Yanis Varoufakis: Democratizing the EU & Transnational Corporations

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Yanis Varoufakis: Democratizing the EU & Transnational Corporations


In this video former finance miniser of Greece and founder of the Democracy in Europe 25 Movement (DiEM25), Yanis Varoufakis, explains why the European Union lacks democracy and why there is a fundamental need to implement it on all levels. Varoufakis also addresses whether corporations need to be reformed in order to improve the economic situation in Europe.


Varoufakis on Democratizing the EU & Transnational Corporations

For the full transcript-text of this video,  click here.


Notable excerpts from the video:

Varoufakis on the state of democracy in Europe:

The Federal Republic, the government, can be gotten rid of by the Bundestag. In Europe, there is no such mechanism. At all. So, there is no democratic deficit here in the European union. It’s not that the European Union is not sufficiently democratic. Imagine for a moment, that you have a man, or a woman, on the moon in a space suit. And he takes the helmet off. “Oh, there is an air deficit”. There is no deficit; there is no air. The same would apply in the European Union. There is no democracy – there is indeed the opposite: contempt for democracy.

Varoufakis on the idea of democratizing multinational-corporations:

Stop this regime of the race to the bottom, where they can go to Ireland and pay 12% corporation tax in order to avoid the German tax. Then, even that they don’t pay, because they have a deal with the Netherlands where the money goes before it goes to the Caribbean. And in the end they end up paying 1%. So, how about, before we democratize them, make them pay where they sell.

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  1. Second excerpt has not been transcribed correctly – it should be “Ireland”, not “an island”….
    Just sayin’.
    🙂

  2. Varoufakis is ludicrously trying to change the leopard’s spots….

    Capitalism, the ideology followed by the EU & Transnational Corporations, is based on autocracy and incursion.
    Its followers have succeeded by force or by stealth, both forms of societal and mentality invasion, by an oligarchy.

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