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Why Europe Needs a New Deal, Not Breakup – op-ed in The Nation, with James K. Galbraith

The American New Deal of Franklin Roosevelt’s first two terms combined the goals of financial stabilization, reconstruction, conservation, and employment—jobs for the jobless; public works; power systems and new industries, especially in the South; soil conservation and reforestation to battle the Dust Bowl; and a potent mix of regulations and insurance to assert public power […]

Spain’s Crisis is Europe’s Opportunity – Project Syndicate op-ed, 6 OCT 2017

The Catalonia crisis is a strong hint from history that Europe needs to develop a new type of sovereignty, one that strengthens cities and regions, dissolves national particularism, and upholds democratic norms. Imagining a pan-European democracy is the prerequisite for imagining a Europe worth saving. ATHENS – To revive the ailing European project, the ugly […]

Schäuble leaves but Schäuble-ism lives on

Wolfgang Schäuble may heave left the finance ministry but his policy for turning the eurozone into an iron cage of austerity, that is the very antithesis of a democratic federation, lives on. What is remarkable about Dr Schäuble’s tenure was how he invested heavily in maintaining the fragility of the monetary union, rather than eradicating it in order […]

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The Establishment is in denial – interviewed by der Freitag (English text)

For der Freitag’s site click here. To read my original English answers… Mr Varoufakis, the current unemployment rate in the Eurozone is at 9,8%, the lowest since July 2009. One could get the impression things are getting better… It is, I grant you, still perfectly possible for those who wish to remain in denial to […]