Year: 2012
In lieu of a Happy New Year, courtesy of Camus
, 31/12/2012
“In the depths of winter, I finally learned that within me there lay an invincible summer.”—Albert Camus Photo by Danae Stratou
Video: Debt Crises and the World Economy, Seattle Town Hall
, 28/12/2012
On 20th November, a wonderful crowd came to Seattle Town Hall to hear me talk about Debt Crises and the World Economy, effectively a presentation of the main thesis of The Global Minotaur, suitably updated for 2012 and beyond. It was a rare occasion made possible by a crowd with which I felt a special bond […]
Ten highs and ten lows, circa 2012: my intensely biased list
, 26/12/2012
THE HIGHS The definitive discovery of the Higgs boson particle that confirms our capacity to grasp the ways of the universe first through logic and theory and later empirically; a triumph of human reason Mitt Romney’s implosion at the ballot box At last, a decent James Bond flick A piece of graffiti in downtown Athens […]
Will the real economy rebound, following Wall Street's resuscitation? And what of Europe? – Interviewed by El Confidencial
, 20/12/2012
Another Spanish newspaper, El Confidencial, were kind enough to interview me on the global and european crisis, on the occasion of the Global Minotaur‘s Spanish translation-edition. Here is the interview, in English (the actual article will appear in Spanish, of course). Read on…
Taking stock of the Global and Euro Crisis
, 16/12/2012
A Spanish journalist interviewed me on the Spanish language edition of The Global Minotaur. Her questions, however, gave me an opportunity to look retrospectively at the Global Crisis, its Eurozone offshoot and, of course, the worst aspect of the latter, the Greek calamity. In the process, I refer to what I call the ‘death of […]
Will 2013 usher in the end of the Eurozone Crisis?
, 15/12/2012
The question above was put to me by a Brazilian journalist. I would have loved to answer in the affirmative. Only it would be misleading and dishonest to do so. Here is the answer I sent him: The reason the Eurozone is in crisis is that Europe’s leaders are in denial about its nature. As […]
Greek tv interview on the Crisis in Retrospect (only available in Greek)
, 13/12/2012
Skai TV Ευθέως show; a Greek variant of Hard Talk
Greek Debt Buyback – another sad verdict, surrounded by much merriment
, 12/12/2012
Greek authorities have announced that the Dutch auction has produced offers of 31.9 billion worth of (post-PSI) Greek government bonds at an averaged price of 33.8% of face value. The same sources reveal that the Greek banks were strong-armed into offering all their holdings (against their better judgment), a total of around 17 billion. Which […]
"We all live under the dark cloud of the same crisis" James Galbraith at Germany’s IG Metall Trades Union Congress, 7th December 2012
, 12/12/2012
There is only one crisis. The various ‘episodes’ of US subprime mortgages, European and American banks, Greek debt, the recession of the Eurozone today, the trials and tribulations of Ireland, etc., all these are part of the very same, deeply interconnected world crisis. Pretending otherwise is fuel that gives this global crisis another lease of life, […]
On the sad algebra of the Greek Debt Buyback
, 10/12/2012
In a previous post, I dissected the recent Eurogroup plan to save Greece (again!). Today I single out the debt buyback operation which is a crucial aspect of that plan.
On Bruno Kreisky’s legacy: A reply by Klaus Kastner, with a rejoinder from me
, 08/12/2012
In yesterday’s post, I asked the question: Why has European social democracy abandoned the legacy of leaders like Kreisky, falling in line with a toxic economics and politics that thinkers like Kreisky would have dismissed in their sleep as pathetic claptrap? My allusion to, and explicit endorsement of, Bruno Kreisky (the late Austrian social democratic […]
At the Kreisky Forum: Why have Europe's social democrats surrendered to the toxic logic of current policies?
