He's saying what people don't want to hear. The EU as a "project" was always a half-assed United States of Europe, and unlike the United States which recognized its initial Articles of Confederation didn't work, the EU chugs on because any criticisms are LALALALALALA I CAN'T HEAR YOU. If you actually want a strong EU, you should take the criticism and maybe act on it.
The EU isn't a federal state. The notion to intertwine European economies to make countries dependent on each other and therefore make it less likely that they will fight each other has been a massive success. Resulting in the longest lasting peace in Europe's history. Only broken by Russia, a country strongly against European collaboration. Anything else the EU does besides this core function is just a bonus. If those other activities slow down then that's not the EU failing as long as the economic Union remains and since it's a massive success there is no sign that it won't.
@@Ronnet It sure makes laws like a federal state. Face facts, either the EU federalizes or it abandons its dumb parliament and courts. It faces the exact same issues the early US did, and is setting itself up for a major breakup for really no reason other than trying to please everyone and ending up pleasing nobody.
@@Ronnet That notion would have happened with or without the EU. Trade is good, and countries want to engage in trade anyway. That the EU claims this is purely due to their machinations is simply claiming a good that would have existed anyway.Peace exists in North and South America, peace exists in central and south east Asia, is that due to the EU? Also, the EU hasn't dissipated tensions between nations, merely governed them in a way that makes the tensions less obvious - they still remain, to deny this is wilful ignorance
Yanis U are wasting your valued breath. Those with eyes shall see and those with ears shall hear. People refuse to see danger even when U bring it to their door step
Nor do I. Starmer is a confirmed communist from the Haldane Society of lawyers. What does a hard-left lawyer know about market economics ? My vote is with Rishi Sunak.
Read many of the comments and I am shocked. Hate to ruin your dreams of EU perfection but he is right about so much especially economic models of Germany and France.
You are right. People are extremely uncomfortable hearing that their life of ease and luxury is under threat, but Europe needs to wake up, migrants are destroying it and there needs to be some sort of change to get Europe growing, thriving and proud again. The left has almost destroyed Europe.
@@alicianieto2822 Nope, in my country things are better and better... at least when it comes to things that aren't dependent on politicians, just like Varoufakis.
Europe is too diverse for a Federal European state. As we’ve seen when a few ideological elites try to force their idea of democracy and it has failed.
@@johnsagar1152 I think it's right that we reclaim that word in it's original sense. The left try to eradicate European diversity, and diversity within European countries, in an attempt to create a pretty much homogenous cultureless fake European identity.
You think China, Russia, India, US isn't diverse? Each nation has its own ethnic diversity, but Europeans once again continued are going back to tribalism and failing United to compete in the world .
It doesn't MATTER if you are in the EU or not. Your thoughts and your freedom of speech are controled by the USA and Washington anyways. Cause of the big tech censors that are all located in the USA as all these sites are American.
Try learning how a central bank works. Or how empires treat their peripheral county's or provinces. I'm sure like most so most so called leaders he is controlled opposition. As soon as he mentioned the propaganda buzzword " racist" it becomes clear he is either paid for by Russia/China or the EU/IMF
i mean he's ran both a national finances and was CFO of aa leading tech company Valve/Steam. his insight is going to be worth listening to. but like stand-up comedians if you listen to their stuff too much you see where they repeat things and its not as interesting.
Victim hood. Love the Greece people but they never moved on from the post war period and were to relaxed about everything.......tax collection for one.
Like has to sck when you can't just skip the paperwork and pocket the money without telling anyone... Still remember the old man in Greece that always sat at the hotel and kept an eye on the cash flow storing the extra gains in his pocket during the night :D Corona did huge damage to Greece when many places there are dependent on tourists, not talking about the huge fires that happened so they have had some bad luck the last years.
@@amadeuz819 And now there Tax system has rebounded to the far Right. The same Jeep that costs $158'000 in Greece I can buy for $95'000 here in New Zealand
I will copy paste from another comment of mine. Hi. I live in Greece. Things are not 100% like you wrote I'm afraid. They were collecting taxes. And government budgets were all balanced until the year 2008. No difference than any other country in Europe. And suddenly in late 2008, 2009, 2010, the government budgets became -10.2%, -15.2%, -11.4% of GDP respectively. Why? And why only in Greece? Still today I don't know. Theoretically, one can look into these years' government budgets published by the greek government. You can google "Greece government budget trading economics" and you can observe these things. But my point is that the greek government never had low taxes collectivity AND gave high pensions at the same time. Huge tax evasion did happen. But it happened in 2008, 2009, 2010 as far as I can remember. Not before that. And perhaps I know why. My suspicion is that, because in 2008, many financial scandals of greek politicians were published. So many people started to think "why should I keep paying my taxes, if no government uses them to improve life conditions in Greece?".So my point is: who caused this deliberately made crisis? My answer: greek politicians.
@@tomorrowneverdies567 Question I have is regarding Technology? Prior to 2008 had the Greece Government implemented new technologies to make things easier for the Greek people. Here in New Zealand from the Mid 1980's people were using electronic cards on a daily bases to buy a bottle of milk at the corner store. We started to simplify bureaucracy and cut a lot of red tape so it became very easy to do a lot of transactions......such as paying Taxes. Buying property with an integrated property data base......the list goes on. Did the many islands in Greece that rely on tourism stop using so much Cash and start electronic transfer way before 2008?
@@mattgordon9179 No. Sorry, but I didn't quite understand your point. You mean that not using electronic payment means, means high tax evasion, and that therefore, if Greece deployed electronic payment widely in 2008, nothing bad would have happened?
"The EU has failed" and yet every European country is trying to get into it. This guy cannot accept that Greece was a basket case and expected Germany to bail it out on a permanent basis. They were just not collecting taxes and yet paying out generous pensions.
Didn't he want someone else to run the Greek Central Bank until everything was well and then give it back? And wondered why his wheeze got no traction at all .
He is saying the EU as an institution is failing to function properly on multiple levels. It has it's benefits, but it has been unresponsive and meandering in crisis after crisis. The EU is still fundamentally a weak body. And reform within the EU needs to be considered. It needs more power, and more ability to act. For a historical parallel to consider - the US was first founded on the Articles of Confederation - with an extremely weak central goverment. This didn't work as we were wracked with crisis and instability in the first decade of the countries history , so we wrote a constitution that gave the federal explicit powers - but constrained by enumerated state powers.
But if the EU was meant to develop a powerful Europe that did not need to rely on the US, as de Gaulle wanted, then it is a failure. Europe isn't capable of defending itself without the US. And Europe has failed to produce growth and innovation like the US, where is the European Silicon Valley? And the UK just left the EU, it went the other way. Whatever you think of Brexit, the EU's inability to keep a nation inside was a failure. And now you have alt right movements taking power in Europe that may not want to leave the EU but they may change the EU so much that it becomes unrecognisable compared to the "European dream" of open borders, liberal values etc...
They need to try to blame someone because I would also be angry if I would loose my income because I couldn't collect the pensions of an dead family member. Then for real, they are very tourist dependent so Corona did a number on them. The climate starting to change also in southern Europe has caused massive problems for them. Then take the war and EU has started to fix the holes in the "sanction net" Greece probably feeling a pinch from that too. Like when things get tough you can either point your finger and blame someone else for your problems or you adapt and fix the problems. He seems to be one that like to point the finger and sit on his behind.
Whenever I feel slightly positive, I come to Yanis on TH-cam and I spit negativity out of every hole in my body. It's fantastic and helps much against persistent constipation. Continental europe will be fine though, it has been through a lot of the centuries and has always survived. It has culture and ideology to fall back on: working hard for money to stay alive.
10 years ago the EU should have let Greece leave the eurozone and bankrupt. Under the wise rule of this guy as a financial minister. Instead they saved Greece.
They did not save Greece but the German banks which gave the loans to Greece. If Greece would go bankrupt than the German banks would collapse. The rescue was not for Greece but for Germany.
Germany and France the dynamic duo of the EU. Everything is and has been manipulated by those two for their own benefit and prosperity. Imposing draconian economic and social measures to the other members but not applicable to them. Imposing high interest to other EU members at their convenience while they "prospered" and bragged of their unique and special exceptions.
Greeks retired at 55. The Greeks didn't,t pay taxes the country went bankrupt, He was the finance minister when Greece went belly up. And he wants to give advice.
He was over ruled by his govt - to simply default and use local Drachma internally. Tsipraps cowardly folded and accepted EU conditions of ...bankruptcy. Then he quit. He was right. The cowards "won"...
@@johncale1849 when this happened i was led to believe that he was a big part of why greece failed. it almost seems that the EU knew that he would be dangerous to their idea of democracy if he would get to be more popular.
