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Digital Subscriptions > Prospect Magazine > July 2017 > Immovable Europe

Immovable Europe

Greece had no choice but to fold when the EU united against it—a precedent the UK’s Brexit negotiators would do well to note
Apparent consensus: Eurogroup finance ministers in Brussels are little more than a rubber stamp
© SANDER DE WILDE/CORBIS VIA GETTY IMAGES

On 24th April 2015, the Greek finance minister, Yanis Varoufakis, attended a meeting of his Eurozone counterparts in the Latvian capital, Riga. Believing the gathering to be largely ceremonial, a sop to the Latvian government which held the rotating presidency of the European Union at the time, Varoufakis was expecting a short session on uncontroversial matters. Instead, the EU’s big hitters—in particular the Eurogroup’s Dutch president Jeroen Dijsselbloem and the German finance minister Wolfgang Schäuble—ambushed him. They threatened him with “plan B,” the vague term used to refer to Greece’s exit from the euro.

Adults in the Room: My Battle with Europe’s Deep Establishment by Yanis Varoufakis (Bodley Head, £20)

Berlin Rules: Europe and the German Way by Paul Lever (IB Tauris, £17.99)

Journalists covering the meeting reported that Varoufakis, a radical, leather-jacketed game-theory specialist turned politician, had lost his temper. They claimed that other finance ministers had called him all manner of names, from “gambler” and “amateur” to “time-waster.” There was even talk of a scuffle, something unheard of at these usually soporifically dull meetings. As if to confirm that there was no smoke without fire, Varoufakis had declined the invitation to attend the Eurogroup dinner, preferring to enjoy beer and sausages with his Greek entourage. Stories of his growing isolation from the rest of the Eurozone tribe spread across the media.

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In Prospect’s July issue: Steve Richards, Rachel Sylvester and Shiv Malik—as well as Chris Hanretty and Julian Glover—cover the fallout from the recent general election. Richards looks at how the assumptions of centrist politics were upended and how Labour managed to stun the nation—a point that Chris Hanretty explores in more detail, explaining how Corbyn turned the tide for social democracy. Sylvester questions how Theresa May managed to squander her majority—Julian Glover says it wasn’t just May’s failure, the ideas were flawed, too. Shiv Malik explores the remarkable surge in the youth vote and says parties can no longer ignore their concerns. Also in this issue: Dexter Dias argues that to understand terrorism we need to better understand human nature, Paul Wallace looks at the state of the state and asks whether the government is capable of fulfilling large scale changes to the way the state works and Sam Tanenhaus profiles Mike Pence—should we be worried about him becoming the next president?
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