Yanis Varoufakis on austerity

Not only is he an economist, he’s now master of his own domain! Yanis Varoufakis on austerity: Cutting our noses to spite our faces.

2 Comments on “Yanis Varoufakis on austerity

  1. I really like Varoufakis. His head is screwed on right and he’s got a great accent. I like his reply to Wolfgang Munchau (“http://yanisvaroufakis.eu/2010/11/29/reply-to-munchau/”) for its creativity and attention to practicality. It’s of course too sensible to be implemented by the powers that be, who know better than to do the right thing.

  2. I left the following questions on his website. For now, I agree with his opinion that some supranational credit entity is the best way out of the eurozone crisis. I’m hoping that he’ll further discuss the long-term strategy of core EMU policy makers. I assume more than just “madness” is being implemented.

    Prof. Varoufakis:

    What do you think of the ongoing brinkmanship being performed by policy makers from the core of the EMU? Is this “madness” a reflection of some larger strategy? If so, what is their goal? Could they be setting the stage for changes to the political structure of the EMU?

    From a financial point of view, the EMU sovereign bond market seems to be changing from a spread market to a credit market. Is this an accident or a deliberate strategy?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: