Yanis Varoufakis: Angela Merkel has a red and a yellow button. One ends the crisis. Which does she push?

The Global Minotaur of neoliberal capitalism centred on Wall Street held the world to ransom from 1971 to 2008. Now Europe's surplus countries are trying to prop up its corpse

Bankruptocracy is as much a European predicament as it is an American "invention". The difference between the experience of the two continents is that at least Americans did not have to labour under the enormous design faults of the eurozone. Imagine their chagrin if the citizens of hard-hit states (eg Nevada or Ohio) had to worry about a death embrace between the debt of their state and the losses of the banks who happened to operate within the state.

Europe's architecture was not sound enough to sustain the shock waves from the death throes of neoliberal capitalism

The Minotaur's surplus recycling was essential to the maintenance of the eurozone's faulty edifice