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Austerity and degrowth – dealing with the economic crisis and the ecological crisis together
Austerity and degrowth – dealing with the economic crisis and the ecological crisis together This article arises from increasing frustration and irritation about the way that the debate about Greece, and in general about austerity, is framed. My frustration is not only with the policy thugs who are implementing austerity, but also, to a degree, […]
When the next crisis comes, which movements will seize the opportunity?
When the next crisis comes, which movements will seize the opportunity? You, too, could be caught in a situation where people are ready for an alternative, yet your group has none to offer. It’s understandable. We who work for change seem years away from convincing a critical mass of people that it is both stupid […]
Beware of American econ professors!
Beware of American econ professors! How Krugman, Sachs and Stiglitz led the Greeks astray. ATHENS — Since Alexis Tsipras made the difficult but responsible choice of arriving at a compromise with Greece’s creditors in mid-July, preventing an outcome that would have led his country out of the euro, a number of revelations have highlighted the […]
The Greek Coup: Liquidity as a Weapon of Coercion
The Greek Coup: Liquidity as a Weapon of Coercion “My father made him an offer he couldn’t refuse. Luca Brasi held a gun to his head and my father assured him that either his brains, or his signature, would be on the contract.” […]
Banker Occupied Greece: Requiem for a Failed State
Banker Occupied Greece: Requiem for a Failed State It’s all over but the obituary. Rubber-stamp Greek parliamentarians overwhelming approved transforming the nation into a banker run colony – by a 229 – 64 vote. Six lawmakers abstained. Coalition partner Independent Greeks leader Panos Kammenos and likeminded party members voted “yes” after rhetorically rejecting Troika terms. […]
The Troika And The Five Families
The Troika And The Five Families Personally, like most of you, I always thought Germany, besides all its other talents, good or bad, was a nation of solid calculus and accounting. Gründlichkeit. And that they knew a thing or two about psychology. But I stand corrected. The Germans just made their biggest mistake in a […]
Everything You Need to Know About the Greek Crisis and ECB Fascism in Two Paragraphs
Everything You Need to Know About the Greek Crisis and ECB Fascism in Two Paragraphs Yanis Varoufakis just sat down for his first interview since resigning as Finance Minister of Greece. He talked frankly with Harry Lambert of the New Statesman. Here are the two most important paragraphs from the transcript. There is no democracy in Europe. […]
Troika Says Greek Proposal Not Enough To Meet Targets, Serves As “Basis For Negotiations”
Troika Says Greek Proposal Not Enough To Meet Targets, Serves As “Basis For Negotiations” Early on Saturday morning, the Tsipras government passed the Greek bailout proposal which it told the Greek people to reject – which they did – less than a week earlier. The grotesque farce continued until the very end when 15 Syriza lawmakers who […]
Greek Businesses Accept Lira, Lev As Grexit Looms
Greek Businesses Accept Lira, Lev As Grexit Looms With the Greek drama headed into its final act and Alexis Tsipras stuck between an obstinate Germany and a recalcitrant Left Platform, many wonder if the introduction of an alternative currency in Greece is now a foregone conclusion. Even if Athens and Brussels manage to strike a […]
Varoufakis’ Stunning Accusation: Schauble Wants A Grexit “To Put The Fear Of God” Into The French
Varoufakis’ Stunning Accusation: Schauble Wants A Grexit “To Put The Fear Of God” Into The French Earlier we reported that Yanis Varoufakis, seemingly detained by “family reasons” would be unable to join his fellow parliamentarians and personally vote in what is likely the most important vote of Syriza’s administration: the one in which he and his party […]
The Greek People Should Vote No
The Greek People Should Vote No Greece has defaulted on its 1.3 billion euro payment to the International Monetary Fund and the euro zone is still intact, but nobody has any clear idea about what will happen after next Sunday’s referendum. Prime Minister Tsipras and Finance Minister Yanis Varoufakis, a game theory expert, have […]
Varoufakis Confirms Greece Will Default To IMF Today
Varoufakis Confirms Greece Will Default To IMF Today May as well spoil the ending of what happens at midnight local time today. Nothing (as previously reported). From Reuters: GREEK FINANCE MINISTER SAYS GREECE WILL NOT PAY IMF ON TUESDAY. Visually: And: U.S. STOCK INDEX FUTURES PARE GAINS SLIGHTLY FOLLWING GREEK FINANCE MINISTER’S COMMENT THAT GREECE […]
The People Must Be Overthrown
The People Must Be Overthrown Perhaps I should apologize for writing about Greece all the time. Thing is, not only have I just arrived in Athens last night (and been duly showered in ouzo), but Greece is the proverbial early harbinger of everything that’s wrong with the world (not to worry, I know that’s a […]
What’s Next in the Greek Farce and Why
What’s Next in the Greek Farce and Why The Man They Hate with a Passion Euro area politicians and IMF bureaucrats really hate Yanis Varoufakis’ guts with a passion. The media are full with denunciations of the man as “unprofessional”, negotiators of the euro-group let it be known (anonymously, natch) that “it got to the point where […]
Austerity, Economics and Religion
Austerity, Economics and Religion There are many things going on in the Greece vs Institutions+Germany negotiations, and many more on the fringe of the talks, with opinions being vented left and right, not least of all in the media, often driven more by a particular agenda than by facts or know-how. What most fail to […]
