European Crisis

Profiles in Euro-Denial: The thwarted euro reforms & Greece’s permanent debt bondage – Project Syndicate op-ed

ATHENS – Europe’s establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece’s debt crisis, and a Franco-German accord to redesign the eurozone. Unfortunately, both reports offer fresh proof of the European Union establishment’s remarkable talent for never missing an opportunity to miss an opportunity.

Interviewed by Il Fatto Quotidiano on developments in Italy, Europe and Greece. Here is the original Q&A in English

Italian daily Il Fatto Quotidiano interviewed me (see here) regarding the latest developments in Italy, Europe and Greece. The original Q&A (in English) follows:

Greece is about to exit from the notorious memorandum, the austerity plan signed with the troika. Public finance has improved at a high price for the population as we all know.

With his choice of prime minister, Italy’s president has gifted the far right – THE GUARDIAN

Italy should be doing well. Unlike Britain, it exports considerably more to the rest of the world than it imports, while its government spends less(excluding interest payments) than the taxes it receives. And yet Italy is stagnating, its population in a state of revolt following two lost decades.

Complete text of my interview with Corriere Della Sera’s Aldo Cazzullo (in English)

Corriere Della Sera, the Italian daily, published today an interview that I gave to Aldo Cazzullo. For the published version (in Italian of course), you can visit the paper’s site here. However, the published text is a heavily reduced version of the exchange between Mr Cazzullo and myself. For those interested in the full exchange, see below. (Nb. the exchange took place in English)

Merkel’s Comeuppance is Europe’s – and the World’s – Misfortune – Project Syndicate op-ed

JOHANNESBURG – One of the most common mistakes European leaders make in interpreting US President Donald Trump’s hostility toward America’s traditional allies, or the alacrity of his administration’s efforts to blow up the international order, is to assume that all of this is unprecedented. Nothing could be further from the truth.

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The Open Letter sent to me in 2015 by Paolo Savona & Giulio Tremonti, two former Italian ministers, on reforms to the EU that they considered necessary

Rome, July 24, 2015
To Yanis Varoufakis and Dominique Strauss-Khan
Dear Yanis, dear Dominique,
There is a place on earth that represents Europe’s very roots: Greece. Let us begin there.
Athens, April 28, 1955. Albert Camus’ conference on “The future of Europe”.[1]
On this occasion, participants agreed that the structural characteristics of European civilization are essentially two: the dignity of the individual; a spirit of critique.

President Mattarella of Italy: From moral drift to tactical blunder

I concede that there are issues over which I would welcome the Italian President’s use of constitutional powers that (in my humble opinion) he should not have.(*)  One such issue is the outrageous policy of the Lega and the promise of its leader, Mr Salvini, to expel five hundred thousand migrants from Italy. Had President Mattarella refused Mr Salvini the post of Interior Minister, on the basis that he rejects such a monstrous project, I would be compelled to support him. But, no, Mr Mattarella had no such qualms.