An excoriation of Europe’s elites from a Greek prophet

Non-fiction; And the Weak Suffer ; What They Must?; By Yanis Varoufakis ; Bodley Head, €23

8th May, 2016
Yanis Varoufakis argues that the German Bundesbank dominates European monetary policy, to the detriment of the rest of the eurozone Picture: Getty

The Bundesbank is the villain. The game played is international one-upmanship to cope with the vast imbalances of money, goods, and people that modern trading nations generate. At the rotten heart of this game is nothing more than the exigencies of power and national self-interest.

The euro, a currency designed to pull Europe’s disparate nations together, has instead left them increasingly divided into ‘creditor’ and ‘debtor’ categories, with the weak in each nation suffering more...

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