Imagining a new Bretton Woods for post-meltdown world

John Maynard Keynes had a plan that was ahead of its time. A few updates and the global economy would be much healthier, writes Yanis Varoufakis

THE financial meltdown of 2008 prompted calls for a global financial system that curtails trade imbalances, moderates speculative capital flows, and prevents systemic contagion.

That, of course, was the goal of the original Bretton Woods system. But such a system today would be both untenable and undesirable. So, what might an alternative look like?