Greek Success Story: The latest Orwellian Turn of the Greek Crisis

22 May-http://yanisvaroufakis.eu

 

Greece’s Prime Minister recently flew to China, to woo Chinese investors. In his bid to be persuasive, he adopted a radical narrative: Greece is a Success Story. A country that almost perished in 2012  is now on the mend; on the road to stabilisation and growth; a wonderful opportunity, currently, for investors to pick up ultra cheap investments and to benefit from the forthcoming growth. How much of this is true, however?

Greek Prime Ministers and Finance Ministers have been upbeat for the past three catastrophic years. Mr Samaras’ narrative is, therefore, neither here nor there per se. Indeed, one may credibly argue that it is his job to put on a brave face and to be upbeat, especially when in a country like China where he is struggling to beat up some investments for his suffering country. However, what makes the Greek Success Story (GSS) narrative interesting is that the international press and the money markets seem to concur.

The Good, the Bad and the Extremely Ugly (aspects of the Cyprus deal)

25 Mar

 

Yanis Varoufakis 

There are some good features of the Cyprus deal and, of course, some bad aspects. However, its repercussions for the Eurozone as a whole are exceptionally ugly and will, I submit, mark a turning point for Europe; a point at which Europe took a nasty turn toward a set of mutually disagreeable outcomes.

Cyprus Parliament’s gift to the Eurozone

20/3/2013
Yanis Varoufakis

By voting down the bailout proposal that would violate the deposit insurance agreement between a member-state of the Eurozone and its citizens (see my earlier post for an analysis), Cyprus parliamentarians offered the Eurozone a reprieve from the stupidest and most potentially destructive Eurogroup decision since this Crisis began three years ago. Europe now has, thanks to Cyprus’ Parliament, a second bite at the cherry and it is up to its leaders to make amends, to understand the error of their ways, and to come up with a sensible alternative. We may disagree on what that is. However, it is difficult to imagine that there is anyone who continues to believe that allowing a member-state of the Eurozone to default on the deposit insurance scheme (i.e. confiscating deposits less than 100 thousand euros) was a bright idea. 

Some of us always said it: Grexit was an incredible threat

 

http://yanisvaroufakis.eu/ 

27 Jan

So, Grexit is off the table, at least for now.

Well, it was really never on the table, as some of us have been shouting from the rooftops for years now.