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ONLY EUROPE’S RADICALS CAN SAVE THE EU – Newsweek op-ed on the Spanish election outcome

Summary:
Podemos suffered in the Spanish elections because it lacked a defining European agenda. BY YANIS VAROUFAKIS ON 7/8/16 AT 4:19 PM – click here for the Newsweek site or… Spaniards went to the polls three days after the shock of Brexit to produce a result that, ostensibly, delivers victory to the status quo. However, the status quo is tired, fragmenting, and prone to vicious unraveling unless the EU’s deconstruction is impeded. But, the Spanish establishment, which is determined to maintain the status quo, lacks both the analytical power and the political will to impede the EU’s disintegration. And so an electoral result in favor of continuity becomes the harbinger of deep uncertainty. Spain and the U.K. differ in one crucial sense. While EU policies and institutions have damaged the Spanish economy a great deal more than Britain’s, Spain’s political system remains largely free of euroskepticism. The paradox dissolves quickly when one considers the traditional lack of legitimacy of the Spanish elites in their own country.Reeling under the British voters’ radical verdict, “official” Europe took solace from Spain’s general election outcome. They read into it evidence that the post-Brexit fear factor may help knock some “sense” into voters, putting them off “populist” parties.

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ONLY EUROPE’S RADICALS CAN SAVE THE EU – Newsweek op-ed on the Spanish election outcome

Podemos suffered in the Spanish elections because it lacked a defining European agenda.

Yanis Varoufakis
An accidental economist Let me begin with a confession: I am a Professor of Economics who has never really trained as an economist. But let’s take things one at a time.

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