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A N D T H E W E A K S U F F E R W H AT T H E Y M U S T ? 9781568585048-text.pdf 1 1/26/16 7:02 AM 9781568585048-text.pdf 2 1/26/16 7:02 AM A N D T H E W E A K S U F F E R W H A T T H E Y M U S T ? europe’s crisis and america’s economic future Y A N I S V A R O U F A K I S New York 9781568585048-text.pdf 3 1/26/16 7:02 AM Copyright © 2016 by Yanis Varoufakis Published by Nation Books, A Member of the Perseus Books Group 116 East 16th Street, 8th Floor New York, NY 10003 Nation Books is a co-publishing venture of the Nation Institute and the Perseus Books Group All rights reserved. Printed in the United States of America. No part of this book may be reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in critical articles and reviews. For information, address the Perseus Books Group, 250 West 57th Street, 15th Floor, New York, NY 10107. Books published by Nation Books are available at special discounts for bulk purchases in the United States by corporations, institutions, and other organizations. For more information, please contact the Special Markets Department at the Perseus Books Group, 2300 Chestnut Street, Suite 200, Philadelphia, PA 19103, or call (800) 810-4145, ext. 5000, or e-mail [email protected]. Library of Congress Cataloging-in-Publication Data Names: Varoufakis, Yanis, author. Title: And the weak suffer what they must? : Europe’s crisis and America’s economic future / Yanis Varoufakis. Description: New York : Nation Books, 2016. | Includes bibliographical references and index. 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(cid:76)(cid:86)(cid:69)(cid:81)(cid:3)(cid:28)(cid:26)(cid:27)(cid:16)(cid:20)(cid:16)(cid:24)(cid:25)(cid:27)(cid:24)(cid:27)(cid:16)(cid:24)(cid:19)(cid:24)(cid:16)(cid:24)(cid:3)(cid:11)(cid:72)(cid:69)(cid:12) isbn 978-1-56858-564-2 (int’l) Editorial production by Marrathon Production Services. www.marrathon.net (cid:69)(cid:82)(cid:82)(cid:78)(cid:3)(cid:71)(cid:72)(cid:86)(cid:76)(cid:74)(cid:81)(cid:3)(cid:69)(cid:92)(cid:3)(cid:77)(cid:68)(cid:81)(cid:72)(cid:3)(cid:85)(cid:68)(cid:72)(cid:86)(cid:72) Set in 11-point Berthold Baskerville Book 10 9 8 7 6 5 4 3 2 1 9781568585048-text.pdf 4 1/26/16 7:02 AM for my mother eleni, who would have savaged with the greatest elegance and compassion anyone contemplating the notion that the weak suffer what they must 9781568585048-text.pdf 5 1/26/16 7:02 AM 9781568585048-text.pdf 6 1/26/16 7:02 AM contents preface The Red Blanket ix chapter 1 And the Weak Suffer What They Must 1 chapter 2 An Indecent Proposal 27 chapter 3 Troubled Pilgrims 61 chapter 4 Trojan Horse 90 chapter 5 The One That Got Away 119 chapter 6 The Reverse Alchemists 143 chapter 7 Back to the Future 198 chapter 8 Europe’s Crisis, America’s Future 238 afterword From Dissonance to Harmony 250 Acknowledgments 253 Appendix to Chapter 7: A Modest Proposal 255 Notes 265 References 313 Index 317 About the Author 337 vii 9781568585048-text.pdf 7 1/26/16 7:02 AM 9781568585048-text.pdf 8 1/26/16 7:02 AM preface T H E R E D B L A N K E T O ne of my enduring childhood memories is the crackling sound of a wireless hidden under a red blanket in the middle of our living room. Every night, at around nine I think, Mom and Dad would hud- dle together under it, their ears straining, bursting with anticipation. (cid:56)(cid:83)(cid:82)(cid:81)(cid:3)(cid:75)(cid:72)(cid:68)(cid:85)(cid:76)(cid:81)(cid:74)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:80)(cid:88)(cid:73)(cid:192)(cid:72)(cid:71)(cid:3)(cid:77)(cid:76)(cid:81)(cid:74)(cid:79)(cid:72)(cid:15)(cid:3)(cid:73)(cid:82)(cid:79)(cid:79)(cid:82)(cid:90)(cid:72)(cid:71)(cid:3)(cid:69)(cid:92)(cid:3)(cid:68)(cid:3)(cid:42)(cid:72)(cid:85)(cid:80)(cid:68)(cid:81)(cid:3)(cid:68)(cid:81)(cid:81)(cid:82)(cid:88)(cid:81)(cid:70)- er’s voice, my six-year-old boy’s imagination would travel from our home in Athens to Central Europe, a mythical place I had not visited yet except for the tantalizing glimpses offered by an illustrated Broth- ers Grimm book I had in my bedroom. My family’s strange red blanket ritual began in 1967, the inaugural year of Greece’s military dictatorship. Deutsche Welle, the German international radio station that my parents were listening to, became our most precious ally against the crushing power of state propaganda at home: a window looking out to faraway democratic Europe. At the end of each of its hourlong special broadcasts on Greece, my parents and I would sit around the dining table while they mulled over the latest news. Not understanding fully what they were talking about neither bored nor upset me. For I was gripped by a sense of excitement at the (cid:86)(cid:87)(cid:85)(cid:68)(cid:81)(cid:74)(cid:72)(cid:81)(cid:72)(cid:86)(cid:86)(cid:3)(cid:82)(cid:73)(cid:3)(cid:82)(cid:88)(cid:85)(cid:3)(cid:83)(cid:85)(cid:72)(cid:71)(cid:76)(cid:70)(cid:68)(cid:80)(cid:72)(cid:81)(cid:87)(cid:29)(cid:3)(cid:87)(cid:82)(cid:3)(cid:193)(cid:81)(cid:71)(cid:3)(cid:82)(cid:88)(cid:87)(cid:3)(cid:90)(cid:75)(cid:68)(cid:87)(cid:3)(cid:90)(cid:68)(cid:86)(cid:3)(cid:75)(cid:68)(cid:83)(cid:83)(cid:72)(cid:81)(cid:76)(cid:81)(cid:74)(cid:3)(cid:76)(cid:81)(cid:3)(cid:82)(cid:88)(cid:85)(cid:3) very own Athens, we had to travel, through the airwaves, and veiled by a red blanket, to a place called Germany. The reason for the red blanket was a grumpy old neighbor called Gregoris. Gregoris was known for his connections with the secret po- lice and his penchant for spying on my parents; in particular my dad, whose left-wing past made him an excellent target for an ambitious, lowly snitch. After the coup d’état of April 21, 1967, brought neofascist ix 9781568585048-text.pdf 9 1/26/16 7:02 AM

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