This post appeared on Yanis’ blog today. Republishing it here with the kind permission of the author.
In his pivotal article in yesterday’s Financial Times, Martin Wolf put the matter starkly: “The eurozone, as designed, has failed.” Paul Krugman quickly added this chilling allegory to Wolf’s detailed argument: “If you ask me, the [...]

This post appeared on Yanis’ blog today. Republished with the kind permission of the author.
A Damocles’ Sword is, supposedly, hanging over Greece. We are told (even by the Greek EU commissioner) that Greeks must either accept that their country will be run, and micromanaged, by a committee of foreign creditors or [...]