Yanis Varoufakis: They printed €6 trillion and gave it to the bankers

The reason why your social services
are diminishing and so on

is this process of austerity for the many

and socialism in inverted commas
for the very few.

They printed 6 trillion euros
to give to the bankers.

The bankers gave it to the big buisiness,
who did not invest it.

Why did they not invest it?

Because they looked at all of us,
around Europe

and said 'these people don't have money,

as if we're going to invest in products
that they can't afford.

So what did they do
with this 6 trillion euros?

They went to the stock exchange
and bought their own shares.

Their shares went up,
they didn't invest anything.

And you know what? Guess what?

Europe for 15 years has not invested.

In anything.
Zero net investment in Europe.

This has never happened
in the history of the universe,

not the world.

To have such a rich continent,
with all these savings and money

and profits, and real estate,
not investing.

But the Chinese
and the Americans invested.

In green technologies,
in what I call cloud capital,

algorithms, AI and all that.

And you know what?
We've become the stupid continent.

We missed out on one
whole technological revolution

after all these 15 years,

a steady process
of secular stagnation.

This is not a crisis
that will go down and then will go up.

For the next 50 years we are condemned
to stagnate as a continent.

When a continent like Europe,

which is so powerful and so rich,
stagnates,

what happens is
the politics starts fragmenting.

So the reason why we are so complacent,

the reason why the far right
is rising everywhere, universally...

The left, the center left,
was purging itself

trying to adapt to the center, which
was shifting increasingly to the right,

being pushed by those who genuinely
looked at people in the eye and said:

'I feel your pain'.

'I feel your pain,
you've never had it so bad'.

'Your children are going to have
a far worse life than you did'.

'I feel your pain, give me the power
and I'll make you great again'.

And those were the fascists back then
and they are the fascists today.

In this context, a Europe
that is politically fragmented,

it is becoming a vassal
of the powers that be.

In this case, W DC cannot do anything
to oppose the never ending war in Ukraine,

cannot do anything to oppose
its own secular stagnation

and when Netanyahu, along with
Genocide Joe Biden, places a whole people,

the people of Gaza, on death row,
the Europeans, they look like a dog

that doesn't understand what it is
that you are saying to it.

You have, Ursula Von Derlyen,
she projects the flag of Israel on the buildings

and at the same time

in the context of explaining why Europe is
utterly commited to International Law

she has to explain why she is not
going to abide by

the international criminal courts
decision to indicte Netanyahu.