Summary of Missing Link to Yanis Varoufakis

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Missing Link to Yanis Varoufakis summary
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In this interview, former Greek finance minister Yanis Varoufakis launches a scathing attack on Europe’s economic institutions. He likens the Troika – the European Central Bank, the International Monetary Fund and the European Commission – to an unelected neocolonial dictatorship. Varoufakis eloquently articulates the causes of the Greek economic tragedy and suggests reforms. While always politically neutral, getAbstract believes Varoufakis’s arguments will trigger essential discourse among economists and Europeans concerned about the euro zone’s future.

In this summary, you will learn

  • Why, according to former Greek finance minister Yanis Varoufakis, Greece’s economy became entrenched in a sovereign debt crisis;
  • Why he believes the Eurogroup is a “democracy-free zone”; and
  • What reforms he deems necessary to save the European Union.
 

About the Speaker

Economics professor Yanis Varoufakis held the office of Greek finance minister for seven months in 2015.

 

Summary

As of 2015, Greece’s GDP had fallen for seven consecutive years. Some 28% of Greeks were unemployed, and 500,000 educated youths had emigrated. Such dire economic circumstances deter investment in the country. The Greek crisis unfurled for two reasons:

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