Former Greek Finance Minister Yanis Varoufakis recently told Business Insider what he believes is the "single largest threat to the global economy": Europe.
"Europe exports deflation — it exports crisis," Varoufakis told the news outlet in a new video. "We are going to have to become what China was 10 years ago only times 20 because we are a much bigger economy than China was 10 years ago."
"So in other words, we have to sell, sell, sell to the rest of the world and not buy from the rest of the world," Varoufakis continued. "This is exporting crisis, exporting deflation, to the rest of the world."
"If we succeed in doing this, we destroy the rest of the world. If we don't succeed in doing this, we are imbalanced," he concluded. "Europe is a clear and present danger for the world economy."
Watch the video below via Business Insider:
(H/T: Business Insider)
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