@@MrMelonMonkey He came in after the crisis hit - he didnt stand a chance. Also his PM did not back him so he ended up resigning. We have no idea if his policies would have worked - they were not tried.
Don't get me wrong..I am pained about the restrictions placed on Greece..and they were necessary...but I think there are now signs of hope in local people creating good olive oil and marketing it..Greece has a very hard stretch still ahead...but I hope Greece recovers and gets as strong as can be again! The pain for the population...bad. But I see n other way?
I am greek, and definitely not a supporter of his. But I wonder why you believe he placed the grave stone on the greek economy. The man did not increase government indebtment, or harm the economy in any way I can see. GDP and GDP per capita when he left were the same as when he entered office.
It's kind of strange how he clung to the EU project, especially after what the EU did to his own country(Greece), what with imposing those very harsh economic conditions on it.
@@alphabetaxenonzzzcat The EU didn't. This is a common misconception. The countries in the euro did this, but they only represent two thirds of the EU and even include states not in the EU. Countries like the UK or Poland etc. have their own currencies and so weren't involved in the measures imposed. I have some sympathy with the people of Greece, but much less with their government who misrepresented their economic position when they joined the euro and ran huge budget deficits whilst making little effort to sort out the issues.
Hearing normal people dismissed as "xenophobic, racist, ultra-right" feels very 2016 and just shows how the political class still haven't listened to a word we are saying.
Reminds me of what Marc Twain said. "THE RUMOURS OF MY DEMISE ARE EXAGERATED". Easy to say Europe is dead. My friends are always predicting the end of the financial world but even broken clocks tell the right time twice a day.
@@afritimm you think its bad now..just wait till they rush through Ukraine's membership in the middle of a war and the other nations have to deal with that hot financial mess dropped in their lap...
SOME PEOPLE DOESN T LIKE THAT EU WILL NOT THEM STEAL THEIR COUNTRY. HE SAYS CHINA IS DOING BETTER YES AND ON WHICH NUMBERS CAUSE ANY IDIOT KNOWS CHINA HIDE ITS DEBT THAT IS IN TRILLIONS.
@@MarKeMu125 yes it is 100% his fault and his fault only. Greek economy is doing very well now and guess what? The recovery started the day he got booted out of politics.
Greece came into the EU because France insisted. And in a certain way they were right. It's the cradle of our democracy. Nevertheless, through the ages there was less and less of this original Greece left. So since they joined the EU it has always been a bit difficult to keep up with the rest of the EU, mainly because they have the same problem as Ukraine and Russia, in a smaller amount, but the absence of a well organized tax collecting system and a institutionalized "friends" corruptive system and mayor orthodox influence is keeping it's economic development lagging. Hiding mayor financial debacles is damaging the trustworthiness of its government and institutions. Instead of fixing these problems, Yanis is opting for spreading Greece's problems over the EU as a whole. I don't think that's a good idea. Helping Greece by standing firm for good economic practice and helping them to improve these flaws are giving better results in my opinion. Although I do agree that we need EU synchronization in civil, penal and tax laws and a EU defense force, EU financial policy and foreign policy. And we need to help Greece financially when it's really necessary, after all we are a union.
They came in with the help of American banks that gave money and fudged the numbers..then Greece expected to get money without any changes imposed to go on-spending the money of Europe as a whole for the time being to not anger the Greek populace. And he is allowed to speak on the BBC and is taken serious?
It was a complete mishandling of finances in Greece why they've so much troubles now. They gave out state bonds like candy to children, Yanis Varoufakis blames everybody but his own government. The Greek government entering the EU also lied about there debt and Yanis Varoufakis blamed it on the Germans and the ECB.
I I believe Yanis is right, unfortunately! Over the past few months I' ve heard him and I 've found his ideas true and realistic. Yanis I hope you are doing well and look forward to your next video 😍
@@45wasright43 you commented a total of like 3 times in this comment section, seems like you are the nobody on TH-cam who has never achieved anything, quite embarrassing I might say that between these 3 comments you only have 1 like sounds like a bit of cope🪦
He was right about the outcomes of a cynical new Labour government. It didn't take them two minutes to disappoint much of the population, and the beneficiaries of that disillusionment have indeed been the Reform and conservative Parties. The idea of a Reform/Conservative pact of some kind isn't that far fetched either.
The UK forming the EU was not democratic. There was no referendum, no mention in any manifesto, and no consultation with the public whatsoever. Leaving the EU was democracy in action, regardless of the whinging from remoaners now entering it's 9th year.
@@storm21410You can also look at Biden and Netanyahu aligning on the Palestinians. Again, the centre should not be so arrogant, it has constant far right overlap.
@@cristiangaban960 who's proposing that? Unless you're a multimillionaire there's no chance you'll be restricted from what you have now? They want to increase public transport and more public services, like Clement Attlee did to help the 1950's boom, but that's adding options not limiting them?
It's democratic principle, man! Kremlin propaganda that Europe is dying can be overthrown by opposing facts! But what I hear is just talk, talk of self-elected, not-elected commissioners! EU buerocracy looks like Soviet Politburo!
6:10 From introduction of euro only two countries profited namely Germany and Netherlands so it is ridiculous that the Greek guy is sorry that there was not enough further centralisation.
Oh FFS Varoufakis, you mix exceptional awareness with eternal bitterness and as usual you're right on everything except the moral and conclusion. Europe, as a project, isn't finished; but it is in serious trouble from fine intentions and imbecilic greed and for the sake of all that is good, requires and deserves support. And yet you'd rather not suggest anything more than more complaints. Oh, and the interest in Corbyn - well, you speak of conviction as if it's the leader's minuscule feelings that matter. They don't, more than the feelings of the captain of the ship. What does he think of the destination? Who cares. What matters is the people get there safely. Or looking at Corbyn's time, not at all.
He is pro-Hamas. Being pro-russian is the least. He also is anti-democrat, anti-europe, anti-west, anti-american, anti-free market, anti-logic. And he is anti-greec in most aspects. And he is NOT POPULAR in Greece: he did not make in in the last two elections; he is irrelevant; why do you pay him any attention?
@@bishimixes9871 Of course-how can you expect to be paid back for the loans you gave out? That were sold to pension funds ? did anybody force Greece to fudge the books, and lie to the EU? So who is to be blamed?
I will copy paste from another comment of mine. I am greek, and definitely not a supporter of his. But I wonder why you believe he "finished Greece". You would see greek businesses relocating to Cyprus, Bulgaria or Romania also if aliens Turkey invaded Greece, or if a meteor hit Greece. But it would not be the fault of the greek finance minister then, would it? Or was it Varoufakis who (deliberately) indebted Greece, (deliberately) reduced its competitiveness with high taxation, too much public employees and their salaries (pyed by greek taxpayers and even worse the loans taken from french, british and german banks)? Varoufakis simply told the lenders of Greece "I do not accept to pay you 5% of Greece's GDP per year, because this means that GDP will decrease, Greece will become even poorer, population would reduce drastically, and so on". And they (after they co-created our debt with greek politicians, who belong to the same secret organization with them) told him "No". And he told them back : "No". So they stoped giving banknotes to greek banks. So greek banks then run out of cash, also because many people were afraid that they would lose their savings, because they were influenced by the "News Media" (so "reporters and journalists" who are also members of the same secret organization with the politicians), and went to withdraw a lot of money. So as you can see, you can disagree (and I personally disagree) very much with Mr. Varoufakis (as he is also a liar and a member of the exact same organization ). But you cannot debit him that he "finished Greece", based on my comment. I am 31 btw, and I have spent the last 10 years of my life trying to decipher whose fault is/was what in this story, and my comment is the conclusion I have arrived at. Personally, I do not care about any of these things, and I believe that final economic performance is not the product of the free economic activity of people, but it is regulated by this organization. If you don't believe me, wait until one of the countries in Europe or North America sees its fertility rate increasing for 3-4-6 years in a row, and see what "happens" to them They will create another "economic" crisis to reduce it again. They do it to every country. Even countries like Sweden, Iceland, the UK, France, USA. Except Israel it seems. And at the same time "our economy needs more immigr. from Africa and Asia". Looks like they want this population replacement to happen!
I'm not a fan of the EU but someone must believe that they're getting some benefit from it -- because they pay billions into it. As the Scottish economist Adam Smith said, "There's much ruin in a nation." (That is, a nation can survive many setbacks.)
Europe has been a battle ground for thousands of years. Then the EU and its predecessors came and we've had an historically long time of peace. Only broken by a country that is known for hating collaboration among European nations. The European project had been extremely successful on its core function; connecting European economies so that European nations have no incentive to go to war, in fact they are incentived to collaborate more fiercely which has seen many positive outcomes.
