Yanis Varoufakis Warns Euro Will Fail and Will Bring EU Down With it

Appearing on the TV program BBC This Week, former Greek finance minister Yanis Varoufakis launched a savage attack on the EU, claiming it is destined to fail because the euro is doomed.

The BBC’s Andrew Neil asked him what he thinks about the EU, to which he replied it was “utterly unsustainable”. Varoufakis, who battled the Brussels bloc over the Greek debt repayments, said the euro is made to fail.

Appearing on BBC This Week, he said, “The eurozone is the core of the European Union and the euro is a currency designed to fail. Not intentionally, unintentionally perhaps. And if the euro fails, the European Union is gone.”

Varoufakis then claimed that France is “condemned to stagnant” and there is nothing President Macron can do to prevent its failure. He said, “In the long-term, given the relative structure of [the French] economy, and that of Germany.

“When you fuse together such desperate economies by means of a fixed exchange rate regime then France, whatever President Macron does, is going to be a cesspool of discontent.”

Varoufakis believes instead that the euro is preventing France from flourishing. He said that France can never be competitive, nor can they create jobs that are necessary to “stabilise the political economy in France”.