It’s that man again. Varoufakis was a speaker at this week’s FundForum International conference, billed as the the world’s largest investment management event, and here is his presentation entitled: “The state of Europe and the Euro”.
His main presentation argues that the economic and political problems of Europe, China, and Japan, and the rise of Trump are all linked to the same basic weakness which is what he describes as a ‘planetary failure of coordination’ which manifests as the largest savings rate and the lowest investment rate since 1950s. So a mountain of savings and only a trickle into investment. He then explores how why this situation as arisen and in particular the role of the financial system in the problem.
After his presentation Varoufakis was interviewed on stage and made some interesting remarks about the problem of the giant German surplus and why Germans should care about it (at minute 22.37), the UK’s election and prospects for Brexit negotiations (28.33 into the video) and on the prospects for the eurozone and the of Macron presidency (31.45), in passing he also says that he distrusts Martin Schulz and the German SPD immensely.