Everyone seems so smug about these prophesies of doom about Europe, the self-satisfied smiles and smirks from people leading enviable lives in the same Europe which they are trashing, are quite nauseating. That is what leads one to believe that these prophets of doom are not being honest with themselves. If they really believed in what they said their tone would be very different
You should distinguish the EU as an institution from its constituent countries. Each country has great and unique value, the EU has an entirely different value proposition
I like Yanis. He is authentic. I disagree that the EU has failed as a whole. It was big ask to expect all of Europe to come together as a sort of USE with so much cultural diversity. The EU single market, however, is a triumph and one we will sorely miss. I don't understand the hate he get's here but then this is Times Radio and, well, err, bless.
But if "the EU is finished", what happens to Yanis's DIEM25 movement? I've always thought DIEM25 would fail "to fix the EU" from within it. Break it up again into sovereign states -- autonomy with individual trade links.
The guy who almost finished Greece! The year he was in goverment all of my clients from Greece moved their HQ to Cyprus, Romania or Bulgaria. Big companies moved their HQ to Switzlerland, Luxembourg or the Netherlands.
I am greek, and definitely not a supporter of his. But I wonder why you believe he "finished Greece". You would see greek businesses relocating to Cyprus, Bulgaria or Romania also if aliens Turkey invaded Greece, or if a meteor hit Greece. But it would not be the fault of the greek finance minister then, would it? Or was it Varoufakis who (deliberately) indebted Greece, (deliberately) reduced its competitiveness with high taxation, too much public employees and their salaries (pyed by greek taxpayers and even worse the loans taken from french, british and german banks)? Varoufakis simply told the lenders of Greece "I do not accept to pay you 5% of Greece's GDP per year, because this means that GDP will decrease, Greece will become even poorer, population would reduce drastically, and so on". And they (after they co-created our debt with greek politicians, who belong to the same secret organization with them) told him "No". And he told them back : "No". So they stoped giving banknotes to greek banks. So greek banks then run out of cash, also because many people were afraid that they would lose their savings, because they were influenced by the "News Media" (so "reporters and journalists" who are also members of the same secret organization with the politicians), and went to withdraw a lot of money. So as you can see, you can disagree (and I personally disagree) very much with Mr. Varoufakis (as he is also a liar and a member of the exact same organization 😁). But you cannot debit him that he "finished Greece", based on my comment. I am 31 btw, and I have spent the last 10 years of my life trying to decipher whose fault is/was what in this story, and my comment is the conclusion I have arrived at. Personally, I do not care about any of these things, and I believe that final economic performance is not the product of the free economic activity of people, but it is regulated by this organization. If you don't believe me, wait until one of the countries in Europe or North America sees its fertility rate increasing for 3-4-6 years in a row, and see what "happens" to them😁 They will create another "economic" crisis to reduce it again. They do it to every country. Even countries like Sweden, Iceland, the UK, France, USA. Except Israel it seems. And at the same time "our economy needs more immigr. from Africa and Asia". Looks like they want this population replacement to happen!
@@delusion2987 could you please explain to me why western economies need immigrants? Why do you need immigrants once the fertility rate drops below 2.1 exactly? Iceland has 300k inhabitants. But it has higher GDP per capita than Germany, which has 84 million inhabitants. So my question to you is: why do you believe that population must be at least constant in time, for GDP and/or GDP per capita to also remain constant in time? My personal answer: you don't need it. Germany can simply lose population, while its GDP and GDP per capita could increase, due to other factors such as automation and other optimizations. Also, I never claimed that the replacement is "insidious".
I will copy paste from another comment of mine. I am greek, and definitely not a supporter of his. But I wonder why you believe he "finished Greece". You would see greek businesses relocating to Cyprus, Bulgaria or Romania also if aliens Turkey invaded Greece, or if a meteor hit Greece. But it would not be the fault of the greek finance minister then, would it? Or was it Varoufakis who (deliberately) indebted Greece, (deliberately) reduced its competitiveness with high taxation, too much public employees and their salaries (pyed by greek taxpayers and even worse the loans taken from french, british and german banks)? Varoufakis simply told the lenders of Greece "I do not accept to pay you 5% of Greece's GDP per year, because this means that GDP will decrease, Greece will become even poorer, population would reduce drastically, and so on". And they (after they co-created our debt with greek politicians, who belong to the same secret organization with them) told him "No". And he told them back : "No". So they stoped giving banknotes to greek banks. So greek banks then run out of cash, also because many people were afraid that they would lose their savings, because they were influenced by the "News Media" (so "reporters and journalists" who are also members of the same secret organization with the politicians), and went to withdraw a lot of money. So as you can see, you can disagree (and I personally disagree) very much with Mr. Varoufakis (as he is also a liar and a member of the exact same organization ). But you cannot debit him that he "finished Greece", based on my comment. I am 31 btw, and I have spent the last 10 years of my life trying to decipher whose fault is/was what in this story, and my comment is the conclusion I have arrived at. Personally, I do not care about any of these things, and I believe that final economic performance is not the product of the free economic activity of people, but it is regulated by this organization. If you don't believe me, wait until one of the countries in Europe or North America sees its fertility rate increasing for 3-4-6 years in a row, and see what "happens" to them They will create another "economic" crisis to reduce it again. They do it to every country. Even countries like Sweden, Iceland, the UK, France, USA. Except Israel it seems. And at the same time "our economy needs more immigr. from Africa and Asia". Looks like they want this population replacement to happen!
@@WatermelonCat-yc4bq I totally agree with what is written here. Capitalism will function and be fair in creating and even balanced, economic growth, if the governments and Banks are in tendon.
Yanis Varoufakis goes on about deindustrialisation but he supports things such as Net Zero and Green New Deal.That's why , Europe has given up on making anything
Varoufakis is a dweeb but bet zero and green new deal are not to blame for Europes economic problems. China is going gangbusters with solar, batteries, EVs and other alternative energy tech. Europe's problem is a lack of focus on science and tech. A secondary problem is many Europeans tend to distrust big corporations which are absolutely necessary if one wants to compete on global stage due to economies of scale.
Speaking here from Los Angeles. I like several of the concepts he discusses, and wish these would be included in the general conversations in the US. First is the friction forces that prevent efficient use of capitol. Here for example, the infrastructure spending has been inefficient - wasting a great opportunity in advance semiconductor manufacturing. Friction created by the DEI mandates, workforces lacking skills due to misplaced higher education are hampering progress. Next the center collapse that is fundamentally caused by poor governance, leading to far right and far left forces gaining strength because government does not deliver for average people and they have nowhere to turn.
In a way the Greek people were never in the European empire because the ' people' never payed taxes to the government. But also, the Greek economy was working best when it had its own currency that was devalued appropriately to live in a low inflationary, tourist revenue based economy. Trust Frabce to fruck things up for the Greeks. The greatest irony is that the greeks had a wealthier culture before the union.
Most Greeks, like most Southeast Europeans, are very, very bad at politics and economics. They are a politically immature society. More ruled by emotions and pride than reason or logic. Yanis is an exception.
We all know the EU has challenges, some wise heads are needed to steer it through the next few years, we can't deny that, but I doubt that it is finished unless it cannot adapt and Im sure the EU will adapt. I think the biggest issue has been and is the lack of listening to Europeans concerns over migration, that has been a major failure.
Didn't Mr V try trickery in accounting for Greece's finances to the EU while he was finance minister of Greece during the 2008 crisis? Has Greece done well economically in the years since?
Better than before. They don't want to pay taxes, though, and some measures seem a bit harsh. But they spent like crazy before, and now have to atone for that. Just not the same people that wasted the money.
The british again saw this well before anyone else , so we can at least be proud of our foresight , yes the wef and big business runs europe we all see this
Perhaps Yanis could address the illegal migrant crisis, and why Britain should be the ‘safe refuge’ of choice when we are not even in the EU any longer, (partly due to their mishandling of illegal migrant policy)? Obliging Ireland to rehome them does not appear to be working too well.
Perhaps you could check your facts on Britain being the safe refuge of choice for illegal migrants. Most of them are happy to get away from their war torn, asset stripped countries (by the west), to some sort of hope for the future. If they have family here or speak a little English that may make Britain more desirable obviously.
The problem with a common bank is that each country is not having the same credit rating. Who will ultimately pay the debt if they already have big debts? Greece was a warning already of mismanagement that goverment were not up to the task of fixing the budget.