, 07/12/2012
On 5th December, I had the great pleasure of addressing a splendid audience at the Kreisky Forum, in Vienna. My theme was, surprise surprise, the European Crisis in its Global Context. Nevertheless, in view of the very special venue (dedicated to the late Chancellor Bruno Kreisky, and delivered in his former home), I was compelled to […]
Debt, Europe, Greece and the World Economy: Addressing the Kreisky Forum, Vienna, Wednesday 5th December 2012
, 02/12/2012
Anyone in Vienna this coming Wednesday (5/12/2012)? If so, perhaps you may pop in at the Kreisky Forum to hear me address: THE GREEK CRISIS AND THE EUROPEAN TRAGEDY THE DEBT CRISIS AND THE FUTURE OF THE WORLD ECONOMY For the official announcement…
The Eurozone after the November Eurogroup ‘Greek Deal’: On the current state of play
, 01/12/2012
On November 27th, 2012, the Eurogroup (comprising the Eurozone’s finance ministers) reached a decision on Greece. Its essence is a guarantee that Greece will remain in the Eurozone (and therefore off the Northern European agenda) for another ten to twelve months; at the very least until the German federal political cycle has seen through the […]
Eurozone slips into recession again: Debating the causes on China International Radio
, 30/11/2012
Click below for a China International Radio debate on the Eurozone Crisis, the extent to which austerity has caused the latest slip of the currency union area into recession and what can be done about it. Panel Discussion involving: -Cui Hongjian, Research Fellow with the China Institute of International Studies. -Yanis Varoufakis, Professor of Economic […]
China after the Global Minotaur
, 27/11/2012
This post follows up from earlier ones entitled Europe after the Global Minotaur and America after the Global Minotaur. These posts are extracts from the forthcoming new edition of The Global Minotaur.
Europe after the Global Minotaur
, 21/11/2012
This post follows up from an earlier one entitled America after the Global Minotaur. Both posts are extracts from the forthcoming new edition of The Global Minotaur. Bankruptocracy, as I have argued in Chapter 8 of my Global Minotaur, is as much of a European predicament as it is an American ‘invention’. The difference between […]
Debt Crises and the Future of the World Economy: Public Lecture at Seattle's Town Hall, 20th November 2012, 19.30
, 19/11/2012
When: Tuesday, November 20, 2012, 7:30 – 9:00pm Where: Downstairs at Town Hall; enter on Seneca Street. $5 Click here for Seattle Town Hall’s webpage Financialization, ineffectual bank regulation, greed, and globalization were not the root causes of the global economic crisis, says economist Yanis Varoufakis; rather, they are symptoms of a much deeper malaise that can […]
The Global Minotaur in Spanish; plus a review in El Pais
, 18/11/2012
It is with great pleasure that I received the news that the Spanish translation of The Global Minotaur is out. The published text is that of the second edition, which will not be appearing in English, until February of 2013. Many thanks to my Spanish publisher, Capitán Swing (click here for their webpage). For an immediate […]
Political paralysis and the Eurozone crisis: USI Web Conference
, 16/11/2012
USI (Union Solidarity International) paid me the complement, on the occasion of the Pan-European Trades Union Action against Austerity, of organising a Web Conference to discuss my take on the Eurozone Crisis. To visit their relevant webpage, click here. In the following video, I had a chance to offer an update on where we stand, […]
America after the Global Minotaur
, 15/11/2012
In an earlier post, I explained that the global economy is in dire straits because the United States is no longer able to recycle the Rest of the World’s surpluses. Today I turn the spotlight on the US economy per se, in the aftermath of the Global Minotaur’s demise. (For readers not familiar with this […]
On BBC Radio 4's 'Today', discussing Greece's latest descent into the abyss
, 13/11/2012
Click here for the audio: BBC Radio 4, TODAY, 13th Nov 2012
Greece Debt Crisis Continues to Unravel, Offers Strong Lessons for the US: Radio interview
, 13/11/2012
Click here for an interview with Los Angeles area radio station uprisingradio.org in which we discuss the Greek debt crisis and the lessons to be drawn from it for the United States.
Dial Greece for Swindle: How disunity within the troika is straining their denial of Greece’s bankruptcy
, 13/11/2012
You may have heard that Greece is facing official bankruptcy as a result of Europe’s failure to deliver the funds that would allow the Greek government to carry on pretending that it is not insolvent – by redeeming a bond which is about to mature while in the possession of the European Central Bank. The truth […]