The establishment of this blog coincided with our  campaign for a rational resolution of the euro crisis. By we, I mean Stuart Holland and myself. Such a resolution, we felt, was always feasible within the current insititional framework but requires clear vision and political will to implement. Moreover, it can be agreed to by people of different political persuasions since it is founded upon a minimalist, common sense, set of assumptions and policy recommendations. 

Yanis Varoufakis and Stuart Holland published the Modest Proposal  in November 2010. Since then, it has undergone a number of revisions, in response to the crisis’ evolution. In July 2013 Version 4.0 was published, this time jointly with James K. Galbraith.

A Modest Proposal for Resolving the Eurozone Crisis – Version 4.0 

by Y. Varoufakis, S. Holland and J.K. Galbraith (July 2013)

TABLE OF CONTENTS  (to read only segments click on a heading below)

  1. Prologue
  2. The nature of the Euro Crisis
  3. Political constrains for any solution
  4. The Modest Proposal – 4 crises, 4 policies
  5. Conclusion: Four realistic policies to replace five false choices
  • For a French translation, with a Preface from former Prime Minister Michel Rocard, click here (and here for an article on it published in Le Monde)
  • For a Spanish translation, click here (courtesy of www.sinpermiso.info/).
  • For a Greek, much enhanced and revised, version, click here. See also this.

Click here for many interviews/articles/posts in favour (and critical) of the Modest Proposal

Earlier versions of The Modest Proposal follow:

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