Krystal Ball

And if Trump and JD Vance and Steve Witkoff and Jared Kushner

thought that the Iranians would just go, well, I guess Lebanon can continue to get decimated and Hezbollah destroyed, and we'll just look the other way.

I think we already see that that was a completely wrong calculation as evidenced by the fact, not only the rhetoric from the Iranians, which is one thing, but the fact that they went ahead and completely closed the Strait of Hormuz now where previously there was some tanker traffic going through.

Now the situation is actually worse.

Yesterday, there were zero oil tankers that went through the Strait of Hormuz based on the publicly available data.

Yeah, that's right.

For more on the state of the war or this quote-unquote ceasefire, we're fortunate to be joined this morning by Yanis Varoufakis.

He, of course, is the former finance minister of Greece and host of the Econoclast podcast.

Great to see you, sir.

Good to see you.

Yeah, of course.

So first, just your reaction to whatever is going on right now.

Do you think that it's possible we could secure some sort of a lasting peace here, or is this already fallen apart?

Well, and equally perhaps significant is the lack of involvement from Europe in securing at least this fragile ceasefire, whatever we're calling this thing right now.

China was obviously involved, Pakistan very much involved, Turkey reportedly, and Egypt somewhat involved.

But the main players are not in Western Europe.

Yanis, I want to get your perspective on how much the world has changed as a result of this war, whether it's right now they're able to come to an agreement or the Americans decide they want more pain before we come to some sort of an agreement to end this war.

I think we can see basically the outlines of what is going to emerge.

You're very likely to have

more or less the Iranian 10 points put into action, including a new status quo, a new reality around the Strait of Hormuz.