Yanis Varoufakis: How Capitalism Works — and How It Fails (ONE of TWO)
Talking to My Daughter About the Economy Yanis Varoufakis was already an internationally known economist and academic when he was elected to the Greek parliament as a member of the Syriza party. He served as Minister of Finance from January to July 2015. He resigned when Syriza broke its promise to re-negotiate Greece’s debt and significantly curtail the austerity measures which had led to the longest recession in post-war history.
Varoufakis led negotiations with Greece’s creditors during this government-debt crisis. However, he failed to reach an agreement with them. This led to the 2015 Greek bailout referendum. He criticized the troika of Greece’s lenders, the IMF, the ECB, and the European Commission. They insisted on these bailout loans. Varoufakis said that [ . . . ]
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