Welcome to the poisoned chalice : the destruction of Greece and the future of Europe / James K. Galbraith.

Includes bibliographical references (pages 201-213).

Part I: 2010-2014. Europe's crisis: thinking it through to the end -- Greece and the European project -- A question of moral responsibility -- Neither austerity nor growth: solidarity is Europe's only hope -- The victory of SYRIZA is not against American interests / with Yanis Varoufakis -- The United States and Europe: what is going on? -- Part II: 2015. The Greek hope -- A message to Sarah Raskin -- A comment on the way forward -- America must rally to Greece -- Reading the Greek deal correctly -- A great German Greek Grexit game? -- The political level -- A report from Athens -- Does Europe need debt relief? -- Long-term strategy through a realistic lens -- Strategic options -- A further message to Sarah Raskin -- The Greek drama and democracy in Europe -- Notes on the meeting, Varoufakis-Schäuble, June 8, 2015 -- What is reform? The strange case of Greece and Europe -- What can happen in the next days? -- Bad faith: the IMF and Europe on Greece -- Only the "no" can save the Euro -- Nine myths about the Greek referendum -- What is the mater with Europe? -- Exit made easy -- Greece, Europe, and the United States -- Plan B -- Statement on the Ministry of Finance working group -- A note to the editors at the Guardian -- Death spiral ahead? -- The future of Europe -- What the Greek memorandum means / with Daniel Munevar -- Back to square zero -- A final word: Madrid, October 21, 2015 -- Appendix: A summary of Plan X.

The economic crisis in Greece is a potential international disaster and one of the most extraordinary monetary and political dramas of our time. The financial woes of this relatively small European nation threaten the long-term viability of the Euro while exposing the flaws in the ideal of continental unity. Solutions proposed by Europe's combined leadership have sparked a war of prideful words and stubborn one-upmanship, and they are certain to fail, according to renowned economist James K. Galbraith, because they are designed for failure. It is this hypocrisy that prompted former finance minister Yanis Varoufakis, when Galbraith arrived in Athens as an adviser, to greet him with the words Welcome to the poisoned chalice. In this fascinating, insightful, and thought-provoking collection of essays-which includes letters and private memos to both American and Greek officials, as well as other previously unpublished material-Galbraith examines the crisis, its causes, its course, and its meaning, as well as the viability of the austerity program imposed on the Greek citizenry. It is a trenchant, deeply felt commentary on what the author calls economic policy as moral abomination, and an eye-opening analysis of a contemporary Greek tragedy much greater than the tiny economy of the nation itself.