounded by the tell-tale eclipse-like […]
Behind Greece’s forest fires: a tragic reminder of our collective responsibility as Europeans
ATHENS – A biblical calamity befell Attica last Monday. I saw its first sign in the late morning at Athens airport, where I was seeing off my daughter to Australia. A strong whiff of burning wood caused me to look up to the sky, where a whitish-yellow sun beckoned, surrounded by the telltale eclipse-like daytime […]
An anniversary to savour: the three days that shook Europe – 3rd to 6th July 2015 (Extracts from my ADULTS IN THE ROOM)
Three years ago, today, the people of Greece staged a rebellion against their debt bondage. Though this rebellion was overthrown from within almost immediately, it remains a remarkable testimony to the power of a people to say No to the oligarchy, to wrestle control of the narrative of their circumstances from the inanely authoritarian elites, […]
Profiles in Euro-Denial: The thwarted euro reforms & Greece’s permanent debt bondage – Project Syndicate op-ed
ATHENS – Europe’s establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece’s debt crisis, and a Franco-German accord to redesign the eurozone. Unfortunately, both reports offer fresh proof of the European Union establishment’s remarkable talent for never missing an opportunity to […]
Complete text of my interview with Corriere Della Sera’s Aldo Cazzullo (in English)
Corriere Della Sera, the Italian daily, published today an interview that I gave to Aldo Cazzullo. For the published version (in Italian of course), you can visit the paper’s site here. However, the published text is a heavily reduced version of the exchange between Mr Cazzullo and myself. For those interested in the full exchange, see […]