Originally published at http://www.commondreams.org/views/2019/11/02/another-europe-possible
One of the sharpest knives in the drawer.
Glad to see the term “feudalism” and the nuts and bolts set down in stark black and white. Also glad to see “neoliberalism” yanked out of manipulative media hands:
" The use of the term in relation to West-Soviet relations was just a cloak under which to hide libertarian industrial feudalism, but neoliberalism has as much to do with financialized capital post-1970s as it does with Cold War geopolitical relations. Similarly—and I know this is a controversial statement—there’s nothing neoliberal about the world we live in today. It is neither new in the sense of “neo” nor liberal in the sense of fostering democratic values. Look at what has been happening in Europe over the last decade. Gigantic bank bailouts are funded through taxation. There is nothing really “neoliberal” about the use of such vast subsidies from the public to finance capitalists." (emphases added)
teasing apart the financing of incompetent [ie: narcissistic greed] capitalists - an entire stratum of which now pose mortal danger to life on the planet, is, in my opinion, one of our primary tasks. Imagine clear identification of the abuses of a sector, the documentation made part of everyone’s life and subsequent unstinting prosecution thereof. Boycotts were show by the state of Israel to present such a threat to its illegalities and abuses that we might all keep in mind this mode of engagement - vote with the purchase every single day.
While I’m mostly in agreement with Varoufakis; I do have this question – what country or countries will be the enduring surplus jurisdiction(s) of a new Bretton Woods system lest another Triffin’s dilemma demolish it?
Heres a wiki on Triffin’s Dilemma /Paradox. I was unfamiliar with it:
“John Maynard Keynes had anticipated this difficulty and had advocated the use of a global reserve currency called ‘Bancor’. Currently the IMF’s SDRs are the closest thing to the proposed Bancor but they have not been adopted widely enough to replace the dollar as the global reserve currency.”
Today we are seeing crypto currency/block chain technologies wrestling with, among other things, these sorts of loops that become powerful loopholes for the deviously clever and power hungry.
Powerful words from Yanis.
Net result: Some form of Green New Deal to start the transformation.
I’m OK with that.
The Euro was a wary first step towards Bancor, but the long ongoing PIGS (Portugal, Italy, Greece, Spain) crisis has knocked the sails out of that idea for the present term. Until those countries can figure out their economic relationship with the relatively healthier members of the Eurozone (especially Germany, which is its’ economic engine) beyond just buying German goods on essentially borrowed money, the Euro will not progress.
Yanis, you are a powerful force in those who wish to think. Knowing your common background with me you will probably recognize Enchanted Rock, Pedernales Falls, and McKinney Falls. If I ever get over to Greece, I hope to be blessed with such gems.
Over the past several years, commondreams.org has provided me with very many valuable articles that I would never have come across otherwise - particularly on the environment and on global progressive politics. This interview with Yanis Varoufakis is another. Varoufakis appears to perceive the current political-economic situation very clear-mindedly, and articulates his views and the reasons for them quite clearly. We are fortunate to have such a voice. Re commondreams.org: I wish I did not live below the poverty line, with a recently-incurred large expense, to be able to support it in a way correspondent to its value. Someday.
Excellent analysis. True internationalism is our only hope of defeating the ecocidal monstrosity of capitalism and surviving this century.
All of us of none!