Greek former Finance Minister Yanis Varoufakis visited Australia to give a lecture at Sydney University, where he explained what he has planned for the future.
According to the newspaper Sydney Morning Herald, Varoufakis stressed that from the moment that a country enters the single currency system, there is no way out, since the consequences could be dire. “What we need is a more democratic Europe” he said, adding that this would be his next project.
“The reason that Europe is crumbling is because of its democratic deficit. Unless we overcome that deficit Europe is going to shrivel and die. Then the whole world is going to be in turmoil,” he said during the lecture and went on to explain exactly his plan to “democratize Europe.”
“Together with a number of colleagues we are trying to create a political movement which will be pan-European, cross border, and which will attempt to address the common problems that we have,” he said.
During his lecture he described the creation of a monetary union with the invasion of Napoleon in Russia. “At first dramatic progress,” he said. “Just like the French troops under Napoleon … they storm the country and take large tracts of land without much resistance. But then slowly the heavy winter sets in. The Cossacks and the Russian partisans start blowing up your convoys and eventually you end up with blood in the snow,” he told the audience commenting on the economic challenges that Europe is facing at the moment.