@@michelleleon8802 Have you studied, demographic voting analysis ? The USA. The majority of people of colour vote Democrat. Did you not listen to Joe Biden, when on the previous Presidential Election Campaign ? "You ain't black if you don't vote Democrat"
You think you're so hot? You couldn't hold a tiny fraction of the thought capacity of such a man. Integrity? He has it. Not right wingers Why don't you take on the Troika? Because you are their paid pet.
Some people commenting in here don't seem to know that he was NOT the minister when Greece went bust. The huge mess was created by others. He was later appointed to try and fix it.
As long as Germany remember that the EURO is really the Deutetch march and it understands what the MMT movement is saying all will be well if austerity is not used.
@@ΗλίαςΠαπαδάτος-χ3ξ I can see why you would object to that, but he was probably right. To give up your powers as a nation is to lose independence, and then be at the mercy of people who, very likely, do not have your country's interests at the forefront of their mind.
@@ΗλίαςΠαπαδάτος-χ3ξ So basically in the opposite poll than Farage in terms of political view and he did gaslight his nation to do something that they later regreted. Otherwise yes. He is like Farage.
Greece was absolutely broke in 2007. I remember driving across it and there were people selling themselves then. It was tragic.Adverts on traffic lights and phone boxes. Terrible 😔
Why is this no mark in our country?? Who gives a damn what he thinks. He has failed at everything he does. Go away. You are not wanted and not listened to.
For the first time since I first came in 1992 I saw beggars in the small German market town Kleve this week. Not foreigners but Germans, young and old. I hate to say it, but he might be right.
The Great Financial Crisis exposed the folly of the individual European Governments. It lead to the European Sovereign Debt Crisis. Deficit spending is the largest misappropriation in economics. And Greece was the worst perpetrator in Europe. Germany setup the rules for the Euro Union; trying to hold other countries to some sort of fiscal discipline by limiting annual deficit spending to 3 per cent the countries' GDP. Greece ignored this limit and went off-book until they couldn't make the interest payments. Interesting that this Greek politician is complaining about the Euro Union setup. The European Soveriegn Debt Crisis was ,or should have been, a wake up call. But the politicians papered it over (and put it off until later). Somebody has to payback the deficit (debt). Would you like to start now, or would rather do it later (when the cost will be higher)?
Where are all those wars and where is all that virulent political instability in the EU countries? People on top milking the system is business as usual, no news at all. So …Thank you Yannis for your analysis, to my own Analysis the glass is still more than half full, which isn’t too bad at all for average EU country’s citizens.
We entered the EEC in 1973 and two years later the British people were asked to confirm or reject that decision. There was a massive majority in favour of continued membership. Already the tide has turned and the majority of British people feel it was a mistake to leave and are in favour of rejoining.
@@ysteinfjr7529 And why would that be? What has the UK to offer to let it back in? Why would the EU suspend Article 49 and Copenhagn criteria for the UK? No reason at all. You can apply, but we will decide. And until you are fit to join, you sit on the naughty steps. And boy is the UK unfit to join-just the debt to GDP to be allowed in has to be halved. You think the UK can do it n a shrinking economy? No more opt outs, no more waivers. We have seen to what kinds of delusions that lead. Our way or the highway by now.
@@Tridhos That vote was based upon a set of guarantees about the sovereignty of the UK made by the Wilson government and claims about economic advantage. Nearly all the guarantees were subsequently broken, without any electoral mandate. The document is still available online.
He speaks a lot of sense, This guy. If he was not Greek he would be respected and listened to more.
Altough the Ukraine war is full of pretences, some of the outcomes might lead to a central bank.... Am I right?
lol cruelty for brown people "The great replacement theory" give me a break
No he doesn't. He's a big gov statist.
yes when were the Greeks listened too or seen as great thinkers ..... oh wait.... what an imb1cile lol
Lol. He is a poser. He creates a problem then pretends he's the solution
He's saying what people don't want to hear. The EU as a "project" was always a half-assed United States of Europe, and unlike the United States which recognized its initial Articles of Confederation didn't work, the EU chugs on because any criticisms are LALALALALALA I CAN'T HEAR YOU. If you actually want a strong EU, you should take the criticism and maybe act on it.
The EU isn't a federal state. The notion to intertwine European economies to make countries dependent on each other and therefore make it less likely that they will fight each other has been a massive success. Resulting in the longest lasting peace in Europe's history. Only broken by Russia, a country strongly against European collaboration. Anything else the EU does besides this core function is just a bonus. If those other activities slow down then that's not the EU failing as long as the economic Union remains and since it's a massive success there is no sign that it won't.
@@Ronnet It sure makes laws like a federal state. Face facts, either the EU federalizes or it abandons its dumb parliament and courts. It faces the exact same issues the early US did, and is setting itself up for a major breakup for really no reason other than trying to please everyone and ending up pleasing nobody.
@@Ronnet That notion would have happened with or without the EU. Trade is good, and countries want to engage in trade anyway. That the EU claims this is purely due to their machinations is simply claiming a good that would have existed anyway.Peace exists in North and South America, peace exists in central and south east Asia, is that due to the EU? Also, the EU hasn't dissipated tensions between nations, merely governed them in a way that makes the tensions less obvious - they still remain, to deny this is wilful ignorance
True, but don't go "full Karen"
Yanis U are wasting your valued breath. Those with eyes shall see and those with ears shall hear. People refuse to see danger even when U bring it to their door step
Valued???
The Greeks were terribly treated by the French and Germans.
Scapegoats for the failure of the US stock market 2008.
The greeks had an unaffordable and bloated public service..
Sry. My experience with Greeks and money that isn’t theirs…😂
The Greeks were treated terribly by "Yanis" Varoufakis.
@@marky1974 Evidence?
"I don't harbour great expectations for the Starmer government."
🤣😭
Nor do I. Starmer is a confirmed communist from the Haldane Society of lawyers. What does a hard-left lawyer know about market economics ? My vote is with Rishi Sunak.
Read many of the comments and I am shocked. Hate to ruin your dreams of EU perfection but he is right about so much especially economic models of Germany and France.
You are right. People are extremely uncomfortable hearing that their life of ease and luxury is under threat, but Europe needs to wake up, migrants are destroying it and there needs to be some sort of change to get Europe growing, thriving and proud again. The left has almost destroyed Europe.
He's a bullshitter who doesn't even have a consistent message. The Left is always a sucker for charismatic types.
Most people dont know How to read in the first place, thats why
Keep talking Yanis, you'll find it more difficult to change the world than it is to change Greece.
Says the barbarian eating his dead neighbor
lol cruelty for brown people "The great replacement theory" give me a break
He’s been saying this for at least 10 years. 😂
Idk for you, but for my generation things have been looking the same or worse for those 10 years
How refreshing to see others acknowledge his incompetence.
@@alicianieto2822 Nope, in my country things are better and better... at least when it comes to things that aren't dependent on politicians, just like Varoufakis.
@@Bayard1503what is better in your country and who is your country's primary trading partner?
lol cruelty for brown people "The great replacement theory" give me a break
Europe is too diverse for a Federal European state. As we’ve seen when a few ideological elites try to force their idea of democracy and it has failed.
Please stop using that over used word diverse,widen your vocabulary 😅
They try to force elitist leftist progressivism on the whole continent and it makes people move away from them.
@@johnsagar1152 I think it's right that we reclaim that word in it's original sense. The left try to eradicate European diversity, and diversity within European countries, in an attempt to create a pretty much homogenous cultureless fake European identity.
You think China, Russia, India, US isn't diverse? Each nation has its own ethnic diversity, but Europeans once again continued are going back to tribalism and failing United to compete in the world .
I disagree, we are not more different that a Texan and someone fron California.
Most Europeans don’t want to be governed by a superstate from Brussels. Common debts and taxation from Brussels would be horrible.
Its already happening. Are you living under a rock?
@@Derederi since Brexit, how so?
It doesn't MATTER if you are in the EU or not. Your thoughts and your freedom of speech are controled by the USA and Washington anyways. Cause of the big tech censors that are all located in the USA as all these sites are American.
Austerity for Greece.
Free Money for Italy, Spain & the rest.
The Trojka in Bryssel totally ruined Greece forever.
I used to like him but hes just, a pay-for-waffle at this stage. Completely irrelevant.
Try learning how a central bank works. Or how empires treat their peripheral county's or provinces. I'm sure like most so most so called leaders he is controlled opposition. As soon as he mentioned the propaganda buzzword " racist" it becomes clear he is either paid for by Russia/China or the EU/IMF
@@TheSubpremeState
And what makes you assume you know me or anything about me. 🙄
was just about to say, i used to at least respect him, but now he's just a muh ray sisms dey just hates da br0wn peoples
i mean he's ran both a national finances and was CFO of aa leading tech company Valve/Steam. his insight is going to be worth listening to. but like stand-up comedians if you listen to their stuff too much you see where they repeat things and its not as interesting.
what made you realise this?
