Yanis Varoufakis: How The 2008 Crisis Revived Far-Right Populism
5/3/20261 hr 18 min
Was the 2008 financial crisis as consequential as the 1929 Wall Street Crash? How did it pave the way for Trump, Brexit, and the rise of the far-right across Europe? Will the economic damage caused by Trump’s war with Iran outlast the conflict itself?
Rory and Alastair are joined by Yanis Varoufakis to discuss all this and more.
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First 90 secondsAlastair Campbell· Host0:00
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Yanis Varoufakis· Guest0:12
2008 was our generation's 1929.
Alastair Campbell· Host0:16
You're basically saying that that is what has in part led to the kind of global mess that we're in now. That is what gave us Trump. It's what gave us Brexit. It's what's giving us the rise of the far right in Europe.
Yanis Varoufakis· Guest0:27
Absolutely. Absolutely. You have a situation where the left failed, and the liberal establishment's failed. That led to the fascists rising up through the woodwork.
Alastair Campbell· Host0:36
You said the reason why Europe is going down the drain.
Yanis Varoufakis· Guest0:39
Yep.
Alastair Campbell· Host0:39
Is, is Europe going down the drain?
Yanis Varoufakis· Guest0:40
Oh, yeah. It's gone, finished.
Alastair Campbell· Host0:41
Because of what you call socialism for the banks and austerity for the people.
Yanis Varoufakis· Guest0:44
You do this if you want to destroy a continent. This is what we did. This was a crime against Europe.
Rory Stewart· Host0:49
This episode is presented by IG. "Sell in May and go away" may be a weird saying in finance, but as many politicians know, a pithy phrase isn't necessarily an effective strategy.
Alastair Campbell· Host1:02
And looking into FTSE 100 performance shows that this maxim would only have worked for two of the last 10 years.
Rory Stewart· Host1:08
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Alastair Campbell· Host1:22
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Rory Stewart· Host1:27
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