Tomás Ó Flatharta

Looking at Things from the Left

Coronavirus has sparked a perfect storm of nationalism and financial speculation – Yanis Varoufakis, Former SYRIZA Finance Minister in Greece – THE GUARDIAN

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Here is a fresh warning about the toxic combination of two different phenomenons – the CoVid-19 Health Crisis and a Financial Money Markets Storm, similar to the 2008 Crash.

The author is Yanis Varoufakis, the Greek Finance Minister sacked from a SYRIZA Government before it surrendered to the Austerians.

See also https://tomasoflatharta.wordpress.com/2020/03/06/coronavirus-is-not-responsible-for-the-fall-of-stock-prices-international-viewpoint-online-socialist-magazine/.

When the air is replete with inflammable materials, any given spark can cause a financial explosion, at any time.

Éric Toussaint of CADTM examines a worldwide stock market collapse.

Eric Toussaint is a historian and political scientist who completed his Ph.D. at the universities of Paris VIII and Liège, is the international spokesperson of the CADTM (Committee for the Abolition of Illegitimate Debt) , and sits on the Scientific Council of ATTAC France. 
He is the author of Debt System (2019), Bankocracy (2015); Glance in the Rear View Mirror. Neoliberal Ideology From its Origins to the Present, Haymarket books, Chicago; “Debt, the IMF, and the World Bank, Sixty Questions, Sixty Answers”, Monthly Review Press, New York, 2010. He has published extensively in this field. He is a member of the Fourth International leadership.

Yanis Varoufakis, Former SYRIZA Finance Minister in Greece

Nationalism and speculation have seldom had a better opportunity to combine forces as the one riding today on the coattails of Covid-19, known as the coronavirus. When Covid-19 leapfrogged from China to Italy, even ardent Europeanists normally appreciative of open borders joined the deafening calls to end freedom of movement across Europe’s national borders – a longstanding demand of nationalists. Meanwhile, the money men speculating on government debt are performing a classic flight from Italian to German government bonds, seeking the financial safety that only the continent’s hegemon can offer during any crisis. As if in a bid to remind us of the great contradiction of our times, Covid-19 is illuminating gloriously the freedom of money to transcend a borderless financial universe while humans remain as fenced in as ever.

Coronavirus has sparked a perfect storm of nationalism and financial speculation – THE GUARDIAN

https://www.yanisvaroufakis.eu/2020/03/09/coronavirus-has-sparked-a-perfect-storm-of-nationalism-and-financial-speculation-the-guardian/
— Read on www.yanisvaroufakis.eu/2020/03/09/coronavirus-has-sparked-a-perfect-storm-of-nationalism-and-financial-speculation-the-guardian/

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