Design Defects and Policy Failures
An Institutional Analysis of the Eurozone Crisis
Oct 5, 2012
This seminar offers a diagnosis of the current European debt crisis that traces its origins to inherent flaws in the legal and institutional design of the Eurozone. Questions to be addressed include:
- Is the European Monetary Union responsible for the current Eurozone crisis?
- What role have core nations such as Germany and France played in the crisis, compared to peripheral nations such as Spain and Greece?
- What are the political and economic implications of austerity?
- What policies should Europe adopt to resolve this crisis?
- ROHAN GREY: Seminar Introduction 0:00:00
- GEORGES UGEUX: Opening Moderator Remarks 0:48
- YANIS VAROUFAKIS: Introduction 3:54
- YANIS VAROUFAKIS: Background – The 1920s 7:56
- YANIS VAROUFAKIS: Introduction to Surplus Recycling 9:35
- YANIS VAROUFAKIS: Post WWII & Bretton Woods 13:19
- YANIS VAROUFAKIS: Why did the Gold Standard Die? 16:14
- YANIS VAROUFAKIS: Post 1970s – US deficits and the birth of the Eurozone 16:40
- YANIS VAROUFAKIS: Germany and the threat of Competitive Devaluation 18:50
- YANIS VAROUFAKIS: Why did the European elites want to create the Eurozone? 21:30
- YANIS VAROUFAKIS: The Maastricht Treaty and the Barriers to Entry for countries like Greece and Italy 24:42
- YANIS VAROUFAKIS: 2000-2008 – Low German growth, periphery running on borrowed money 27:42
- YANIS VAROUFAKIS: 2008 – Capital flows out of Europe, Domino effect 30:34
- YANIS VAROUFAKIS: The Eurozone is Doomed 31:48
- YOUTUBE: Misery Youtube clip 35:35
- MARSHALL AUERBACK: The Eurozone has failed 37:55
- MARSHALL AUERBACK: Greece as a whipping boy 40:37
- MARSHALL AUERBACK: The Grexit 42:23
- MARSHALL AUERBACK: Mario vs Mariano – The Problem in Spain 44:09