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Taking stock of the Euro Crisis on the Keiser Report (video)

12/07/2013

I lake your expression of “spontaneous stupidity”. Just do not forget that stupidity is caused by stupid people in top of the decision making process.

Yanis Varoufakis

I always enjoy being interviewed by Max Keiser, despite our differences on a number of issues (the merits of the Gold Standard, Bitcoin – gold’s e’reincarnation), I beg to differ from him on his hypothesis that Greece fell to a well thought out conspiracy. There was no such thing. Just a badly designed common currency whose inevitable fragmentation gave an opportunity to a multitude of spivs, corrupt politicians and bankrupt bankers to help themselves to public assets and push whole populations into permanent poverty (so as to preserve their own privileges). In this interview Max waged an accusation at ex Greek PM, George Papandreou, insinuating that the latter bet on CDSs that were later triggered as a result of Greece’s bankruptcy (also known as PSI) (go to 4.’49” of the video). This allegation I know to be false, malicious and defamatory (hear my reply on 6’38”). As perhaps the most…

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