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?

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