Victim hood. Love the Greece people but they never moved on from the post war period and were to relaxed about everything.......tax collection for one.
Like has to sck when you can't just skip the paperwork and pocket the money without telling anyone... Still remember the old man in Greece that always sat at the hotel and kept an eye on the cash flow storing the extra gains in his pocket during the night :D
Corona did huge damage to Greece when many places there are dependent on tourists, not talking about the huge fires that happened so they have had some bad luck the last years.
@@amadeuz819 And now there Tax system has rebounded to the far Right. The same Jeep that costs $158'000 in Greece I can buy for $95'000 here in New Zealand
I will copy paste from another comment of mine.
Hi. I live in Greece. Things are not 100% like you wrote I'm afraid. They were collecting taxes. And government budgets were all balanced until the year 2008. No difference than any other country in Europe. And suddenly in late 2008, 2009, 2010, the government budgets became -10.2%, -15.2%, -11.4% of GDP respectively. Why? And why only in Greece? Still today I don't know. Theoretically, one can look into these years' government budgets published by the greek government. You can google "Greece government budget trading economics" and you can observe these things. But my point is that the greek government never had low taxes collectivity AND gave high pensions at the same time. Huge tax evasion did happen. But it happened in 2008, 2009, 2010 as far as I can remember. Not before that. And perhaps I know why. My suspicion is that, because in 2008, many financial scandals of greek politicians were published. So many people started to think "why should I keep paying my taxes, if no government uses them to improve life conditions in Greece?".So my point is: who caused this deliberately made crisis? My answer: greek politicians.
@@tomorrowneverdies567 Question I have is regarding Technology? Prior to 2008 had the Greece Government implemented new technologies to make things easier for the Greek people. Here in New Zealand from the Mid 1980's people were using electronic cards on a daily bases to buy a bottle of milk at the corner store. We started to simplify bureaucracy and cut a lot of red tape so it became very easy to do a lot of transactions......such as paying Taxes. Buying property with an integrated property data base......the list goes on.
Did the many islands in Greece that rely on tourism stop using so much Cash and start electronic transfer way before 2008?
@@mattgordon9179 No. Sorry, but I didn't quite understand your point. You mean that not using electronic payment means, means high tax evasion, and that therefore, if Greece deployed electronic payment widely in 2008, nothing bad would have happened?
"The EU has failed" and yet every European country is trying to get into it. This guy cannot accept that Greece was a basket case and expected Germany to bail it out on a permanent basis. They were just not collecting taxes and yet paying out generous pensions.
Didn't he want someone else to run the Greek Central Bank until everything was well and then give it back? And wondered why his wheeze got no traction at all .
He is saying the EU as an institution is failing to function properly on multiple levels. It has it's benefits, but it has been unresponsive and meandering in crisis after crisis. The EU is still fundamentally a weak body.
And reform within the EU needs to be considered. It needs more power, and more ability to act. For a historical parallel to consider - the US was first founded on the Articles of Confederation - with an extremely weak central goverment. This didn't work as we were wracked with crisis and instability in the first decade of the countries history , so we wrote a constitution that gave the federal explicit powers - but constrained by enumerated state powers.
@@swordarmstudios6052the EU failed, let’s give it more power! 😮
But if the EU was meant to develop a powerful Europe that did not need to rely on the US, as de Gaulle wanted, then it is a failure. Europe isn't capable of defending itself without the US. And Europe has failed to produce growth and innovation like the US, where is the European Silicon Valley? And the UK just left the EU, it went the other way. Whatever you think of Brexit, the EU's inability to keep a nation inside was a failure. And now you have alt right movements taking power in Europe that may not want to leave the EU but they may change the EU so much that it becomes unrecognisable compared to the "European dream" of open borders, liberal values etc...
They need to try to blame someone because I would also be angry if I would loose my income because I couldn't collect the pensions of an dead family member.
Then for real, they are very tourist dependent so Corona did a number on them. The climate starting to change also in southern Europe has caused massive problems for them. Then take the war and EU has started to fix the holes in the "sanction net" Greece probably feeling a pinch from that too. Like when things get tough you can either point your finger and blame someone else for your problems or you adapt and fix the problems. He seems to be one that like to point the finger and sit on his behind.
Whenever I feel slightly positive, I come to Yanis on TH-cam and I spit negativity out of every hole in my body. It's fantastic and helps much against persistent constipation. Continental europe will be fine though, it has been through a lot of the centuries and has always survived. It has culture and ideology to fall back on: working hard for money to stay alive.
10 years ago the EU should have let Greece leave the eurozone and bankrupt.
Under the wise rule of this guy as a financial minister.
Instead they saved Greece.
Saved Greece??? 😂😂😂
They did that. But the greek governments refused.
They did not save Greece but the German banks which gave the loans to Greece. If Greece would go bankrupt than the German banks would collapse. The rescue was not for Greece but for Germany.
Germany and France the dynamic duo of the EU. Everything is and has been manipulated by those two for their own benefit and prosperity. Imposing draconian economic and social measures to the other members but not applicable to them. Imposing high interest to other EU members at their convenience while they "prospered" and bragged of their unique and special exceptions.
Greece looks like a saved country to you?
Greeks retired at 55. The Greeks didn't,t pay taxes the country went bankrupt, He was the finance minister when Greece went belly up. And he wants to give advice.
He was finance minister afterwards - get your facts right
He was over ruled by his govt - to simply default and use local Drachma internally. Tsipraps cowardly folded and accepted EU conditions of ...bankruptcy. Then he quit. He was right. The cowards "won"...
@@johncale1849 when this happened i was led to believe that he was a big part of why greece failed. it almost seems that the EU knew that he would be dangerous to their idea of democracy if he would get to be more popular.
Exactly!!!
And on top of that he pretends like he is left. His wife is billionaire heiress
@@MrMelonMonkey He came in after the crisis hit - he didnt stand a chance. Also his PM did not back him so he ended up resigning. We have no idea if his policies would have worked - they were not tried.
I'm Greek. He says these nonsense since 2011-2012 😂😂😂. The man who placed the grave stone 🪨 on Greek economy in 2014-2015.
Don't get me wrong..I am pained about the restrictions placed on Greece..and they were necessary...but I think there are now signs of hope in local people creating good olive oil and marketing it..Greece has a very hard stretch still ahead...but I hope Greece recovers and gets as strong as can be again! The pain for the population...bad. But I see n other way?
Being greek doesn't make your opinion matter more. I mean you probably vote for mitsotakis so...
Πέστα μεγάλε γιατί στην Αγγλία δεν ξέρουν τι τους γίνεται
I am greek, and definitely not a supporter of his. But I wonder why you believe he placed the grave stone on the greek economy. The man did not increase government indebtment, or harm the economy in any way I can see. GDP and GDP per capita when he left were the same as when he entered office.
@@tomorrowneverdies567 ...αγάπη μου έκλεισα τις τράπεζες...
He's a bit bitter, isn't he?
Yup. That’s him !!!
This perfectly explains why the uk electorate repeatedly votes against their own interest...
No he's not. He's realistic.
It's kind of strange how he clung to the EU project, especially after what the EU did to his own country(Greece), what with imposing those very harsh economic conditions on it.
@@alphabetaxenonzzzcat The EU didn't. This is a common misconception. The countries in the euro did this, but they only represent two thirds of the EU and even include states not in the EU. Countries like the UK or Poland etc. have their own currencies and so weren't involved in the measures imposed. I have some sympathy with the people of Greece, but much less with their government who misrepresented their economic position when they joined the euro and ran huge budget deficits whilst making little effort to sort out the issues.
Hearing normal people dismissed as "xenophobic, racist, ultra-right" feels very 2016 and just shows how the political class still haven't listened to a word we are saying.
Reminds me of what Marc Twain said. "THE RUMOURS OF MY DEMISE ARE EXAGERATED". Easy to say Europe is dead. My friends are always predicting the end of the financial world but even broken clocks tell the right time twice a day.
The European Union is not the European continent.
The Euro currency zone will not survive as presently constituted. The question is how it will be re-constituted.
@@afritimm you think its bad now..just wait till they rush through Ukraine's membership in the middle of a war and the other nations have to deal with that hot financial mess dropped in their lap...
This guy is sooooooo overrated, it's always other people's fault, what a cry baby.
SOME PEOPLE DOESN T LIKE THAT EU WILL NOT THEM STEAL THEIR COUNTRY. HE SAYS CHINA IS DOING BETTER YES AND ON WHICH NUMBERS CAUSE ANY IDIOT KNOWS CHINA HIDE ITS DEBT THAT IS IN TRILLIONS.
