Segments in this Video

Introduction: People, Power and Varoufakis (00:58)


The European Union is facing unprecedented economic and political upheaval and civil confidence is declining. This is the story of the Yanis Varoufakis's rescue plan for Europe.

Fighting for the People (02:37)

In Berlin progressive thinkers and politicians meet to discuss tactics and strategy for reclaiming prosperity in Europe. Varoufakis speaks to the gathering about deceitful politics in the European Union.

Minister of Finance (02:23)

Varoufakis attempted to use his political position to renegotiate economic deals pertaining to Greek austerity. Varoufakis speaks about the new reality of political parties ceding power to bankers and financiers.

People vs Paper Mill (05:05)

An activist group organizes and fights political and economic corruption in Pontevedra, Spain. Fisherman Juan Castiñeira speaks about the pollution in Pontevedra's river mouth from industrial waste.

European Monetary Union (03:12)

Wolfgang Streeck speaks about his research on the damage the European monetary system has done to democracy in Europe. Streeck talks about the self-contradictory aims of a monetary union between disparate regions.

The Euro (05:21)

Varoufakis speaks about his opposition to the current set up for the Euro currency. Varoufakis shares his belief that the Euro will lead to uncontrolled growth followed by economic crash. Streeck speaks about the different economies in European member countries and how tying them to a common currency is problematic.

Injury to Democracy (02:46)

Varoufakis tells about how his political agenda, endorsed by voters, was quashed by the powers behind the finance system. Streecker speaks about the opposition to reform from Brussels.

City of London Corporation (02:11)

The City of London Corporation is invested in keeping Britain a part of the European Union. Mark Boleat speaks about the importance of London's financial sector to the European Union.

Residents of City of London (02:30)

Peter Kenyon speaks about the culture of deregulation and the efforts of financiers to ensure they are allowed to behave poorly.

Fall of Social Democracy (04:47)

Varoufakis explains how the process of financialization led to the demise of social democracy. Varoufakis believes that social democrats allowed bankers to run amok in the hopes of increasing tax revenue.

Corruption, Lies, and Politics (01:39)

Streecker speaks about the endemic corruption of the global financial markets. Varoufakis relates a story about a financier telling him the system is broken, but must prevail, due to political capital invested in it.

Explanations from History (02:18)

Streecker speaks about how the revolutionary period in Southern Europe of the 1970s led to consolidation of the European Financial System in the pursuit of stability.

A False Bail Out (03:48)

Varoufakis and Streecker speak about how the Greek Bail Out was a ruse in which funds were channeled to Northern European Banks.

Fighting for Power (05:01)

Streecker expresses his views regarding decentralization and globalization. Miguel Anxo Lores vows to fight for his citizens against the corruption and greed of the financiers who live far away. Boleat says bankers were not solely responsible for the 2008 financial crash.

In Your Own Backyard (02:09)

Virginia Rodriguez speaks about her activism in protecting the forests of Pontevedra from industry and outside forces. Varoufakis offers a final word on European identity.

Credits: People, Power and Varoufakis (00:24)

Credits: People, Power and Varoufakis

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People, Power and Varoufakis: A New Democracy for Europe?

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If the European leaders won’t start to listen to their citizens soon, the European Union will be a thing of the past. For this reason, former Greek minister of Finance, Yanis Varoufakis, has started a grass roots movement which is rapidly gaining support all over Europe. What is the most frightening thing for the political order in Europe? Not terrorism, migration or the international competitive position, its democracy. If the European leaders won’t listen to the citizens of the 28 countries that make up the Union, it will disintegrate before long, says Greek economist and former minister of Finance Yanis Varoufakis. That is why he has started a political movement, which is rapidly joined by all sorts of civil initiative organizations, from Berlin to Zagreb. What would a new, truly democratic Europe look like? As a minister, Varoufakis noticed that a politician doesn’t have any power. Real power lies with the people who control the economy. When he presented his new movement DiEM25, he took up the fight with the financial sector and the large companies which, according to him, are cannibalizing politics. The City of London is a state within the British state, so it’s a model for the power of corporate Europe and the end of democracy. It’s a situation which is growing out of control, says German sociologist Wolfgang Streeck. In great detail he explains how we, using increasingly innovative financial maneuvers, have bought off a political crisis in Europe and postponed the ‘day of reckoning’. In the Spanish town of Pontevedra, former resident and prime minister of Spain, Mariano Rajoy, has been declared persona non grata. Rajoy granted a sixty-year concession for a large piece of coastal property to an extremely polluting paper mill. This was a typical example of how the old corrupted politics worked. The local population are not going to take it anymore. Does Varoufakis’ pan-European movement stand a chance? Can it really create change? VPRO Backlight: People, power and Varoufakis with, among others, Wolfgang Streeck (German sociologist), Yanis Varoufakis (Greek economist and former minister of Finance), Migual Anxo Lores (mayor of Pontevredra, Spain) and Mark Boleat (City of London lobbyist).

Length: 48 minutes

Item#: BVL129514

ISBN: 978-1-64023-654-7

Copyright date: ©2016

Closed Captioned

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