In this video founder of the Democracy in Europe Movement 2025 and former finance minister of Greece, Yanis Varoufakis, talks about the concept of “Debtors’ Prison” and the economic ideas of John Maynard Keynes.
Worth watching for the explanation of Keynes extremely interesting, and still highly relevant, ideas about how to create a more stable international economic system.
In addition Varoufakis explains the double standards of the European Union regarding the enforcement of economic rules amongst different member states. The EU is repeating the same mistakes made in the 1930s, which is placing all the onus for correction on the deficit countries when the problems are caused by the surplus countries (see my earlier post “The delusions of Mr Dijsselbloem“).
