A great rebuttal of the neoliberal insistence that There Is No Alternative, from loc 3840 of the recent book by Yanis Varoufakis:

We were not naive enough to think that our blueprint would be implemented on the strength of its rationality. No, its purpose was simpler: to be able to counter official Europe’s doctrine with our own. To respond to Eurocrats insisting, ‘There is no alternative’ (TINA) that respects the treaties and the current rules with, ‘That, astonishingly, there is an alternative’ (TATIANA). Our TATIANA, entitled ‘A Modest Proposal for Resolving the Eurozone Crisis’, is a blueprint for addressing the crisis through Europeanizing its four components –the crises of public debt, banks, underinvestment and the poverty explosion –while decentralizing political power through a reduction in the discretionary power exercised illicitly by the Brussels–Frankfurt–Berlin triangle. Seen from another less politically charged perspective, the proposal’s greatest merit is that it offers a way to abandon the eurozone’s problematic principle of perfectly separable debts and banking sectors and to introduce the missing political surplus recycling mechanism without creating autocratic discretionary power at Europe’s centre and without any immediate need to rewrite the European Union’s existing rules and treaties.

Categories: Rethinking The World

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