Greece’s new Finance Minister on his ‘modest proposal’ for the Eurozone – alittleecon


Here is a nice video of Greece’s new Finance Minister Yanis Varoufakis being interviewed in Italy late last year before Syriza came to power, writes Alex Little.

He talks about his ideas for resolving the Eurozone crises (plural) within the confines of  the current rules of the EU.

Alex goes on to point out the differences between Mr Varoufakis and George Osborne, after their meeting in Downing Street yesterday (February 2). There was an image that perhaps more easily described this (which This Writer has lost – sorry) – it describes Mr Varoufakis’s qualifications as a Doctor of Economics and a Professor of Economic Theory, and then goes on to quote George Osborne’s academic achievements, which include a 2:1 in History and failure to qualify as a journalist.

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  1. Paul C. Dickie February 3, 2015 at 12:16 pm - Reply

    When I first read that the Greek ‘Finance’ Minister had a modest proposal to fix the EU, I did wonder if he was following Swift’s idea and so suggested that one might eat Romanian children.

    • Mike Sivier February 3, 2015 at 12:33 pm - Reply


  2. Paul C. Dickie February 3, 2015 at 12:19 pm - Reply

    As for ‘George’ Gideon Osbourne’s qualifications, don’t forget that he once had a real job – as a towel re-folder in a London department store.

    • Mike Sivier February 3, 2015 at 12:32 pm - Reply

      Apparently you don’t need any qualifications for that – apart from the Old School Tie, one would imagine.

    • NMac February 3, 2015 at 12:41 pm - Reply

      Was he any good at it though?

      • Bill Kruse February 3, 2015 at 6:57 pm - Reply

        Apparently yes, even if you put him under any pressure, he folded :-)

  3. Andy Robertson-Fox February 3, 2015 at 5:54 pm - Reply

    Perhaps one needs to be a lıttle cautıous when comparıng Varoukafıs’s and Osborne’s qualıfıcatıons and the crıterıa to be Chancellor of the Exchequer.
    As far as I am aware sınce the Second World War no Chancellor has been either a Doctor or Professor ın the fıeld of economıcs. Indeed, surprısıngly ın that same perıod fıve Chancellors out of a total of twenty have had an economıcs degree – Gaıtskıll, Jenkıns, Barber, Lawson and Lamont.
    Perhaps a 2:1 ın hıstory and experience as a freelance journalıst are par for the course after all!

    • Mike Sivier February 3, 2015 at 6:40 pm - Reply

      He was a failure as a journalist, mind!

      • Andy Robertson-Fox February 3, 2015 at 7:31 pm - Reply

        Short lısted ın the hıghly competetıve journalıst traınıng scheme for one of the two major broadsheets and regular freelance contrıbutıons to the other before enterıng the world of party polıtıcs…maybe not that successful but hardly faılure!.

        • Mike Sivier February 3, 2015 at 8:25 pm - Reply

          Do you honestly believe that was on the basis of his own talent and not family connections? You notice he was only shortlisted and didn’t get onto the scheme.

          • Andy Robertson-Fox February 3, 2015 at 8:49 pm

            No idea – of course usıng one’s contacts ın order to secure employment ıs a recognısed method of job searchıng and has been sınce tıme ımmemorıal; I see nothıng wrong ın that.
            As regards whether makıng the short lıst can be classıfıed as sucess or faılure I suggest ıt really depends on how many applıcants there were orıgınally and how many places were avaılable.

      • Andy February 3, 2015 at 7:51 pm - Reply

        He’d have to have been far more “creative” to be a journalist.

      • Paul C. Dickie February 3, 2015 at 7:53 pm - Reply

        And also as a towel re-folder.

  4. Andy February 3, 2015 at 7:46 pm - Reply

    After their meeting it was telling that Mr Varoufakis said nothing and Mr Osborne came out with this bollocks…

    “We had a constructive discussion, and it is clear that the stand-off between Greece and the euro zone is the greatest risk to the global economy,”

    “I urge the Greek finance minister to act responsibly but it’s also important that the euro zone has a better plan for jobs and growth,” .

    “It is a rising threat to the British economy. And we have got to make sure that in Europe as in Britain, we choose competence over chaos.”

    Mr Varoufakis probably already knew he was talking to an economic illiterate driven by neoliberal ideology and rhetoric. When people like Paul Krugman, Martin Wolf and even Max Keiser think Mr Osborne has it wrong, it really makes you wonder if Mr Osborne is on the same planet.

  5. Bookmanwales February 3, 2015 at 8:39 pm - Reply

    One sentence hit the nail on the head, the EU was not set up for the people but for the corporations.. exactly right. !!!!

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