Varoufakis: Brexit Would Speed Up EU Disintegration

The video discusses the European Union's ongoing disintegration, accelerated by Brexit, and its deflationary impact on Europe and Britain. It critiques the eurozone's architecture post-2008 crisis, highlighting short-term solutions like the European Stability Mechanism and banking union, which are seen as destabilizing. The video also examines CDO-like euro bonds and systemic issues, emphasizing the embedded problems within the solutions created over the past years.

What is the potential impact of Brexit on the European Union according to the video?

• It will lead to the EU's expansion.

• It will have no impact on the EU.

• It will accelerate the EU's disintegration.

• It will strengthen the EU's unity.

What was a major issue with the eurozone's architecture during the 2008 financial crisis?

• It was too reliant on external aid.

• It was unable to handle short-term shocks.

• It was too focused on long-term solutions.

• It was overly centralized.

What is a criticism of the European Stability Mechanism mentioned in the video?

• It is too centralized.

• It is overly transparent.

• It is destabilizing.

• It is too reliant on a single currency.

According to the video, what is a flaw in the banking union?

• It is only effective in practice, not in name.

• It is only effective in name, not in practice.

• It is too reliant on international banks.

• It is too focused on small banks.

What is a common issue between the European Stability Mechanism and Lehman Brothers' CDOs?

• Both are too reliant on a single currency.

• Both are too focused on short-term gains.

• Both have a vicious correlation between default probabilities.

• Both are overly transparent.