Trump’s Hormuz backlash & Hungary’s revolution illusion

In this episode of The Econoclasts, Yanis Varoufakis and Wolfgang Munchau dismantle the orthodoxies surrounding the Iran war and Hungarian election by arguing that Donald Trump’s "blockade of the blockade" in the Strait of Hormuz is less a repeat of the 1956 Suez crisis than a catalyst for a new electro-economy and a non-dollar financial architecture, while simultaneously warning that the landslide victory of Péter Magyar over Viktor Orbán is not the liberal restoration the West is celebrating, but rather the replacement of one right wing leader with a fresh face of the same illiberal nationalism.

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