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.
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