but what i found interesting about this video is how openly he suggests that the crisis is meant to stimulate a political union, and how easily stiglitz seemed to agree with him. this is generally considered to be in the realm of conspiracy theory, or at least in that space of somewhat heavy-handed left-wing analysis that tends to look like conspiracy theory to most people. but, nobody blinks an eye, here. it's just stated as obvious.
the truth is that stiglitz was very patient with this guy. the correct answer is that there is nothing that greece can do without looking at the framework of the eurozone. you can spend as much money as you want, it doesn't change the fundamental reality that the system is impossible. and, he even seems to agree with that and says "but...".
no. there's no "but". it's political union or bust.
Miguel Rodríguez Ruiz
How can the idea of a Federal europe be a left-wing conspiracy their?
*theory
deathtokoalas
+Miguel Rodríguez Ruiz there's a strain of thinking on the left that sees the european union as a kind of fourth reich and - implicitly or explicitly - tends to argue it was planned by nazi banking cartels, behind closed doors.
what i'm getting at is that this perception is really reducible to a question of scale. there doesn't have to be a grand illuminati cabal for it to be basically right.
Giannhs Kwstas
+jessica I dont think he speaks left wingy or right wingy, he speaks common sense.
deathtokoalas
+Giannhs Kwstas what i'm pointing out is that he is not making any sense at all - he's spouting a lot of hard-right idiocy.
i should also point out that, in canada, "common sense" is doublespeak for "extreme right-wing policies". whenever that term is brought up, you know to expect absolute nonsense. it's broadly used to reject empiricism by pushing disingenuously presented intuition - to replace academic approaches with constructed gut reactions. it's the mark of anti-intellectualism. i don't know if that's also true in europe.
----
Alan Pater
Speaking of a US of Europe is counter productive, I think. Many Europeans hate the idea of modeling themselves after the US.
Perhaps Europe could take a look at the Canadian system? Canada has three territories and ten provinces, each with their own budgets for healthcare, education, welfare, etc. Yet it remains an optimum currency area.
Alex Khalif
Hi, when Varoufakis talks about a "United States" of Europe, I think he is talking about some sort of "Federated Europe" where the peoples of Europe live in a more harmonious way, with the possibility of a number of shared institutions like a Central Bank. In his previous talks Yanis has stressed that Federation cannot be created in the middle of a crisis & that it will take approx. 20 years to make it happen. The institutions & structures that were created in the 60s, 70s & 80s by the so called technocrats n Brussels, Paris & Berlin have failed spectacularly to deal with the earthquake that hit Europe. Also among Europe's elites the notion of TINA (There Is No Alternative) must be killed off!!
Charly CGN
The Terminus Technicus we use in Europe is "Multi-speed Europe". Nobody seriously wants a "United States of Europe". Yanis Varoufakis is a fool. He and his communist party really should do all of us a favor and leave the Eurozone!
Alex Khalif
Varoufakis maybe an idealist when it comes to reforming European institutions as well as trying to stop Europeans turning against each other...BUT iam certain he is no fool & he is not a member of a "communist" government!
Charly CGN
Yes, of course. The Syriza-Party is a coalition of the radical left. That's the point. You know, I'm from western Germany and because of the subprime mortgage crisis and the corruption in Greece today we have the upcoming right wing-parties Front National (France) and AfD (Alternative für Deutschland - Germany). So, if now Varoufakis is not quick about returning to the negotiating table he is responsible for the rest of Europe to lose its patience.
Alex Khalif
Iam not going to mention anything horrible about the Germans or their culture as I have some distant relatives living there even though I now live in Australia. Iam very disappointed in what Schäuble & others in the government had to say after the meeting with Varoufakis. They don’t seem to able to differentiate between somebody who is just a technocrat with a degree in Economics & Finance from a person with a deep intellectual understanding of European problems and practical solutions. The human cost of this whole debacle is too high. Also, its not our responsibility here in Australia to find jobs for unemployed European citizens who have fled the crisis, we have enough unemployed youth ourselves...
taguchi13
Kindly watch the video you're commenting on Christian. It is evident, from your comment, that you have not.
Charly CGN
Right! We desperately need new GLOBAL institutions to deal with the consequences of climate change, inequality, injustice and implement the digital revolution.
TheHomoludens
Right, ´cause central bureaucrats actually solve problems, just look at Brussel...
Fool!
johnselekta
You are part of the problem I think. Media tells you he's a fool, you act like one. He is the only person I can see that wants to start at the top...where to do you think all the money goes? Thin air or a tax haven? Greece won't bring the Eurozone down, the people in power with hidden interests will as they profit from it.
deathtokoalas
canada is indeed the better example, primarily because it has an equalization payment system and the united states doesn't.
you could think of alberta as germany and new brunswick as greece. the way the canadian system works is that the federal government will collect taxes from alberta and send them to new brunswick as an "equalization payment", so that there are comparable standards of living across the country. if it wasn't for this system, the less wealthy provinces would not be able to afford things like healthcare.
that's the reality that greece has to come to terms with: it's economy will never be strong enough to use a german currency without a transfer system.