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Yanis Varoufakis - Crisis of the Eurozone

Yanis Varoufakis - Crisis of the Eurozone

(10:27) Former Greece finance minister Yanis Varoufakis explains how capitalism requires surplus recycling to be sustainable, and how that has failed in Europe.

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Guest: P.C. (893 days ago)

Varoufakis is very clever in playing the victim. Instead he should take blame for putting Greece in a terrible crisis. Greek politicians of the past 50 years have played their corrupt parts and now they want to make the rest of Europe (and the world) pay for their theft.

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Varoufakis is very clever in playing the victim. Instead he should take blame for putting Greece in a terrible crisis. Greek politicians of the past 50 years have played their corrupt parts and now they want to make the rest of Europe (and the world) pay for their theft.

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Guest: food for thought (892 days ago)
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The Greeks made a mess of their economy due to generous welfare systems and over inflated salaries, that is indisputable. But the Germans were riding on an artificially low exchange rate, exporting goods cheaply and patting themselves on the back about how well they are doing. Unfortunately it all has to balance in the end and the Germans act all surprised when the bill comes their way... The money that Germany gained from poor performing economies has to be recycled back to those economies.

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Original comment
Latest comment:

The Greeks made a mess of their economy due to generous welfare systems and over inflated salaries, that is indisputable. But the Germans were riding on an artificially low exchange rate, exporting goods cheaply and patting themselves on the back about how well they are doing. Unfortunately it all has to balance in the end and the Germans act all surprised when the bill comes their way... The money that Germany gained from poor performing economies has to be recycled back to those economies.

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Guest: noname (893 days ago)

He's arguing for fiscal union and subsidy system that exist in federal states. It's the right approach if eurozone is to survive and expand in future.

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He's arguing for fiscal union and subsidy system that exist in federal states. It's the right approach if eurozone is to survive and expand in future.

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