Tag Archives: Politics and Economics

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...

Is there a Deep State in our western liberal democracies? If so, is it a conspiracy or something more ‘interesting’ than that? These are questions that the Left has been traditionally engaged with, especially when facing undercover campaigns to prevent progressives from winning power or, on occasion, to unseat or destabilise left-wing governments. However, more recently, the Alt-Right has...

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ATHENS: A biblical calamity befell the Attica region last Monday. I saw its first sign in the late morning at Athens airport, where I was seeing off my daughter to Australia. A strong whiff of burning wood caused me to look up to the sky, where a whitish-yellow sun beckoned, surrounded by the tell-tale eclipse-like daytime darkness that only thick, sky-high smoke can cause. By the early evening the news had...

This year, the good people behind the Edinburgh Festival have kindly invited me to host a series of discussions under the title KILLING DEMOCRACY? My remit was: Further to explore the question of whether the current form of financialised capitalism is devouring democracy, reflecting on my work with the Democracy in Europe Movement (DiEM25). In a series of four events my purpose will be to explore the ways in...

Joe speaks with former Greek Finance Minister Yanis Varoufakis, the man who defied Europe to save Greece – and failed. Yanis, the suave economics professor turned unexpected politician, has recently announced he will run for Prime Minister of Greece at the next national elections. He is the author of multiple books including And The Weak Suffer What They Must?, Adults in the Room,...

“The reason we formed DiEM25 was the diagnosis that old wine in new bottles will not help revive the spirits of progressives in Italy or in the rest of Europe.” Aldo Cazzullo, Corriere Della Sera (AC): Let us start from the beginning? Why did you decide to resign after OXI’s victory in the Greek referendum? Yanis Varoufakis (YV): Because that very night, when I spoke to Prime Minister Tsipras, he declared...

Even before Donald Trump drove to tears of dismay NATO’s leaders, Theresa May, the EU’s officialdom and Washington’s own ‘intelligence community’, the writing was on the wall: Trump is methodically dismantling a world order that he no longer believes to be in the interests of the United States’ ruling class. Mon 11 Jun 2018 16.23 BST Donald Trump’s early departure, and his subsequent refusal to endorse...

ATHENS – Europe’s establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece’s debt crisis, and a Franco-German accord to redesign the eurozone. Unfortunately, both reports offer fresh proof of the European Union establishment’s remarkable talent for never missing an opportunity to miss an opportunity. The two announcements...