Greek Crisis
MANIFESTO of MeRA25 – the new party set up by DiEM25 in Greece to revive the spirit of the Greek Spring
The state of permanent debt bondage, which threatens Greece with desertification, is in the mind of every Greek. Imposing emigration on our young, and indignity to those who stay behind, it hangs over the country like a thick, dark cloud. Unable to discern any light in the long night of our Great Depression, the Greeks’ […]
Hans Werner Sinn: Varoufakis acted very prudently and wisely to defend Greek interests
Perhaps the best known and respected conservative German economist, Hans-Werner Sinn (Munich University and for many years Chair of Ifo Institute), had this to say in reaction to the claims of various troika officials that I cost Greece billions of euros: “Yanis Varoufakis has acted very prudently and wisely to defend Greek interests… Arguing, […]
“Greece was strangled by the creditors in 2015. We stand with Yanis Varoufakis and with the truth.” Professors Jeff Sachs (Columbia) and James K. Galbraith (Texas)
Thomas Wieser’s claim that Yanis Varoufakis and the Greek government of 2015 cost their economy 200 billion euros is ludicrous. As Wieser knows – because he was one of the architects of the policy – the Greek economy in 2015 was strangled by its creditors. The creditors inflicted severe damage from the first day: by […]
How Europe’s Band-Aid Ensures Greece’s Debt Bondage – Project Syndicate op-ed, 26 FEB 2018
ATHENS – Greece’s never-ending public-debt saga has come to signify the European Union’s inept handling of its inevitable eurozone crisis. Eight years after its bankruptcy, the Greek state’s persistent insolvency remains an embarrassment for Europe’s officialdom. That seems to be why, after having declared the euro crisis over in the rest of Europe, the authorities […]
‘Adults in the Room’ and ‘And the Weak Suffer What They Must?’ reviewed by B. Baumer for the INDYPENDENT
Along with French economist Thomas Piketty, former Greek finance minister Yanis Varoufakis is making economics sexy again. Journalists enjoyed snapping photos of Varoufakis, clad in a black leather coat, commuting to the finance ministry’s offices on his Yamaha motorcycle. But his short tenure in the Greek government was marked by clashes with the country’s […]
Discussing ‘Adults in the Room’ on ‘This is Hell!’ – Radio/Audio
The disintegration has already begun: Austerity politics at the end of Europe. Episode 978: Debtor’s Prism After 2008, all you ended up with is functionaries of the deep establishment, minding their own interests, propagating their own careers, looking after their mates in the financial sector, and practicing the fine art of the revolving door – with […]
Schäuble leaves but Schäuble-ism lives on
Wolfgang Schäuble may heave left the finance ministry but his policy for turning the eurozone into an iron cage of austerity, that is the very antithesis of a democratic federation, lives on. What is remarkable about Dr Schäuble’s tenure was how he invested heavily in maintaining the fragility of the monetary union, rather than eradicating it in order […]
Insolvent Greece goes to market 2.0
Why do I refuse to be impressed by the news of Greece’s return to the markets? “It is because the Greek state and the Greek banks remain deeply insolvent. And, their return to the money markets is a harbinger of the next terrible phase of Greece’s crisis, rather than a cause for celebration”. The above was […]
Mr Tsipras’ insightful incoherence – my reply in The Guardian, 24th July 20176
In a Guardian interview (24 July), the Greek prime minister, Alexis Tsipras, having admitted to “big mistakes”, was asked if appointing me as his first finance minister was one of them. According to the interviewer, Mr Tsipras said “Varoufakis … was the right choice for an initial strategy of ‘collision politics’, but he dismisses the […]