Welcome to the Poisoned Chalice: The Destruction of Greece and the Future of Europe

Description

A world-renowned economist offers cogent and powerful reflections on one of the great avoidable economic catastrophes of the modern era The economic crisis in Greece is a potential international disaster and one of the most extraordinary monetary and political dramas of our time. The financial woes of this relatively small European nation threaten the long-term viability of the Euro while exposing the flaws in the ideal of continental unity. "Solutions" proposed by Europe’s combined leadership have sparked a war of prideful words and stubborn one-upmanship, and they are certain to fail, according to renowned economist James K. Galbraith, because they are designed for failure. It is this hypocrisy that prompted former finance minister Yanis Varoufakis, when Galbraith arrived in Athens as an adviser, to greet him with the words “Welcome to the poisoned chalice.”   In this fascinating, insightful, and thought-provoking collection of essays—which includes letters and private memos to both American and Greek officials, as well as other previously unpublished material—Galbraith examines the crisis, its causes, its course, and its meaning, as well as the viability of the austerity program imposed on the Greek citizenry. It is a trenchant, deeply felt commentary on what the author calls “economic policy as moral abomination,” and an eye-opening analysis of a contemporary Greek tragedy much greater than the tiny economy of the nation itself. Cover Half Title Title Copyright Dedication Contents ONE: Welcome to the Poisoned Chalice PART I: 2010–2014 TWO: Europe’s Crisis: Thinking It Through to the End THREE: Greece and the European Project FOUR: A Question of Moral Responsibility FIVE: Neither Austerity nor Growth: Solidarity Is Europe’s Only Hope SIX: The Victory of SYRIZA Is Not Against American Interests with Yanis Varoufakis SEVEN: The United States and Europe: What Is Going On? PART II: 2015 EIGHT: The Greek Hope NINE: A Message to Sarah Raskin TEN: A Comment on the Way Forward ELEVEN: America Must Rally to Greece TWELVE: Reading the Greek Deal Correctly THIRTEEN: A Great German Greek Grexit Game? FOURTEEN: The Political Level FIFTEEN: A Report from Athens SIXTEEN: Does Europe Need Debt Relief? SEVENTEEN: Long-Term Strategy Through a Realistic Lens EIGHTEEN: Strategic Options NINETEEN: A Further Message to Sarah Raskin TWENTY: The Greek Drama and Democracy in Europe TWENTY-ONE: Notes on the Meeting, Varoufakis-Schäuble, June 8, 2015 TWENTY-TWO: What Is Reform? The Strange Case of Greece and Europe TWENTY-THREE: What Can Happen in the Next Days? TWENTY-FOUR: Bad Faith: The IMF and Europe on Greece TWENTY-FIVE: Only the “No” Can Save the Euro TWENTY-SIX: Nine Myths About the Greek Referendum TWENTY-SEVEN: What Is the Matter with Europe? TWENTY-EIGHT: Exit Made Easy TWENTY-NINE: Greece, Europe, and the United States THIRTY: Plan B THIRTY-ONE: Statement on the Ministry of Finance Working Group THIRTY-TWO: A Note to the Editors at the Guardian THIRTY-THREE: Death Spiral Ahead? THIRTY-FOUR: The Future of Europe THIRTY-FIVE: What the Greek Memorandum Means with Daniel Munevar THIRTY-SIX: Back to Square Zero THIRTY-SEVEN: A Final Word: Madrid, October 21, 2015 Appendix: A Summary of Plan X Acknowledgments Notes