Thoughts for a Post-2008 World: A Conversation with Yanis Varoufakis, former Greek Finance Minister

Wednesday, May 9, 2018 - 11:30am - 1:30pm
World Affairs Council of Philadelphia One South Broad Street, Suite 2M
Philadelphia, PA
United States

The Eurozone Debt Crisis was the world’s greatest threat in 2011. The crisis highlighted the economic interdependence of the EU, while also underscoring the lack of political integration necessary to provide a coordinated fiscal and monetary response.

Beginning in 2010, the EU and IMF began providing bailouts for crisis-ridden economies, such as Greece. But the demands from wealthier states that bailout loans be conditioned on strict austerity measures were unpopular with the public, and led to popularity among anti-austerity political movements like the leftist Syriza party in Greece. The party won a resounding victory in the January 2015 election.

Then Minister of Finance, Yanis Varoufakis, championed an unprecendented move during his six month tenure—engineer an orderly bankruptcy for Greece within the euro, with the country’s debts significantly reduced and austerity scaled back, or leave the euro-zone and go the “sovereign-debt-crisis route.”

Despite Varoufakis’ efforts, then Prime Minister Alexis Tsipras submitted to the imposed austerity measures despite Greeks voting in a referendum to reject the 2015 bailout from the European troika.

Join the World Affairs Council of Philadelphia to hear Yanis Varoufakis recount his time in office from his memoir, Adults in the Room: My Battle With Europe’s Deep Establishment.

Event Type: 
International Studies