A modest proposal for resolving the Eurozone crisis

Yanis Varoufakis · Stuart Holland

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European Monetary and Fiscal Policies European Union Policy and Governance Global Financial Crisis and Policies

Abstract

This paper presents three simple policies for overcoming the crisis that can be implemented immediately and require none of the moves such as national guarantees or fiscal transfers to which many Europeans are opposed, nor moves towards federation that entail Treaty changes, which electorates are most likely to reject. The logic behind these policy proposals is juxtaposed with the false dilemmas that currently impede clear thinking and immobilise Europe’s policymakers.

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