“Debt is to capitalism what hell is to Christianity: unpleasant, and essential.” Speaking in a new documentary series, Yanis Varoufakis explains how elites have used capitalism’s own structural conditions to terrorize populations into submission and advance their counterrevolution. For the former Greek finance minister, austerity was not a necessary response to crisis but an instrument of “class war,” used to redesign economies in Europe and beyond.

Raoul Martinez’s series In the Eye Of The Storm: The Political Odyssey of Yanis Varoufakis recounts the resistance against this process — and the ways in which the European institutions’ dogmas set the EU on its current right-wing course. In an interview for the new print issue of Jacobin’s German-language magazine, David Broder spoke to Varoufakis about his time as finance minister, the reasons why recent crises have mostly benefited the far right, and the decline of Western hegemony globally.