The Greek state is given, by the European Union and IMF, more than $100 billion. That sounds very much like a bailout. But it isn't, because the question is - what did the Greek state do with this money? Finance pension funds? Pay unemployment benefits to Greek workers? Invest in infrastructure? Of course not. The money went straight to French and German banks.

Economist and former Finance Minister of Greece Yanis Varoufakis challenges the bankrupt ideology of Europe's debt/austerity regime - from the unbearable price of Eurozone-imposed "order," to the cynical morality play of bank-bound bailouts - and warns that the EU's current financial crisis is setting the stage for a much larger (and historically familiar) conflict across the continent - and beyond.

Yanis is author of And the Weak Suffer What They Must? Europe's Crisis and America's Economic Future from PublicAffairs.

Transcript via Antidote Zine