He's a Russian asset. Always tries to destroy EU.
Yep failed Greek politician who just talks a lot of rot and pops his head up to flog books.
So you're saying it's his fault the Greek economy failed?
@@MarKeMu125 yes it is 100% his fault and his fault only. Greek economy is doing very well now and guess what? The recovery started the day he got booted out of politics.
Greece came into the EU because France insisted. And in a certain way they were right. It's the cradle of our democracy. Nevertheless, through the ages there was less and less of this original Greece left. So since they joined the EU it has always been a bit difficult to keep up with the rest of the EU, mainly because they have the same problem as Ukraine and Russia, in a smaller amount, but the absence of a well organized tax collecting system and a institutionalized "friends" corruptive system and mayor orthodox influence is keeping it's economic development lagging.
Hiding mayor financial debacles is damaging the trustworthiness of its government and institutions. Instead of fixing these problems, Yanis is opting for spreading Greece's problems over the EU as a whole. I don't think that's a good idea. Helping Greece by standing firm for good economic practice and helping them to improve these flaws are giving better results in my opinion. Although I do agree that we need EU synchronization in civil, penal and tax laws and a EU defense force, EU financial policy and foreign policy. And we need to help Greece financially when it's really necessary, after all we are a union.
They came in with the help of American banks that gave money and fudged the numbers..then Greece expected to get money without any changes imposed to go on-spending the money of Europe as a whole for the time being to not anger the Greek populace.
And he is allowed to speak on the BBC and is taken serious?
It was a complete mishandling of finances in Greece why they've so much troubles now. They gave out state bonds like candy to children, Yanis Varoufakis blames everybody but his own government. The Greek government entering the EU also lied about there debt and Yanis Varoufakis blamed it on the Germans and the ECB.
Greece is not the cradle of democracy, it’s very new to democracy after being under military rule, and being particularly deficient at emancipation.
I think he is going back to ancient times, Athens and the city states.
@@slackerbarny Yeah I know, but they were Athenians, not Greeks.
Απόλυτο δίκιο 💯 κύριε Βαρουφάκη.
I I believe Yanis is right, unfortunately! Over the past few months I' ve heard him and I 've found his ideas true and realistic.
Yanis I hope you are doing well and look forward to your next video 😍
🥱 The failed Greek Minister of economy.
Says the nobody on TH-cam who has never achieved anything😏
@@45wasright43 The guy in the video achieved something? Something more besides being the laughing stock of Europe...
@@45wasright43 Answers the MAGA clown who has nothing to show for himself🥱
@@45wasright43 you commented a total of like 3 times in this comment section, seems like you are the nobody on TH-cam who has never achieved anything, quite embarrassing I might say that between these 3 comments you only have 1 like sounds like a bit of cope🪦
@@45wasright43 Ruining a whole country's economy is an achievement these days?
He was right about the outcomes of a cynical new Labour government. It didn't take them two minutes to disappoint much of the population, and the beneficiaries of that disillusionment have indeed been the Reform and conservative Parties. The idea of a Reform/Conservative pact of some kind isn't that far fetched either.
Try democracy for change Yanis
The UK forming the EU was not democratic. There was no referendum, no mention in any manifesto, and no consultation with the public whatsoever.
Leaving the EU was democracy in action, regardless of the whinging from remoaners now entering it's 9th year.
Like voting to leave the EU? Remoaners still remoaning nearly a decade later, as if democracy is going to be undone lol.
Lol, like the EU? 🤣🤣🤣
@@bryandimery6509yea its just had elections 😂
@@bryandimery6509we literally just had elections last week 😂😂😂?
See this? 🧠
Thats called a brain, find one.
The far left and the far right are closer to each other than either of them is to the centre
Gerhard Schröder was Putin's biggest enabler. Tony Blair went to the opera with Putin. I don't think the centre should be so arrogant.
Exactly - look at the commonalities between Farage and Corbyn on Ukraine and Syria
@@storm21410You can also look at Biden and Netanyahu aligning on the Palestinians. Again, the centre should not be so arrogant, it has constant far right overlap.
@@sarahjessicafarter7383 That was in the early days. Try not to talk like a twerp.
@@sarahjessicafarter7383 US presidents had meetings with Stalin. You are really smart, aren't you? Keep doing that koolaid. You'll save planet.
Goodbye Yanis marxisfakis 😮🤥
Triple quadriple utilities and gas,long live Capitalism clever boy
@@johnlJjjjj-wi7ek What good are cheap utilities when you don't have a life ?'' John '' boy
The whole EU is a communist construct, who mean to erase all european heritage and create a banker's paradise on earth,
@@cristiangaban960 who's proposing that? Unless you're a multimillionaire there's no chance you'll be restricted from what you have now? They want to increase public transport and more public services, like Clement Attlee did to help the 1950's boom, but that's adding options not limiting them?
Why this guy gets a microphone is one of life's mysteries. And now he is spouting Kremlin propaganda. Wow.
It's democratic principle, man! Kremlin propaganda that Europe is dying can be overthrown by opposing facts! But what I hear is just talk, talk of self-elected, not-elected commissioners! EU buerocracy looks like Soviet Politburo!
Doomsayer Varoufakis would love nothing more than to see the EU implode. His negativity is getting tedious.
6:10 From introduction of euro only two countries profited namely Germany and Netherlands so it is ridiculous that the Greek guy is sorry that there was not enough further centralisation.
He is right. We are failing because the lack of federal powers.
Thanks again Mr Yanis fo information we normally don't get about Europe.
Oh FFS Varoufakis, you mix exceptional awareness with eternal bitterness and as usual you're right on everything except the moral and conclusion. Europe, as a project, isn't finished; but it is in serious trouble from fine intentions and imbecilic greed and for the sake of all that is good, requires and deserves support. And yet you'd rather not suggest anything more than more complaints.
Oh, and the interest in Corbyn - well, you speak of conviction as if it's the leader's minuscule feelings that matter. They don't, more than the feelings of the captain of the ship. What does he think of the destination? Who cares. What matters is the people get there safely. Or looking at Corbyn's time, not at all.
He is pro-Russian! Is it necessary to give space in media to such people?
Always, it at least makes us think. Jaw jaw is better than...
you don't believe in free speech???, i thought thats a democratic value ..
We .at have to ask the russians to step in and save us again like they did at stalingrad.
In what way is he pro-Russian and why do you think he is?
He is pro-Hamas. Being pro-russian is the least. He also is anti-democrat, anti-europe, anti-west, anti-american, anti-free market, anti-logic. And he is anti-greec in most aspects. And he is NOT POPULAR in Greece: he did not make in in the last two elections; he is irrelevant; why do you pay him any attention?
This is the guy that left Greece bankrupt... and run away. This guy is a disgrace
No he didn’t. The French and German banks bankrupted Greece
@@bishimixes9871 Of course-how can you expect to be paid back for the loans you gave out? That were sold to pension funds ?
did anybody force Greece to fudge the books, and lie to the EU?
So who is to be blamed?
I will copy paste from another comment of mine.
I am greek, and definitely not a supporter of his. But I wonder why you believe he "finished Greece". You would see greek businesses relocating to Cyprus, Bulgaria or Romania also if aliens Turkey invaded Greece, or if a meteor hit Greece. But it would not be the fault of the greek finance minister then, would it?
Or was it Varoufakis who (deliberately) indebted Greece, (deliberately) reduced its competitiveness with high taxation, too much public employees and their salaries (pyed by greek taxpayers and even worse the loans taken from french, british and german banks)?
Varoufakis simply told the lenders of Greece "I do not accept to pay you 5% of Greece's GDP per year, because this means that GDP will decrease, Greece will become even poorer, population would reduce drastically, and so on". And they (after they co-created our debt with greek politicians, who belong to the same secret organization with them) told him "No". And he told them back : "No". So they stoped giving banknotes to greek banks. So greek banks then run out of cash, also because many people were afraid that they would lose their savings, because they were influenced by the "News Media" (so "reporters and journalists" who are also members of the same secret organization with the politicians), and went to withdraw a lot of money.
So as you can see, you can disagree (and I personally disagree) very much with Mr. Varoufakis (as he is also a liar and a member of the exact same organization ). But you cannot debit him that he "finished Greece", based on my comment.
I am 31 btw, and I have spent the last 10 years of my life trying to decipher whose fault is/was what in this story, and my comment is the conclusion I have arrived at.
Personally, I do not care about any of these things, and I believe that final economic performance is not the product of the free economic activity of people, but it is regulated by this organization.
