The article discusses why Keynesian economic policies did not work during the recent global economic crisis. It looks at how countries like Greece faced a severe fiscal crisis, leading to a sovereign crisis. This crisis extended to other countries like the US and Japan due to high state debt. The shift from Keynesian policies to neo-liberal austerity measures after a brief period of economic growth was also highlighted. The study emphasizes the structured debt crisis in financialized capitalism and the challenges faced by labor power, financial institutions, and states.