And the weak suffer what they must? : Europe's crisis and America's economic future

__A titanic battle is being waged for Europe’s integrity and soul, with the forces of reason and humanism losing out to growing irrationality, authoritarianism, and malice, promoting inequality and austerity. The whole world has a stake in a victory for rationality, liberty, democracy, and humanism.__In January 2015, Yanis Varoufakis, an economics professor teaching in Austin, Texas, was elected to the Greek parliament with more votes than any other member of parliament. He was appointed finance minister and, in the whirlwind five months that followed, everything he had warned about—the perils of the euro’s faulty design, the European Union’s shortsighted austerity policies, financialized crony capitalism, American complicity and rising authoritarianism—was confirmed as the “troika” (the European Central Bank, International Monetary Fund, and European Commission) stonewalled his efforts to resolve Greece’s economic crisis. Here, Varoufakis delivers a fresh look at the history of Europe’s crisis and America’s central role in it. He presents the ultimate case against austerity, proposing concrete policies for Europe that are necessary to address its crisis and avert contagion to America, China, and the rest of the world. With passionate, informative, and at times humorous prose, he warns that the implosion of an admittedly crisis–ridden and deeply irrational European monetary union should, and can, be avoided at all cost. The Strong Do As They Can And The Weak Suffer What They Must.--thucydides The Fate Of The Global Economy Hangs In The Balance, And Europe Is Doing Its Utmost To Undermine It, To Destabilize America, And To Spawn New Forms Of Authoritarianism. Europe Has Dragged The World Into Hideous Morasses Twice In The Last One Hundred Years ... It Can Do It Again. Yanis Varoufakis, The Former Finance Minister Of Greece, Shows Here That The Eurozone Is A House Of Cards Destined To Fall Without A Radical Change In Direction. And, If The European Union Falls Apart, He Argues, The Global Economy Will Not Be Far Behind. Once America Abandoned Europe In 1971 From The Dollar Zone, Europe's Leaders Decided To Create A Monetary Union Of 18 Nations Without Control Of Their Own Money, Without Democratic Accountability, And Without A Government To Support The Central Bank. This Bizarre Economic Super-power Was Equipped With None Of The Shock Absorbers Necessary To Contain A Financial Crisis, While Its Design Ensured That, When It Came, The Crisis Would Be Massive. When Disaster Hit In 2009, Varoufakis Argues That Europe Turned Against Itself, Humiliating Millions Of Innocent Citizens, Driving Populations To Despair, And Buttressing A Form Of Bigotry Unseen Since The Second World War. Here, Varoufakis Offers Concrete Policies That The Rest Of The World Can Take Part In To Intervene And Help Save Europe From Impending Catastrophe, And Presents The Ultimate Case Against Austerity. With Passionate, Informative, And At Times Humorous Prose, He Warns That The Implosion Of An Admittedly Crisis-ridden And Deeply Irrational European Capitalism Should Be Avoided At All Cost-- Preface: The Red Blanket -- And The Weak Suffer What They Must -- An Indecent Proposal -- Troubled Pilgrims -- Trojan Horse -- The One That Got Away -- The Reverse Alchemists -- Back To The Future -- Europe's Crisis, America's Future -- From Dissonance To Harmony. Yanis Varoufakis. Includes Bibliographical References (pages 265-316) And Index. Europe has dragged the world into hideous morasses twice in the last one hundredyears ... it can do it again. Yanis Varoufakis, the former Finance Minister of Greece, shows here that the Eurozone is a house of cards destined to fall without a radicalchange in direction. And, if the European Union falls apart, he argues, the globaleconomy will not be far behind. Once America abandoned Europe in 1971 from the dollar zone, Europe's leaders decidedto create a monetary union of 18 nations without control of their own money, withoutdemocratic accountability, and without a government to support the Central Bank. Thisbizarre economic super-power was equipped with none of the shock absorbersnecessary to contain a financial crisis, while its design ensured that, when it came, thecrisis would be massive. When disaster hit in 2009, Varoufakis argues that Europeturned against itself, humiliating millions of innocent citizens, driving populations todespair, and buttressing a form of bigotry unseen since the Second World War. In the epic battle for Europe's integrity and soul, the forces of Reason and Humanismwill have to face down the new forms of authoritarianism. Europe's crisis is pregnantwith radically regressive forces that have the capacity to cause a humanitarianbloodbath while extinguishing the hope for shared prosperity for generations to come. The principle of the greatest austerity for the European economies suffering the greatestrecessions would be quaint if it were not also the harbinger of misanthropy and racism. Here, Varoufakis offers concrete policies that the rest of the world can take part in tointervene and help save Europe from impending catastrophe, and presents the ultimatecase against austerity. With passionate, informative, and at times humorous prose, hewarns that the implosion of an admittedly crisis-ridden and deeply irrational Europeancapitalism should be avoided at all cost ""The strong do as they can and the weak suffer what they must."--Thucydides The fate of the global economy hangs in the balance, and Europe is doing its utmost to undermine it, to destabilize America, and to spawn new forms of authoritarianism. Europe has dragged the world into hideous morasses twice in the last one hundred years ... it can do it again. Yanis Varoufakis, the former Finance Minister of Greece, shows here that the Eurozone is a house of cards destined to fall without a radical change in direction. And, if the European Union falls apart, he argues, the global economy will not be far behind. Once America abandoned Europe in 1971 from the dollar zone, Europe's leaders decided to create a monetary union of 18 nations without control of their own money, without democratic accountability, and without a government to support the Central Bank. This bizarre economic super-power was equipped with none of the shock absorbers necessary to contain a financial crisis, while its design ensured that, when it came, the crisis would be massive. When disaster hit in 2009, Varoufakis argues that Europe turned against itself, humiliating millions of innocent citizens, driving populations to despair, and buttressing a form of bigotry unseen since the Second World War. Here, Varoufakis offers concrete policies that the rest of the world can take part in to intervene and help save Europe from impending catastrophe, and presents the ultimate case against austerity. With passionate, informative, and at times humorous prose, he warns that the implosion of an admittedly crisis-ridden and deeply irrational European capitalism should be avoided at all cost"-- Provided by publisher A titanic battle is being waged for Europe’s integrity and soul, with the forces of reason and humanism losing out to growing irrationality, authoritarianism, and malice, promoting inequality and austerity. The whole world has a stake in a victory for rationality, liberty, democracy, and humanism. In January 2015, Yanis Varoufakis, an economics professor teaching in Austin, Texas, was elected to the Greek parliament with more votes than any other member of parliament. He was appointed finance minister and, in the whirlwind five months that followed, everything he had warned about—the perils of the euro’s faulty design, the European Union’s shortsighted austerity policies, financialized crony capitalism, American complicity and rising authoritarianism—was confirmed as the “troika” (the European Central Bank, International Monetary Fund, and European Commission) stonewalled his efforts to resolve Greece’s economic crisis. Here, Varoufakis delivers a fresh look at the history of Europe’s crisis and America’s central role in it. He presents the ultimate case against austerity, proposing concrete policies for Europe that are necessary to address its crisis and avert contagion to America, China, and the rest of the world. With passionate, informative, and at times humorous prose, he warns that the implosion of an admittedly crisis–ridden and deeply irrational European monetary union should, and can, be avoided at all cost.