Greece's Hayekian neoliberals and their curious bargain

Following the Crash of 1929, an epic debate began between liberals who believed in capitalism’s automatic stabilisers and John Maynard Keynes who did not. Today, in Bailoutistan (Greece and the other fallen eurozone countries), this debate has taken an interesting, sad, twist.

Greek default does not equal Greek exit

Perhaps the greatest enemy of the Eurozone, at this particular juncture, is an erroneous assumption: that a Greek default is inextricably linked to a Greek exit from the Eurozone. The problem with this assumption is twofold: First, it prevents Europe from escaping a trap of its own making. Secondly, it is false. By Yanis Varoufakis.

Cauterise and print: Germany's new Plan A

After Nicolas Sarkozy wins the French Presidential election Germany will ‘suddenly’ realise that the impossible conditions the Greekgovernment pretended to accept have not been met. And then the amputations will start. By Yanis Varoufakis.

Greece's PSI: dead on arrival

Greece's Private Sector Initiative (PSI) gave the shadow banking sector a great new opportunity to profiteer at the expense of Greece and of Europe and escalated the latter’s crisis rather than helping tame it. By Yanis Varoufakis.

A brief history of Greece’s Private Sector Initiative (PSI)

Europe’s ants and Europe's grasshoppers

A new take on Aesop’s tale, tailor-made for our ‘European Moment in History’, at a time when Europe’s collapse is being guaranteed by the dominance of the wrong narrative. What follows is an attempt at an alternative take: one that is more in tune with a decent future for Europe. By Yanis Varoufakis.

Once upon a time a Greek called Aesop told the story of the industrious ant and the profligate grasshopper.