Top Menu

Author Archive | Yanis Varoufakis

From Places Like Mine and Yours

On the progressive potential of small, quasi-autonomous states (like Scotland, Ireland, Greece, Portugal, etc.). . . . The strong Scottish accent was conspiring with the noisy pub background to make it difficult for me to understand the words spoken in my ear by an imposing trade union figure.  Thankfully, I managed to decipher his words, […]

Continue Reading

It’s the (German) Banks, Stupid!

Or what’s behind Germany’s hesitant statements on Greek debt restructuring, Ireland’s move against subordinated bondholders, and the ECB’s stance on interest rates. . . . Europe is at it again, trying to pretend that it has stemmed the tide of insolvency through its program of lending huge amounts of money (at high interest rates) to […]

Continue Reading

Vital Space

Dear Friends, On this New Year’s Day we are launching Vital Space — an NGO and website that intends to cast an artistic eye on the great issues of our troubled age. Instead of another empty New Year’s resolution, we decided to take the initiative of creating a platform from which we can all (you, […]

Continue Reading

A Modest Proposal for Overcoming the Euro Crisis

It is now abundantly clear that each and every response by the eurozone (EZ) to the galloping sovereign debt crisis has been consistently underwhelming.  This includes the joint EZ-IMF operation, back in May, to “rescue” Greece and, in short order, the quite remarkable overnight formation of a so-called “special vehicle” (officially the European Financial Stability […]

Continue Reading

The Globalising Wall

Walls have a longstanding relation both with freedom from fear and subjugation to another’s will.  After 1945, walls acquired an unprecedented determination to divide.  They spread like a bushfire from Berlin to Palestine, from the tablelands of Kashmir to the villages of Cyprus, from the Korean peninsula to the streets of Belfast.  When the Cold […]

Continue Reading

The Econobubble Revisited

In a recent article, I discussed the 2010 Economics Nobel Prize in rather unflattering terms.  However, nothing beats the decision to award the 1997 Economics Nobel to Robert Merton and Myron Scholes for developing “a pioneering formula for the valuation of stock options.”  “Their methodology,” trumpeted the Nobel committee, “has paved the way for economic […]

Continue Reading