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

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    The reason why your social services
    are diminishing and so on
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    is this process of austerity for the many
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    and socialism in inverted commas
    for the very few.
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    They printed 6 trillion euros
    to give to the bankers.
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    The bankers gave it to the big buisiness,
    who did not invest it.
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    Why did they not invest it?
    Because they looked at all of us,
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    around Europe, and said
    'ah, these people don't have money'.
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    As if we're going to invest in products
    that these people can't afford.
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    So what did they do
    with this 6 trillion euros?
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    They went to the stock exchange
    and bought their own shares.
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    Their shares went up,
    they didn't invest anything.
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    And you know what? Guess what?
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    Europe for 15 years has not invested.
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    In anything.
    Zero net investment in Europe.
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    This has never happened
    in the history of the universe,
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    not the world.
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    To have such a rich continent,
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    with all these savings and money
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    and profits, and real estate,
    not investing.
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    But the Chinese
    and the Americans invested.
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    In green technologies,
    in what I call cloud capital,
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    algorithms, AI and all that.
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    And you know what?
    We've become the stupid continent.
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    We missed out on one
    whole technological revolution
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    after all these 15 years, a steady process
    of secular stagnation.
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    This is not a crisis
    that will go down and then will go up.
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    For the next 50 years we are condemned
    to stagnate as a continent.
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    When a continent like Europe,
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    which is so powerful and so rich,
    stagnates,
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    what happens is
    the politics starts fragmenting.
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    So the reason why we are so complacent,
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    the reason why the far right
    is rising everywhere, universally...
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    The left, the center left,
    was purging itself
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    trying to adapt to the center, which
    was shifting increasingly to the right,
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    being pushed by those who genuinely
    looked at people in the eye and said:
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    'I feel your pain'.
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    'I feel your pain,
    you've never had it so bad'.
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    'Your children are going to have
    a far worse life than you did'.
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    'I feel your pain, give me the power
    and I'll make you great again'.
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    And those were the fascists back then
    and they are the fascists today.
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    In this context, a Europe
    that is politically fragmented,
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    it is becoming a vassal
    of the powers that be.
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    In this case, W DC cannot do anything
    to oppose the never ending war in Ukraine,
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    cannot do anything to oppose
    its own secular stagnation
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    and when Netanyahu, along with
    Genocide Joe Biden, places a whole people,
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    the people of Gaza, on death row,
    the Europeans, they look like a dog
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    that doesn't understand what it is
    that you are saying to it.
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    You have, Ursula Von Derlyen,
    she projects the flag of Israel on the buildings
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    and at the same time
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    in the context of explaining why Europe is
    utterly commited to International Law
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    she has to explain why she is not
    going to abide by
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    the international criminal courts decision to
    indicte Netanyahu
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Title:
Yanis Varoufakis: They printed €6 trillion and gave it to the bankers
Description:

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Video Language:
English
Duration:
02:53

English subtitles

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