If you don't believe me, wait until one of the countries in Europe or North America sees its fertility rate increasing for 3-4-6 years in a row, and see what "happens" to them
They will create another "economic" crisis to reduce it again. They do it to every country. Even countries like Sweden, Iceland, the UK, France, USA. Except Israel it seems.
And at the same time "our economy needs more immigr. from Africa and Asia".
Looks like they want this population replacement to happen!
he tried to do the opposite in an already bancrupt country, basically....
I'm not a fan of the EU but someone must believe that they're getting some benefit from it -- because they pay billions into it. As the Scottish economist Adam Smith said, "There's much ruin in a nation." (That is, a nation can survive many setbacks.)
The nation yes, we survived wars and plagues, doesn't mean that as an individual I want to experience it
Europe has been a battle ground for thousands of years. Then the EU and its predecessors came and we've had an historically long time of peace. Only broken by a country that is known for hating collaboration among European nations. The European project had been extremely successful on its core function; connecting European economies so that European nations have no incentive to go to war, in fact they are incentived to collaborate more fiercely which has seen many positive outcomes.
@@alicianieto2822 But why would a politician care about that?
Everyone seems so smug about these prophesies of doom about Europe, the self-satisfied smiles and smirks from people leading enviable lives in the same Europe which they are trashing, are quite nauseating. That is what leads one to believe that these prophets of doom are not being honest with themselves. If they really believed in what they said their tone would be very different
You should distinguish the EU as an institution from its constituent countries. Each country has great and unique value, the EU has an entirely different value proposition
YANIS ONT T'AIME, MERCI POUR TOUT CE QUE VOUS FAITE❤❤❤❤❤❤
Jesus not this guy again
What has Jesus got to do with it?
I like Yanis. He is authentic. I disagree that the EU has failed as a whole. It was big ask to expect all of Europe to come together as a sort of USE with so much cultural diversity. The EU single market, however, is a triumph and one we will sorely miss. I don't understand the hate he get's here but then this is Times Radio and, well, err, bless.
But if "the EU is finished", what happens to Yanis's DIEM25 movement? I've always thought DIEM25 would fail "to fix the EU" from within it. Break it up again into sovereign states -- autonomy with individual trade links.
The guy who almost finished Greece! The year he was in goverment all of my clients from Greece moved their HQ to Cyprus, Romania or Bulgaria. Big companies moved their HQ to Switzlerland, Luxembourg or the Netherlands.
I am greek, and definitely not a supporter of his. But I wonder why you believe he "finished Greece". You would see greek businesses relocating to Cyprus, Bulgaria or Romania also if aliens Turkey invaded Greece, or if a meteor hit Greece. But it would not be the fault of the greek finance minister then, would it?
Or was it Varoufakis who (deliberately) indebted Greece, (deliberately) reduced its competitiveness with high taxation, too much public employees and their salaries (pyed by greek taxpayers and even worse the loans taken from french, british and german banks)?
Varoufakis simply told the lenders of Greece "I do not accept to pay you 5% of Greece's GDP per year, because this means that GDP will decrease, Greece will become even poorer, population would reduce drastically, and so on". And they (after they co-created our debt with greek politicians, who belong to the same secret organization with them) told him "No". And he told them back : "No". So they stoped giving banknotes to greek banks. So greek banks then run out of cash, also because many people were afraid that they would lose their savings, because they were influenced by the "News Media" (so "reporters and journalists" who are also members of the same secret organization with the politicians), and went to withdraw a lot of money.
So as you can see, you can disagree (and I personally disagree) very much with Mr. Varoufakis (as he is also a liar and a member of the exact same organization 😁). But you cannot debit him that he "finished Greece", based on my comment.
I am 31 btw, and I have spent the last 10 years of my life trying to decipher whose fault is/was what in this story, and my comment is the conclusion I have arrived at.
Personally, I do not care about any of these things, and I believe that final economic performance is not the product of the free economic activity of people, but it is regulated by this organization.
If you don't believe me, wait until one of the countries in Europe or North America sees its fertility rate increasing for 3-4-6 years in a row, and see what "happens" to them😁
They will create another "economic" crisis to reduce it again. They do it to every country. Even countries like Sweden, Iceland, the UK, France, USA. Except Israel it seems.
And at the same time "our economy needs more immigr. from Africa and Asia".
Looks like they want this population replacement to happen!
@@delusion2987 could you please explain to me why western economies need immigrants? Why do you need immigrants once the fertility rate drops below 2.1 exactly?
Iceland has 300k inhabitants. But it has higher GDP per capita than Germany, which has 84 million inhabitants.
So my question to you is: why do you believe that population must be at least constant in time, for GDP and/or GDP per capita to also remain constant in time?
My personal answer: you don't need it. Germany can simply lose population, while its GDP and GDP per capita could increase, due to other factors such as automation and other optimizations.
Also, I never claimed that the replacement is "insidious".
@@tomorrowneverdies567 What is the motivation behind this replacement? Why do "they" want to replace the native population?
@@paratame105 no idea.
@@tomorrowneverdies567 No offense, but without any motivation/motive behind it, I don't find the theory very plausible
His "great fear" is based on his lack of connection to the working class and our revolutionary instincts. Build the unions, Yanis!
It is Yanis that has failed miserably, and is now sour, bitter and twisted
I will copy paste from another comment of mine.
I am greek, and definitely not a supporter of his. But I wonder why you believe he "finished Greece". You would see greek businesses relocating to Cyprus, Bulgaria or Romania also if aliens Turkey invaded Greece, or if a meteor hit Greece. But it would not be the fault of the greek finance minister then, would it?
Or was it Varoufakis who (deliberately) indebted Greece, (deliberately) reduced its competitiveness with high taxation, too much public employees and their salaries (pyed by greek taxpayers and even worse the loans taken from french, british and german banks)?
Varoufakis simply told the lenders of Greece "I do not accept to pay you 5% of Greece's GDP per year, because this means that GDP will decrease, Greece will become even poorer, population would reduce drastically, and so on". And they (after they co-created our debt with greek politicians, who belong to the same secret organization with them) told him "No". And he told them back : "No". So they stoped giving banknotes to greek banks. So greek banks then run out of cash, also because many people were afraid that they would lose their savings, because they were influenced by the "News Media" (so "reporters and journalists" who are also members of the same secret organization with the politicians), and went to withdraw a lot of money.
So as you can see, you can disagree (and I personally disagree) very much with Mr. Varoufakis (as he is also a liar and a member of the exact same organization ). But you cannot debit him that he "finished Greece", based on my comment.
I am 31 btw, and I have spent the last 10 years of my life trying to decipher whose fault is/was what in this story, and my comment is the conclusion I have arrived at.
Personally, I do not care about any of these things, and I believe that final economic performance is not the product of the free economic activity of people, but it is regulated by this organization.
If you don't believe me, wait until one of the countries in Europe or North America sees its fertility rate increasing for 3-4-6 years in a row, and see what "happens" to them
They will create another "economic" crisis to reduce it again. They do it to every country. Even countries like Sweden, Iceland, the UK, France, USA. Except Israel it seems.
And at the same time "our economy needs more immigr. from Africa and Asia".
Looks like they want this population replacement to happen!
Totally agree, he’s failed. But he is too deluded to accept that and actually become sour.
@@WatermelonCat-yc4bq I totally agree with what is written here. Capitalism will function and be fair in creating and even balanced, economic growth, if the governments and Banks are in tendon.
Yanis Varoufakis goes on about deindustrialisation but he supports things such as Net Zero and Green New Deal.That's why , Europe has given up on making anything
Varoufakis is a dweeb but bet zero and green new deal are not to blame for Europes economic problems. China is going gangbusters with solar, batteries, EVs and other alternative energy tech. Europe's problem is a lack of focus on science and tech. A secondary problem is many Europeans tend to distrust big corporations which are absolutely necessary if one wants to compete on global stage due to economies of scale.
he is a lunatic
He's a liar. Not a lunatic. Greetings from Greece. 😁
Greece did not bring much to the EU table Yanis. It is a limp-along economy. The EU is still the economic envy of the world.
Certainly not the economic envy of the USA!
Speaking here from Los Angeles. I like several of the concepts he discusses, and wish these would be included in the general conversations in the US. First is the friction forces that prevent efficient use of capitol. Here for example, the infrastructure spending has been inefficient - wasting a great opportunity in advance semiconductor manufacturing. Friction created by the DEI mandates, workforces lacking skills due to misplaced higher education are hampering progress. Next the center collapse that is fundamentally caused by poor governance, leading to far right and far left forces gaining strength because government does not deliver for average people and they have nowhere to turn.
In a way the Greek people were never in the European empire because the ' people' never payed taxes to the government. But also, the Greek economy was working best when it had its own currency that was devalued appropriately to live in a low inflationary, tourist revenue based economy. Trust Frabce to fruck things up for the Greeks. The greatest irony is that the greeks had a wealthier culture before the union.
