Tag Archives: English

Yanis Varoufakis: Risk has not been diminished, just taken out of sight Ten years after its near-death experience, capitalism is back to its old ways. Bailouts for the few and austerity for the many have caused global debt to rise 40% since 2007. Yes, British and European banks have contracted (as US authorities required Barclays, Deutsche Bank etc to shrink their dollar business) and tougher national rules...

[embedded content] YANIS VAROUFAKIS: Our new international movement will fight rising nationalism, its underlying fascist moment, and the pseudo-liberal establishment whose policies gave rise to it (Click here for The Guardian) Our era will be remembered for the triumphant march of a globally unifying rightwing – a Nationalist International – that sprang out of the cesspool of financialised capitalism....

Before 2008 we could all see that global trade imbalances were growing inexorably, creating a glut of savings in surplus countries that flowed into deficit countries, causing house price, stock exchange and debt bubbles whose bursting would never end well. What few could see, however, was that, behind the dominant narrative of unfettered competition and equilibrating market forces, a different reality was taking...

The European Parliament elections will be a major battleground that the neofascist forces of the emergent Nationalist International (Salvini, Kurz, Orban, AfD, CSU, parts of the CDU, and of course figures like Donald Trump and Steve Bannon) will contest enthusiastically. DiEM25 and our EUROPEAN SPRING are determined to confront them on the basis of a radical europeanist agenda, building a Progressive...

In the autumn of 2008 events unfolded in Wall Street that the crushing majority of people around the world had been led to believe could never occur. It was the financial equivalent of watching the sun spinning out of control soon after it rose above the horizon. Humanity watched on in collective disbelief. The ancient Greeks had a term for moments like that one: aporia – a state of intense bafflement urgently...

Mythos Der Kapitalismus ist entzaubert und bringt uns das größte Faschismusproblem seit den Dreißigern Was im Herbst 2008 an der Wall Street geschah, hatten die allermeisten Menschen bis dahin für unmöglich gehalten, schließlich hatte man ihnen jahrelang weisgemacht, dass etwas Derartiges schlichtweg nicht passieren könnte. Es war, als ob man dabei zuguckt, wie die Sonne, kurz nachdem sie am Horizont aufgeht,...

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[embedded content] [embedded content] PART 1 – WHY SOCIALISM? Interviewer: You are meeting with Jeremy Corbyn to discuss socialism. Why? Varoufakis: Because democracy needs a healthy democratic socialist movement to be part of the political process in order to be healthy [embedded content] PART 2 – REASONS TO BE CHEERFUL [embedded content] PART 3 – DEMOCRATS MUST GET TOGETHER ACROSS PARTY...

No policy is as self-defeating during recessionary times as the pursuit of a budget surplus for the purpose of containing public debt – austerity, for short. So, as the world approaches the tenth anniversary of the collapse of Lehman Brothers, it is appropriate to ask why austerity proved so popular with Western political elites following the financial sector’s implosion in 2008. The economic case against...

Over the past week, the world’s media have been proclaiming the successful completion of the Greek financial rescue programmemounted in 2010 by the European Union and the International Monetary Fund. Headlines celebrated the end of Greece’s bailout, even the termination of austerity. Buoyant reports from ground zero of the eurozone crisis portrayed Europe’s eight-year long Greek intervention as a paradigm of...