About yanisv

Professor of Economics at the University of Athens

Europe’s Ugly Future: A review of Varoufakis, Galbraith & Stiglitz – Foreign Affairs

Muddling Through Austerity

In This Review

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How do you solve a problem like Europe? Interviewed by Eurofinance

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.

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Impressive list of elected DiEM25 Coordinators & Advisors has been announced

Leading activists, artists, scholars and political figures take central role in DiEM25Screen Shot 2016-10-05 at 11.11.26.png

Linguist Noam Chomsky, novelist Elif Shafak, artist/musician Brian Eno, activist Zoe Gardner and fashion designer/environmental activist Vivienne Westwood are amongst those elected by DiEM25’s members to coordinate the movement’s activities. (See full announcement at DiEM25.org). Continue reading

Transparent Budgeting at its best – the City of Barcelona is showing the way

Screen Shot 2016-10-02 at 23.30.14.pngImagine 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

The Independent on my Brexit proposal: Trigger Article 50 and agree a 5yr Norway-like transition period


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

Apple, Brussels, and Ireland’s Bruised Sovereignty – Project Syndicate op-ed

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Apple Ireland.jpg

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.

To read on click here

Distinguished Visiting Professors join Kings College, Univeristy of London

Reposted from Kings College website

Former Greek Finance Minister & Rolls Royce Chairman join King’s College

Posted on 19/05/2016

YANISYanis 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