The establishment view in Europe is that the problem is too much debt (by profligate countries like Greece) and, therefore, that the solution must involve (a) austerity and (b) structural reforms (which increase the competitiveness of the weaker states). The problem, however, is that the establishment view is profoundly mistaken and, as a result, the proposed treatment poisons the patient. If this is so, Europe (and the world) have a lot more to fear from the ‘reasonableness’ of political parties like Fine Gael et al than from the ‘ultra-leftists’ of Syriza.

Spain has become the fourth Eurozone member-state to fall out of the markets, and has secured a bailout from Europe - albeit unofficially. By Yanis Varoufakis.

Eurobonds issued and backed by the ECB would alleviate the financing problems of all fiscally-stricken member states, and require no debt guarantees nor fiscal transfers from Germany, Holland or Finland. By Yanis Varoufakis.

They came. They talked eurobonds. They left in a miff. Why?

The circumstances Greece is facing today are genuinely different to those of Argentina a decade ago, meaning Greece cannot 'do' an Argentina. By Yanis Varoufakis.

A period of Greek ungovernability may be helpful to France's new president, and to Europe. By Yanis Varoufakis.

Greece and France go back a long, long way. The Greek revolution, that procured our small, and constantly problematic, nation-state, was a spinoff (to all intents and purposes) of the French revolution and the culmination of a Greek Enlightenment that owed everything to the French Enlightenment (and almost nothing to either its German or Scottish variants).

A currency union requires a unified banking sector. With one supervisory authority that keeps banks in check (and, hopefully, in awe), recapitalises them when the need arises and, when this happens, takes a stake in them in exchange for the capital injected into the banks. By Yanis Varoufakis.

The galloping euro crisis is dismantling the last vestiges of Europe’s democratic processes everywhere - not just in the periphery. By Yanis Varoufakis.

Journalists will throw much more useful light on an economic crisis if they manage to avoid the error of generalisation, the fallacy of aggregation, and the perils of compartmentalisation. By Yanis Varoufakis.

The dynamic of the Eurozone's crisis is continuing, and there is nothing whatsoever in its path to impede it. By Yanis Varoufakis.