— Yanis Varoufakis (@yanisvaroufakis) April 4, 2020
And here you have it: Italy et al buckled. They accepted ESM loans that will lead to stringent austerity next year, pitiful EIB business loans, a pseudo-federal unemployment re-insurance scheme, plus a few crumbs of philanthropy. In return they committed to permanent depression
— Yanis Varoufakis (@yanisvaroufakis) April 9, 2020
Hertz went bust but can now sell $1 billion worth of shares to survive. When shares of a bankrupted company sell like hot cakes (due to Central Bank liquidity) you know that this is not even capitalism any more. Socialism for the very, very few, insolvency for the rest.
— Yanis Varoufakis (@yanisvaroufakis) June 13, 2020
The Bank of England just announced it will finance the gvt directly. Meanwhile in the eurozone the tragi-comedy of errors, also known as the Eurogroup, will reconvene tonight to proclaim that the crisis is SO urgent that it will do NOTHING of macroeconomic significance.
— Yanis Varoufakis (@yanisvaroufakis) April 9, 2020