Yanis Varoufakis: Why we should all be wary of the euro

Politics, not economics, is the problem

clock • 5 min read

Economist and former Greek minister of finance Yanis Varoufakis offers a personal take on the euro - what's worked, what hasn't and why we all need to be wary

If you think the point of monetary union is to increase the interdependencies between our economies, trade and foreign direct investment, think again. The greatest success story in terms of meshing together economies applies to those such as Poland, Hungary, the Czech Republic and Germany - countries that do not share the euro. If you look at the relationship between the German, Portuguese, Italian and Greek economies, the incongruities and imbalances between us have been deteriorating from the first day we created the euro. Peter Navarro, the head of the National Trade Council of Pre...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Interest rate cuts expected after UK GDP edges up 0.1%

Interest rate cuts expected after UK GDP edges up 0.1%

Construction output lowest since 2021

Patrick Brusnahan
clock 12 February 2026 • 2 min read
Leaked Budget document viewed almost 25,000 times ahead of speech

Leaked Budget document viewed almost 25,000 times ahead of speech

Office for Budget Responsibility chair Richard Hughes quit as a result

Jenna Brown
clock 11 February 2026 • 2 min read
BoE's Andrew Bailey: World economy 'remarkably resilient' amid uncertainty

BoE's Andrew Bailey: World economy 'remarkably resilient' amid uncertainty

Markets now 'cautious'

Patrick Brusnahan
clock 09 February 2026 • 1 min read