THE SUNDAY TIMES NUMBER 1 BESTSELLER. The crisis in Europe is not over, it's getting worse. In this dramatic narrative of Europe's economic rise and spectacular fall, Yanis Varoufakis, former finance minister of Greece, 'the emerging rock star of Europe's anti-austerity uprising' (Telegraph), shows that the origins of the collapse go far deeper than our leaders are prepared to admit - and that we have done nothing so far to fix them. In 2008, the universe of Western finance outgrew planet Earth. When Wall Street imploded, a death embrace between insolvent banks and bankrupt states consumed Europe. Half a dozen national economies imploded and several more came close. But the storm is far from over...From the aftermath of the Second World War to the present, Varoufakis recounts how the eurozone emerged not as route to shared prosperity but as a pyramid scheme of debt with countries such as Greece, Ireland, Portugal and Spain at its bottom. Its woeful design ensured that collapse would be inevitable and catastrophic.But since the hurricane landed Europe's leaders have chosen a cocktail of more debt and harsh austerity rather than reform, ensuring that the weakest citizens of the weakest nations pay the price for the bankers' mistakes, while doing nothing to prevent the next collapse. Instead, the principle of the greatest austerity for those suffering the greatest recessions has led to a resurgence of racist extremism. Once more, Europe is a potent threat to global stability. Drawing on the personal experience of his own negotiations with the eurozone's financiers and offering concrete policies and alternatives, Varoufakis shows how we concocted this mess and how we can get out of it. And The Weak Suffer What They Must? reminds us of our history in order to save European capitalism from itself.
In this letter to his teenage daughter, one of the world's most famous economists uses vivid stories to explain what economics is and why it is so dangerous. What is money and why does debt exist? Where do wealth and inequality come from? How come economics has the power to shape and destroy our lives? Economics is not a technical science, it is an epic drama: a battleground of ideas, a war between the powerful for our allegiance. In this universally accessible book, Yanis Varoufakis describes how this drama first emerged and has since come to dominate the fate of human societies worldwide. In answering all of the big questions about money and debt, power and inequality, he shows how economics has sought to solve the problems of our world but ended up being a major cause of many of them. Drawing on history and literature, science fiction and personal memories, this intimate and inspiring book shines a light for readers of all ages on some of the most bewildering questions and important challenges that humanity faces.
'One of the greatest political memoirs of all time' (Guardian) -- The Sunday Times Number 1 Bestseller What happens when you take on the establishment? In this blistering, personal account, world-famous economist Yanis Varoufakis blows the lid on Europe's hidden agenda and exposes what actually goes on in its corridors of power. Varoufakis sparked one of the most spectacular and controversial battles in recent political history when, as finance minister of Greece, he attempted to re-negotiate his country's relationship with the EU. Despite the mass support of the Greek people and the simple logic of his arguments, he succeeded only in provoking the fury of Europe's political, financial and media elite. But the true story of what happened is almost entirely unknown - not least because so much of the EU's real business takes place behind closed doors. In this fearless account, Varoufakis reveals all: an extraordinary tale of brinkmanship, hypocrisy, collusion and betrayal that will shake the deep establishment to its foundations. As is now clear, the same policies that required the tragic and brutal suppression of Greece's democratic uprising have led directly to authoritarianism, populist revolt and instability throughout the Western world. Adults In The Room is an urgent wake-up call to renew European democracy before it is too late.
Why is there so much inequality?' Xenia asks her father, the world-famous economist Yanis Varoufakis. Drawing on memories of her childhood and a variety of well-known tales - from Oedipus and Faust to Frankenstein and The Matrix - Varoufakis explains everything you need to know in order to understand why economics is the most important drama of our times. In answering his daughter's deceptively simple questions, Varoufakis disentangles our troubling world with remarkable clarity, while inspiring us to make it a better one.
A Number One Sunday Times Bestseller What happens when you take on the establishment? In Adults in the Room, the renowned economist and former finance minister of Greece Yanis Varoufakis gives the full, blistering account of his momentous clash with the mightiest economic and political forces on earth. After being swept into power with the left-wing Syriza party, Varoufakis attempts to renegotiate Greece’s relationship with the EU?and sparks a spectacular battle with global implications. Varoufakis’s new position sends him ricocheting between mass demonstrations in Athens, closed-door negotiations in drab EU and IMF offices, and furtive meetings with power brokers in Washington, D.C. He consults and quarrels with Barack Obama, Emmanuel Macron, Christine Lagarde, the economists Larry Summers and Jeffrey Sachs, and others, as he struggles to resolve Greece’s debt crisis without resorting to punishing austerity measures. But despite the mass support of the Greek people and the simple logic of Varoufakis’s arguments, he succeeds only in provoking the fury of Europe’s elite. Varoufakis’s unvarnished memoir is an urgent warning that the economic policies once embraced by the EU and the White House have failed?and spawned authoritarianism, populist revolt, and instability throughout the Western world. Adults in the Room is an extraordinary tale of brinkmanship, hypocrisy, collusion, and betrayal that will shake the global establishment to its foundations.
VINTAGE MINIS: GREAT MINDS. BIG IDEAS. LITTLE BOOKS. How do we choose between what is fair and just, and what our debtors demand of us? Yanis Varoufakis was put in such a dilemma in 2015 when he became the finance minister of Greece. In this rousing book, he charts the absurdities that underpin calls for austerity, as well as his own battles with a bureaucracy bent on ignoring the human cost of its every action. Passionately outspoken and tuned to the voices of the oppressed, Varoufakis presents a guide to modern economics, and its threat to democracy, like no other. Selected from the books And the Weak Suffer What They Must? and Adults in the Room
What would a fair and equal society look like? The world-renowned economist and bestselling author Yanis Varoufakis presents his radical and subversive answer. Imagine it is 2025 and that years earlier, in the wake of the financial crisis of 2008, a global uprising had birthed a post-Capitalist world in which democracy, equality and justice are truly served. In a thought-experiment of startling originality, world-famous economist Yanis Varoufakis blends an ancient form - the Platonic dialogue - with speculative fiction to offer a glimpse of this alternative reality. Through the eyes of three characters - a liberal ex-banker, a radical feminist and a maverick technologist - we see what would be needed to forge such a world, one without commercial banks or stock markets, where companies are collectively owned and housing and income are guaranteed, but also at what cost. How to balance freedom with fairness? How to generate wealth while protecting the planet? How to encourage the best of humanity without unleashing the worst? As radical in its form as in its vision, Another Now shows how our answers to these questions shape our society, helping us confront the one question that underpins them all: how far are we willing to go in pursuit of our ideals?
What would a fair and equal society actually look like? Imagine a world with no banks. No stock market. No tech giants. No billionaires. In Another Now world-famous economist, Yanis Varoufakis, shows us what such a world would look like. Far from being a fantasy, he describes how it could have come about - and might yet. But would we really want it? Varoufakis's boundary-breaking new book confounds expectations of what the good society would look like and confronts us with the greatest question: are we able to build a better society, despite our flaws.