Click here for an 8 minute version, recorded at a later Cambridge Union event
Click here for an 8 minute version, recorded at a later Cambridge Union event
ATHENS – If Donald Trump understands anything, it is the value of bankruptcy and financial recycling. He knows all about success via strategic defaults, followed by massive debt write-offs and the creation of assets from liabilities. But does he grasp the profound difference between a developer’s debt and the debt of a large economy? And does he understand that China’s private debt bubble is a powder keg under the global economy? Much hinges on whether he does… [To read on click here]
This speech was part of a Cambridge Union debate on ‘This House Has Lost Confidence in Austerity’. See below for the video of the whole debate. Continue reading
Democracy starts at home! So, at DiEM25 we decide on the movement’s important policy positions by means of an internal vote/referendum that follows a free and frank internal exchange. Below you will find the four options that our members are currently voting for (there will be a runoff vote if none of them secure 50% of the votes plus 1). You will also find a briefing on the state-of-play with the Brexit process (or is it shambles?).
Yanis Varoufakis, Ralph Nader, Tim Barker, Donna Murch and Simon Schama, interviewed by Christopher Lydon.
So, the European Commission, at last, concluded that the eurozone’s fiscal stance is too austerian. “Better late than never”, some will say. Alas, this is too optimistic a take. The reason? The Commission is irrelevant and it knows it. Decisions of fiscal policy are now taken in the eurogroup where Commissioner Moscovici has next to no gravitas. Moreover, the Commission seems to know this, putting forward a proposal that it knows will be ignored. Continue reading
On the same day that I addressed an audience of more than 1000 DiEM25 members in Hamburg, I was also kindly invited by Joachim and Renate Pawlik to address the Pawlik Group‘s Annual Conference. In my Keynote Address to the business representatives attending, I spoke of the need for a radical unionist campaign to counter the ubiquitous rise of xenophobic nationalism. And I dared suggest that this most DiEM25-like campaign should be kickstarted with the Speech of Hope for Europe. “Who should deliver it”, I asked. “Of all politicians that can pull it off”, I suggested “the only one standing is Angela Merkel. It is her last chance to leave behind a legacy of the European leader that saved the European project.”
FOR THE KEYNOTE CLICK BELOW
FOR THE Q&A THAT FOLLOWED CLICK BELOW
& TV
I had no doubt Donald Trump would win, just like I had no doubt Brexit would happen, so maybe I’m not as shell-shocked as you,” says Yanis Varoufakis. The former Greek finance minister is speaking to me several days after the Republican candidate’s historic victory. He doesn’t sound smug about being so prescient, more resigned, deflated, defeated. The left has been here before. Continue reading
The election of Donald Trump symbolises the demise of a remarkable era. It was a time when we saw the curious spectacle of a superpower, the US, growing stronger because of – rather than despite – its burgeoning deficits. It was also remarkable because of the sudden influx of two billion workers – from China and Eastern Europe – into capitalism’s international supply chain. This combination gave global capitalism a historic boost, while at the same time suppressing Western labour’s share of income and prospects. Continue reading
Why is America still important? Below I copy the answer I gave in 2011 in the last chapter of The Global Minotaur: America, Europe and the Future of the World Economy. (For those not familiar with the economic meaning of my Minotaur allegory, read this.) Today, as the Trump Presidency looms, I fear that that conclusion is even more pertinent…
[Excerpt from Chapter 9] Continue reading
In this piece, Paul Tyson, honourary Research Fellow at the University of Queensland, outlines his take on the rise of rightwing populist resentment, as a powerful political force, from an Australian perspective.
I had a bet with my American friend Stewart Brand that Trump would win. He wrote to me this morning: “You called it right. And I called it wrong. Groan. Now the weirdness!”
I wrote back to him: Continue reading
Donald Trump’s victory marks the end of an era when a self-confident Establishment preached the end of history, the end of passion and the supremacy of a technocracy working on behalf of the 1%. But the era it ushers in is not new. It is a new variant of the 1930s, featuring deflationary economics, xenophobia and divide-and-rule politics.
By Thomas Seibert and Yanis Varoufakis, members of DiEM25’s Coordinating Collective
As in the case of Brexit, we refuse to respond in a binary manner (remain or leave, Clinton or Trump) to the question facing voters. Continue reading