Rather than a lesson on the economics of bailouts and austerity, Varoufakis’ memoir reads like a treatise on the politics of sovereign debt restructuring during crises.
Mark Blyth discusses the crises of the European Union, the repercussions of Brexit, alternatives to austerity, and his position as a “reluctant Constructivist”.
The less austere management of European capitalism would amount to an attempt to revive the spirit of social democracy, despite it having been exposed as a dead end.
Behind the debate over the artwork extracted from the Parthenon are British violence in post WWII Greece, the experience of austerity and matters of national identity.
Austerity measures are increasing tension between Greek police and protesters. We need to be concerned, for as the recession in Europe continues, police in other countries may come to play similar roles.
How can one change the policies of the European Union without politicization? What the EU needs is ‘policy with politics’ where the Eurozone crisis should be solved through growth, not endless austerity and decline.
Seniors and the elderly are going to pay for this new “American Austerity”, those who can least afford it. Lets face facts: if there are no revenue increases, there will have to be cuts in pretty much every part of the US budget. If there is no cut in military spending, it will be you and me, the average American taxpayer who will feel the cuts. Sadly, nothing good will come out of any of this.
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