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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