On the panel are Conservative former chancellor Ken Clarke MP, Labour’s shadow education secretary Angela Rayner MP, runner up in the UKIP leadership election Lisa Duffy, DiEM25 initiator and former Greek finance minister Yanis Varoufakis and the previous owner of the Daily Telegraph Conrad Black.
Friday 23/9/2016 (click here for the Eurofinance site & here for a related Keynote speech)
How long can Europe go on like this? In mid-July Germany sold €4.038bn of 10-year zero-coupon bonds with a yield of minus 0.05 per cent. This added a few more billions to the more than €4.25 trillion euros-worth of euro-zone government bonds that now carry a negative yield. These yields and the ECB’s €80-billion a month quantitative easing policy have now infected non-government markets. According to Bank of America, the highest-rated euro-denominated senior and secured debt of non-bank companies maturing in one to three years yield an average minus 0.08 percent. And there’s no obvious way out: at the ECB’s July meeting the bank kept the main refinancing rate and the deposit rate at record lows of zero and minus 0.4 per cent.
Yanis Varoufakis responds to Alexis Cukier and Patrick Surain, who challenged him on his time as Greek finance minister, the feasibility of reforming existing EU structures, and a left-wing exit from the EU. Read ‘the challenge’ here.
Imagine a city or state budget where citizens could see at a glance where every euro, pound or dollar went or came from, which services were paid for by their taxes or rates, the distribution of the tax burden across different regions etc. You don’t need to imagine it. The City of Barcelona has delivered it. Click here for the OPEN BUDGET and here for STRATEGY & FINANCE. Europe’s rebel cities, adopting DiEM25’s transparency campaign, are leading the way! Continue reading →
Yanis Varoufakis has told the UK government to get a move on with triggering Article 50 to begin a “robust debate” on what a post-Brexit Britain could look like.
In an interview with the BBC’s Today programme, the former Greek finance minister, said the discussion prior to the referendum was of “very low quality”, adding that once article 50 is invoked Britain should use the negotiating period to prepare itself as nation. Continue reading →
ATHENS – Despite their unequivocal Europeanism, the Irish have been serially mistreated by the European Union.
When Irish voters rejected the Treaty of Lisbon in 2008, the EU forced them to vote again until they delivered the “right” outcome. A year later, when private Irish banks imploded, threatening their (mainly) German private creditors with severe losses, Jean-Claude Trichet, the European Central Bank’s then-president, immediately “informed” the Irish government that the ECB would shut down ATMs across the Emerald Isle unless Ireland’s unsuspecting taxpayers made the German banks whole.
An interview on the Brexit paradox-cum-enigma and the future of the European Union – the interview was recorded in the context of the Institute of Directors conference on post-Brexit Britain, 27th September 2016
Former Greek Finance Minister & Rolls Royce Chairman join King’s College
Posted on 19/05/2016
Yanis Varoufakis, Greece’s former Finance Minister and Sir Simon Robertson, former Chairman of Rolls Royce are both joining King’s as distinguished Visiting Professors within the Department of Political Economy. Starting from 1 August they will both give public lectures , departmental seminars and student facing workshops as part of their activity at King’s. Continue reading →