A New Deal to Save Europe by Yanis Varoufakis | Project Syndicate


Simply put, progressives need to ask a straightforward question: Why is the European idea dying? The answers are clear: involuntary unemployment and involuntary intra-EU migration.

Involuntary unemployment is the price of inadequate investment across Europe, owing to austerity, and of the oligopolistic forces that have concentrated jobs in Europe’s surplus economies during the resulting deflationary era. Involuntary migration is the price of economic necessity in Europe’s periphery.

The vast majority of Greeks, Bulgarians, and Spaniards do not move to Britain or Germany for the climate; they move because they must.

Source: A New Deal to Save Europe by Yanis Varoufakis – Project Syndicate

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