Sunday, June 19, 2011

Yanis Varoufakis

Yanis Varoufakis is a Greek economist from the University of Athens. His blog is packed with media interviews, articles, papers, and what he calls the "Modest Proposal" for a solution to the Eurozone crisis.

I found his interviews and writing refreshing, entertaining, and deadly accurate. I haven't had time to absorb the sweeping changes in the Modest Proposal, but I agree with the starting point, which is that the Euro currency structure as originally conceived has fatal design flaws that are now manifesting now as systemic threats to the currency union. He claims (and I agree) that the sovereign debt problems are rooted in insolvency and not liquidity, and that the Euro banking system is also insolvent.

I found his web site by a link provided on Calculated Risk by commentator Haralambos.

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