Carnegie conversations: Democracy under siege

What happens when a Professor of Economics gets his hands on the economic levers of a country in the eye of the financial storm? Yanis Varoufakis’ seven month stint as Greece’s Minister of Finance took him into the heart of the Eurogroup, the IMF, and the continent’s top decision-making bodies. With bluntness and force, he put the case for a different solution to Greece’s ills and accused the country’s creditors of terrorism. Telling Bloomberf “I wouldprefer to cut my arm off” rather than accept a bailout that did not involve debt restructuring, Varoufakis did not make friends among the Eurocrats. Sharing his first-hand view of the global financial system and what is means for ordinary citizens and governments when things go wrong, Yanis Varoufakis discusses his experience at the intersection of politics and economics in theory and practice. Here is a direct video link.

The formal speech lasts for about 20 minutes. The discussion afterwards is also worthwhile.

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