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Global News and Analysis

Yanis Varoufakis: Let’s Change Europe From the Ground Up

"Our message to Europe’s authoritarian establishment: we will resist you through a radical programme that is technically more sophisticated than yours. Our message to the fascistic xenophobes: we will fight you everywhere. Our message to our comrades of the European left: you can expect unlimited solidarity from us, and one day our paths will converge in the service of a radical, transnational humanism." - Yanis Varoufakis

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Global News and Analysis

Yanis Varoufakis: If Trump wants to blow up the world order, who will stop him?

Source: The Guardian

As horrified as we may be at Trump’s uncouth antics, it is important to understand the tectonic shifts underpinning them

Donald Trump’s early departure, and his subsequent refusal to endorse the G7 communique, has thrown the mainstream press into an apoplexy reflecting a deeper incomprehension of our unfolding global reality.

In a bid to mix toughness with humour, Emmanuel Macron had quipped that the G7 might become the … G6. That’s absurd, not least because without the United States, capitalism as we know it (let alone the pitiful G7 gatherings) would disappear from the planet’s face. read more

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Global News and Analysis

Why Europe Needs a New Deal, Not Breakup

Source: The Nation

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 over high finance.

Europe today needs all of these. Its overgrown banks, haunted by the specter of insolvency, are pushing households into foreclosures and evictions across the continent, and at an accelerating scale in the most depressed countries. States are bankrupt and will only become more so as the European Central Bank begins to tighten under pressure from German savers crushed by negative interest rates. Like America 80 years ago, Europe has a vast periphery. In its South, there is a semi-permanent Great Depression, whereas in the East there is great need for new and renewed industries, transport networks, housing, and social investments. Above all, Europeans need jobs. read more