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Yanis Varoufakis: "The coronavirus has intensified the euro crisis"

The renowned economist speaks to openDemocracy about the European Central Bank's response to the coronavirus outbreak.

Yanis Varoufakis
20 March 2020

On 18 March the European Central Bank (ECB) launched an emergency €750bn ($820bn; £700bn) package to ease the impact of the coronavirus pandemic.

This came just one week after the ECB president, Christine Lagarde, was widely criticised for saying it was "not the job of the ECB to close bond spreads", which caused borrowing costs to spike in some of the countries worst affected by the pandemic.

Yanis Varoufakis, the renowned economist, Greek MP and DiEM25 co-founder, spoke to openDemocracy about the ECB's latest intervention, and how the coronavirus pandemic is intensifying Europe's pre-existing economic problems.

Watch the interview below, and subscribe to our Youtube channel:

What can a world in crisis learn from grassroots movements?

For many communities, this is not the first crisis they’ve faced. The lockdown feels familiar to those who have years of experience living and organising in the face of scarce resources and state violence.

So it’s not surprising that grassroots and community activists mobilised quickly in response to COVID-19, from expanding mutual aid groups and launching creative campaigns to getting information out to women at risk of domestic violence.

What can the world learn from these movements to get us through this crisis – and help us rebuild a better world?

Join us on Thursday 2 July at 5pm UK time/12pm EDT for a live discussion on these urgent questions.

Hear from:

Mona Eltahawy Feminist author, commentator and disruptor of patriarchy. Her latest book ‘The Seven Necessary Sins For Women and Girls’ took her disruption worldwide.

Crystal Lameman Member of the Beaver Lake Cree Nation and campaigns against the exploitation of her people and of their land, holding the government of Canada accountable for violations of their treaty rights.

Elif Sarican Activist in the Kurdish Women's Movement, host and producer of Pomegranate Podcast.

Chair: Mary Fitzgerald Editor-in-chief, openDemocracy.

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