Looks like he lost control of his gas pedal.
Even so, to have the wheel cranked that severely is a little much.
On a related note, I love seeing footage of non- North American cars. Just so different and fun-looking - here it's a sea of black, grey, and beige (sorry, "champagne") colored clones. Even our reds and blues are subdued. I know there is only the yellow one in this vid, but watching others it seems Euro cars have more character.
I'd say his foot slipped off the clutch while the gas was down a bit. Definitely not just gas.