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Describing the event as a “complete failure” on his part, he resigned as finance minister in 2015 after Greek Prime Minister Alexis Tsipras agreed to the terms of the EU’s debt repayment plan.Two people have been killed, and more than 200 injured, after a powerful earthquake struck off the coast of Greek islands and Turkey, triggering a tsunami.Mr Varoufakis, who took on EU institutions over Greek debt repayments in 2015, said companies such as Google and Facebook, for the first time ever, are having their capital bought and produced by consumers. “So now there is no doubt capital is being socially produced, and the returns are being privatised.“Firstly the technologies were funded by some government grant; secondly every time you search for something on Google, you contribute to Google’s capital,” he said. This with artificial intelligence is going to be the end of capitalism.” Warning Karl Marx “will have his revenge”, the 56-year-old said for the first time since capitalism started, new technology “is going to destroy a lot more jobs than it creates”.The island’s regional governor said the “main priority at the moment is saving lives,” with at least 20 people in hospital with serious injuries.Greek health officials said 13 people – including a Norweigian tourist – had been airlifted to hospitals in Athens and on the islands of Rhodes and Crete following the earthquake.
'That's the translation of an American expression, and I don't like anything about it.' Earlier today French President Emmanuel Macron called on members of the European Union to reboot the 60-year-old bloc with sweeping political reforms or risk a 'slow disintegration.' Elected by a landslide in May, the 39-year-old Macron has vowed to back efforts for closer integration in the EU, which has been rattled by a financial crisis, migration issues, a populist backlash and Britain's decision to leave.Former Greek finance minister Yanis Varoufakis has claimed capitalism is coming to an end because it is making itself obsolete.The former economics professor told an audience at University College London that the rise of giant technology corporations and artificial intelligence will cause the current economic system to undermine itself.A statement from the travel trade association Abta said Kos Airport has reopened following a brief closure on Friday morning.The organisation also urged holiday makers to contact their travel company for updates.