ATHENS – Margaret Thatcher famously quipped that the problem with socialists is that, eventually, they run out of other people’s money. But what happens when bankers run out of other people’s money, as seems likely to happen soon? Either we end up with another calamitous financial meltdown or we innovate to serve the public interest […] The post A Trust Fund for Everyone to Defuse the Stablecoin Time Bomb – Project Syndicate appeared first on Yanis Varoufakis.| Yanis Varoufakis
Hello, I am Yanis Varoufakis with a message from me and DiEM25, today, the 5th of July 2025, exactly 10 years after the Greek people voted overwhelmingly in a referendum to say a big, beautiful NO. A NO to the Big Business and Big Finance who, through their centre right and centre left political representatives, […] The post Ten years after the majestic, globally significant, yet betrayed NO Referendum of the Greek people – a personal message appeared first on Yanis Varoufakis.| Yanis Varoufakis
Francisco Goya’s etching The Sleep of Reason Produces Monsters was an artist’s stern warning of the hideous forces unleashed in the mind when reason lowers its guard. Today, stablecoins are the gruesome forces being released into the global economy as President Trump’s crypto dreams, unchecked by reason, morphed into the GENIUS Act. Stablecoins are the […]| Yanis Varoufakis
Donald Trump has made it impossible for any sensible person to persevere in the delusion that global business can continue as usual. We should all welcome this, even if we are livid with Trump’s shocking behaviour, decisions and narratives. The global economy will either be rebalanced or it will crash in ways that may make […] The post A Chinese New Bretton Woods? – Quancha op-ed appeared first on Yanis Varoufakis.| Yanis Varoufakis
Failure, corruption and warmongering: Ursula von der Leyen is awarded the International Charlemagne Prize of Aachen for her contribution to the EU – because in Europe utter failure is not only tolerated, but celebrated! It is one of life’s guilty pleasures when one’s cynical prejudices are confirmed. One such moment, when I allowed myself a […]| Yanis Varoufakis
“My philosophy, Mr President, is that all foreigners are out to screw us and it’s our job to screw them first.” With these words, the US Treasury Secretary convinced the President to deliver a colossal shock to the global economy. In the words of one of the President’s men, the objective was to trigger “a […]| Yanis Varoufakis
JD Vance, the US Vice President, told Europeans that their values are no longer America’s values. Pete Hegseth, the US Defence Secretary, added that Europeans “can’t make an assumption that America’s presence will last forever.” Keith Kellog, Trump’s special envoy for Ukraine and Russia, confirmed that Europe will not have a seat at the table […]| Yanis Varoufakis
In the not-too-distant past, many Marxist philosophers were weighed down by a shared despair. Capitalism, they feared, had become so totalizing, so all-consuming, that there was no longer any possibility of overthrowing it. “The philosophers have only interpreted the world, in various ways; the point is to change it,” Karl Marx famously wrote in 1845, […]| Yanis Varoufakis