DiEM25’s internal Brexit Process Referendum is on – analysis & open call

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Democracy starts at home! So, at DiEM25 we decide on the movement’s important policy positions by means of an internal vote/referendum that follows a free and frank internal exchange. Below you will find the four options that our members are currently voting for (there will be a runoff vote if none of them secure 50% of the votes plus 1). You will also find a briefing on the state-of-play with the Brexit process (or is it shambles?).

  • Click here a pdf copy of post-Brexit analysis/briefing
  • If you want to see other points of view expressed by DiEM25 members and join the debate at the Post-Brexit DiEM25 Forum, you will need to become a member first (click here, then click ‘Participate’ and ‘Join In’) and then proceed to the Forum.
  • If you want just to take a quick look at the four options DiEM25 members are voting amongst, …

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BRUSSEL’s APPEAL FOR LESS AUSTERITY: An irrelevant proposal by an irrelevant Commission

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So, the European Commission, at last, concluded that the eurozone’s fiscal stance is too austerian. “Better late than never”, some will say. Alas, this is too optimistic a take. The reason? The Commission is irrelevant and it knows it. Decisions of fiscal policy are now taken in the eurogroup where Commissioner Moscovici has next to no gravitas. Moreover, the Commission seems to know this, putting forward a proposal that it knows will be ignored. Continue reading

New Statesman interview: The Left’s duty after Trump’s awful victory

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I had no doubt Donald Trump would win, just like I had no doubt Brexit would happen, so maybe I’m not as shell-shocked as you,” says Yanis Varoufakis. The former Greek finance minister is speaking to me several days after the Republican candidate’s historic victory. He doesn’t sound smug about being so prescient, more resigned, deflated, defeated. The left has been here before. Continue reading

Trump, our post-modern 1930s and DiEM25’s moment

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[Originally published here]

The election of Donald Trump symbolises the demise of a remarkable era. It was a time when we saw the curious spectacle of a superpower, the US, growing stronger because of – rather than despite – its burgeoning deficits. It was also remarkable because of the sudden influx of two billion workers – from China and Eastern Europe – into capitalism’s international supply chain. This combination gave global capitalism a historic boost, while at the same time suppressing Western labour’s share of income and prospects. Continue reading

Trump’s Triumph: DiEM25 on how progressives must react

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Donald Trump’s victory marks the end of an era when a self-confident Establishment preached the end of history, the end of passion and the supremacy of a technocracy working on behalf of the 1%. But the era it ushers in is not new. It is a new variant of the 1930s, featuring deflationary economics, xenophobia and divide-and-rule politics.

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How the EU’s Greek Tragedy Became a British Farce – by James K. Galbraith

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[Originally published in Zocalo]

British citizens took to the polls to cast their “Leave” ballots—and their grievances—in the now-infamous Brexit vote last June, seeking to escape the overarching power of the European Union. Their triumph stunned British and global elites, but shouldn’t have; the odds were stacked in the Leave camp’s favor.

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

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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