Yanis Varoufakis On Merkel’s Legacy

Angela Merkel was not defeated. She’s the first german chancellor in the post-war era that has not been defeated, she’s resigned so she is going home because she’s had enough.

Varoufakis claim that Merkel’s austerity policies condemned Europe and germany to decline. Very soon after the meltdown of 2008, Angela Merkel found out to her disbelief that the german banks were also in bankrupt, so were the french banks and in the european union including the british ones and they had to salvage them like president Obama did in the US, except that, unlike president Obama, the europeans had given up on having a national central bank. So they they brought into being a cynical transfer of instead of printing money, which is what Tim Geithner, Larry Summers and Barack Obama did in the US. Instead of doing that, they transferred their losses on to the shoulders of the weakest taxpayers, who were Greeks, Germans working class and so on. So you had socialism for the very few, the bankers, and harsh austerity for everyone else, not just the greeks but the german workers, the french workers, the slovak workers, the portuguese workers, the spanish workers.

Angela Merkel leaves the chancellory of Germany much stronger than she inherited because of the crisis, she leaves Germany completely full of economic surplus but she also leaves it with low levels of investments and effectively condemned to be falling behind China and US when it comes to things of humanity and Europeans will be needing in the next few years which is green energy, artificial intelligence, High-tech companies that can combine the green transition with some degree of shared prosperity.

Angela Merkel and immigration. For Varoufakis, her initial response was great and he was proud to be european because of Angela Merkel said let them in, she let one million people in but then immediately her pragmatism kicks in. She is the leader of a conservative party that was about to eat her and within two weeks she reversed the course. So that initial response shows that the woman is probably a very decent person but within two weeks she spoke to the turkish president Mr Erdogan and together they concocted a travesty of a policy. Effectively the EU under Merkel’s guidance bribed with a few billion euros Erdogan to allow the EU to violate international law not to allow refugees that are on these ramshackle boats end up on the greek Lesbo’s island. They really don’t have the right to seek asylum because Merkel and Erdogan agreed that Turkey is a safe country and therefore no refugees from Syria, from Afghanistan, from wherever, has the right to file an application for refugee status even if they’ve been tortured. Recently a concentration camp, a prison camp was built with european union money, as part of the Merkel legacy, on the island of Samos so these people can stay in there for years, for having committed the crime of coming to Europe to seek refugee status.


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