Most Greeks, like most Southeast Europeans, are very, very bad at politics and economics. They are a politically immature society. More ruled by emotions and pride than reason or logic. Yanis is an exception.
We all know the EU has challenges, some wise heads are needed to steer it through the next few years, we can't deny that, but I doubt that it is finished unless it cannot adapt and Im sure the EU will adapt. I think the biggest issue has been and is the lack of listening to Europeans concerns over migration, that has been a major failure.
Good Man
He says what he has to stay revelant
And he's failing, splendidly.
Yanis 🤡🤡🤡🤡🤡🤡
Says the doodoo who could pass freshman lit.
@@joeldwest 🤡🤡🤡🤡🤡🤡
Didn't Mr V try trickery in accounting for Greece's finances to the EU while he was finance minister of Greece during the 2008 crisis?
Has Greece done well economically in the years since?
Better than before. They don't want to pay taxes, though, and some measures seem a bit harsh. But they spent like crazy before, and now have to atone for that. Just not the same people that wasted the money.
Yannis became Finance Minister in 2015 and wasn't involved in Greek politics before that. Who tf lied to you?!
So Yanis, ...... only countries that forever allow open borders are not xenophobic?
if you can't see that we live in the 1930s you are sth more than blind. and you will pay for it.
Russia will live in the 30s
your 15 minutes are up, yanis
For the attention of Liberal Democrats, who still want to board the sinking ship!
Yeah .... riiiiight. Greetings from Malta. We're very happy to be part of the EU.
The british again saw this well before anyone else , so we can at least be proud of our foresight , yes the wef and big business runs europe we all see this
He says the pandemic was an opportunity to create a socialist regime. That’s all you need to hear.
He didn't say that. He said we need to create European Treasury bonds
Keep talking Yanis. ❤ well done.
His idea of the EU was something akin to the Soviet Union.
What Juncker started corrupt Ursula finishes....
Still saying EU is doomed… such a bore… and bitter…
Times radio has shown me how vacuous the UK journalists are - not one follow up question.
The guy literally read a script .... a kind of acting.
He's always eloquent, check his Q&A in other media too
Love love love you Yani. Yanis for world President.
Please never stop.
Perhaps Yanis could address the illegal migrant crisis, and why Britain should be the ‘safe refuge’ of choice when we are not even in the EU any longer, (partly due to their mishandling of illegal migrant policy)? Obliging Ireland to rehome them does not appear to be working too well.
Perhaps you could check your facts on Britain being the safe refuge of choice for illegal migrants. Most of them are happy to get away from their war torn, asset stripped countries (by the west), to some sort of hope for the future. If they have family here or speak a little English that may make Britain more desirable obviously.
The European project has failed.
The Americans has succeeded.
No, the whole West going down.
The problem with a common bank is that each country is not having the same credit rating. Who will ultimately pay the debt if they already have big debts? Greece was a warning already of mismanagement that goverment were not up to the task of fixing the budget.
you lost me when you blamed political beliefs on the color of skin.
@@michelleleon8802
Have you studied, demographic voting analysis ?
The USA.
The majority of people of colour vote Democrat.
Did you not listen to Joe Biden, when on the previous Presidential Election Campaign ?
"You ain't black if you don't vote Democrat"
Which didn't happen at any point in the interview
@@michelleleon8802
My comment has been deleted by Alphabet Inc !
@@michelleleon8802
SECOND ATTEMPT.
May I ask, "Have you studied voting demographics ?".
You seem to be very ignorant on the subject matter.
Blokes brilliant!
EU has failed..
What a clown 😂
You think you're so hot? You couldn't hold a tiny fraction of the thought capacity of such a man. Integrity? He has it. Not right wingers
Why don't you take on the Troika? Because you are their paid pet.
As a greek person, I can confirm. However, I notice that almost all politicians are clowns nowadays 😁
@@tomorrowneverdies567 This is true and I say this as a long suffering Bit. 🤣
Are you Greek?
@@WatermelonCat-yc4bq 🇮🇹
He is finished for many years - worst Finance minister Greece ever had
Some people commenting in here don't seem to know that he was NOT the minister when Greece went bust. The huge mess was created by others. He was later appointed to try and fix it.
As long as Germany remember that the EURO is really the Deutetch march and it understands what the MMT movement is saying all will be well if austerity is not used.
Forgotten but not gone
Left wing greek Farage
Why do you dislike Farage?. He seems to have more integrity than the rest.
I'm not sure what you mean by that. What's he done that makes him similar to Farage?
@@73elephants, he tried to get Greece out of the EU, when he was Finance Minister
@@ΗλίαςΠαπαδάτος-χ3ξ I can see why you would object to that, but he was probably right. To give up your powers as a nation is to lose independence, and then be at the mercy of people who, very likely, do not have your country's interests at the forefront of their mind.
@@ΗλίαςΠαπαδάτος-χ3ξ So basically in the opposite poll than Farage in terms of political view and he did gaslight his nation to do something that they later regreted.
Otherwise yes. He is like Farage.
1:40 Germany had artificial budget surplus neglecting its defence and its infrastructure like e-government or trail infrastructure
Greece was absolutely broke in 2007. I remember driving across it and there were people selling themselves then. It was tragic.Adverts on traffic lights and phone boxes. Terrible 😔
Disingenuous to conflate opposition to mass immigration being xenophobic or ultra-right, very sloppy political jargon.
Yeah, NO. Not even Greece as a huge Financial Greek tragedy could break the EU.
Why is this no mark in our country?? Who gives a damn what he thinks. He has failed at everything he does. Go away. You are not wanted and not listened to.
For the first time since I first came in 1992 I saw beggars in the small German market town Kleve this week. Not foreigners but Germans, young and old. I hate to say it, but he might be right.
You canmot repeat thesame mistake and expect a different result.
No big tech in the UK or Europe 😢
Aehm the chip factories built in Germany don't count?
What is the UK?
@@DaniloSol oh haha. Go to school.
Yanis you have been telling us that for 16 years yet they continue to wreck havoc on their countries of influence
And yet the EU is still here. Looks like failure takes a long time to become reality....
Thanks for post. Interesting.
He finally figured it out after a decade of his reform the EU BS.
It was finished with choosing a Ponzy scheme for monetary system. Funny you, Yanis, never realised this, funny.😅
The Great Financial Crisis exposed the folly of the individual European Governments. It lead to the European Sovereign Debt Crisis. Deficit spending is the largest misappropriation in economics. And Greece was the worst perpetrator in Europe. Germany setup the rules for the Euro Union; trying to hold other countries to some sort of fiscal discipline by limiting annual deficit spending to 3 per cent the countries' GDP. Greece ignored this limit and went off-book until they couldn't make the interest payments. Interesting that this Greek politician is complaining about the Euro Union setup.
The European Soveriegn Debt Crisis was ,or should have been, a wake up call. But the politicians papered it over (and put it off until later). Somebody has to payback the deficit (debt). Would you like to start now, or would rather do it later (when the cost will be higher)?
He agrees with Baroness Thatcher!!. A monetary union will never work.
New investments reqiuire new inventivity , new Heuristics new european common engineerng
Germany is history, led by the blind 🦯.
Where are all those wars and where is all that virulent political instability in the EU countries? People on top milking the system is business as usual, no news at all. So …Thank you Yannis for your analysis, to my own Analysis the glass is still more than half full, which isn’t too bad at all for average EU country’s citizens.
so glad we are out of the EU. we should never have entered into it without a referendum or the will of the people, which would have been a firm "no".
ok Ivan...
We entered the EEC in 1973 and two years later the British people were asked to confirm or reject that decision. There was a massive majority in favour of continued membership. Already the tide has turned and the majority of British people feel it was a mistake to leave and are in favour of rejoining.
It will not be long before UK in in again.
@@ysteinfjr7529 And why would that be?
What has the UK to offer to let it back in?
Why would the EU suspend Article 49 and Copenhagn criteria for the UK?
No reason at all.
You can apply, but we will decide.
And until you are fit to join, you sit on the naughty steps.
And boy is the UK unfit to join-just the debt to GDP to be allowed in has to be halved. You think the UK can do it n a shrinking economy?
No more opt outs, no more waivers.
We have seen to what kinds of delusions that lead.
Our way or the highway by now.
@@Tridhos That vote was based upon a set of guarantees about the sovereignty of the UK made by the Wilson government and claims about economic advantage. Nearly all the guarantees were subsequently broken, without any electoral mandate. The document is still available online.
How long has this guy been repeating the same tape?
Doesn't make it not true