Crises sever old bonds. But they also forge splendid new friendships.
Over the past months one such friendship has struck me as a marvellous reflection of the new possibilities that Europe’s crisis has spawned.
When I was living in Britain, between 1978 and 1988, Lord (then Norman) Lamont represented everything that I opposed. Even though I appreciated Margaret Thatcher’s candour, her regime stood for everything I resisted. Indeed, there was hardly a demonstration against her government that I failed to join; the pinnacle being the 1984 miners’ strike that engulfed me on a daily basis, in all its bitterness and glory. Continue reading
The bizarre attempt to have me indicted me on… treason charges, allegedly for conspiring to push Greece out of the Eurozone, reflects something much broader. Continue reading
Statement by the Office of Yanis Varoufakis, former Minister of Finance, Member of Parliament, Hellenic Republic
During the Greek government’s negotiations with the Eurogroup, Minister Varoufakis oversaw a Working Group with a remit to prepare contingency plans against the creditors’ efforts to undermine the Greek government and in view of forces at work within the Eurozone to have Greece expelled from the euro. The Working Group was convened by the Minister, at the behest of the Prime Minister, and was coordinated by Professor James K. Galbraith. (Click here for a statement on the matter by Professor Galbraith). Continue reading
(scroll down for the Greek language version)
I spent five months from early February through early July in close association with the Greek Finance Minister, Yanis Varoufakis, and was part of the Working Group that did contingency planning for potential attempts to asphyxiate the Greek government, including aggressive moves to force the country out of the euro. Since a great deal of public confusion has now arisen over this effort, the following should be stated: Continue reading
Richard Koo sent me recently his latest, Nomura, assessment on Greece and our negotiations with the EU and the IMF. As always, Richard’s views make for fascinating reading. Here is the pdf copy that he has made available to us.
Stefano Fassina, MP and former Deputy Finance Minister of Italy, kindly sent me the following opinion piece. While convinced that the “controlled disintegration of the eurozone” that he advocates is pregnant with great dangers, this is a debate that Europeans cannot eschew.
Yanis Varoufakis erklärt in einem neuen Buch seinem Kind, warum die Griechen nichts für ihre Situation können.
Interviewed by Mariano Alonso and Luis Martin of the TRUMAN FACTOR.
Rome, July 24, 2015
To Yanis Varoufakis and Dominique Strauss-Khan Continue reading
Why I voted NO
“In counting our billions instead of using them to build, in refusing to accept an albeit obvious loss by constantly postponing any commitment on reducing the debt, in preferring to humiliate a people because they are unable to reform, and putting resentments – however justified – before projects for the future, we are turning our backs on what Europe should be, we are turning our backs on Habermas’ citizen solidarity. We are expending all our energies on infighting and running the risk of triggering a break-up. This is where we are. A eurozone, in which you, my German friends, would lay down your law with a few Baltic and Nordic states in tow, is unacceptable for all the the rest.” For the complete text, click here
In the next hours and days, I shall be sitting in Parliament to assess the legislation that is part of the recent Euro Summit agreement on Greece. I am also looking forward to hearing in person from my comrades, Alexis Tsipras and Euclid Tsakalotos, who have been through so much over the past few days. Till then, I shall reserve judgment regarding the legislation before us. Meanwhile, here are some first, impressionistic thoughts stirred up by the Euro Summit’s Statement. Continue reading
Late Night Live, ABC Radio National, 13th July 2015
Pre-publication summary: Five months of intense negotiations between Greece and the Eurogroup never had a chance of success. Condemned to lead to impasse, their purpose was to pave the ground for what Dr Schäuble had decided was ‘optimal’ well before our government was even elected: That Greece should be eased out of the Eurozone in order to discipline member-states resisting his very specific plan for re-structuring the Eurozone.
- This is no theory.
- How do I know Grexit is an important part of Dr Schäuble’s plan for Europe?
- Because he told me so!
I wrote this article not as a Greek politician critical of the German press’ denigration of our sensible proposals, of Berlin’s refusal seriously to consider our moderate debt re-profiling plan, of the European Central Bank’s highly political decision to asphyxiate our government, of the Eurogroup’s decision to give the ECB the green light to shut down our banks.
I wrote this article as a European observing the unfolding of a particular Plan for Europe – Dr Schäuble’s Plan.
And I am asking a simple question of Die Zeit’s informed readers:
- Is this a Plan that you approve of?
- Do you consider this Plan good for Europe?
Tomorrow’s EU Summit will seal Greece’s fate in the Eurozone. As these lines are being written, Euclid Tsakalotos, my great friend, comrade and successor as Greece’s Finance Ministry is heading for a Eurogroup meeting that will determine whether a last ditch agreement between Greece and our creditors is reached and whether this agreement contains the degree of debt relief that could render the Greek economy viable within the Euro Area. Euclid is taking with him a moderate, well-thought out debt restructuring plan that is undoubtedly in the interests both of Greece and its creditors. (Details of it I intend to publish here on Monday, once the dust has settled.) If these modest debt restructuring proposals are turned down, as the German finance minister has foreshadowed, Sunday’s EU Summit will be deciding between kicking Greece out of the Eurozone now or keeping it in for a little while longer, in a state of deepening destitution, until it leaves some time in the future. The question is: Why is the German finance Minister, Dr Wolfgang Schäuble, resisting a sensible, mild, mutually beneficial debt restructure? The following op-ed just published in today’s The Guardian offers my answer. [Please note that the Guardian’s title was not of my choosing. Mine read, as above: Behind Germany’s refusal to grant Greece debt relief ). Click here for the op-ed or… Continue reading