Varoufakis: Greek debt cannot be paid off; country should have been ‘ready for drachma’

21 August 2018
595 Views

Former Greek finance minister Yanis Varoufakis struck again on Monday by saying there’s absolutely “no chance for Greece’s public debt to ever be repaid”, speaking on the same day as the more-or-less modest commemoration of the country’s official exit from the third successive bailout.

The mercurial Varoufakis, the most controversial figure to emerge on the European political scene from the six months of shambolic negotiations between the new Tsipras government at the time and institutional creditors, added that the thrice bailed-out country should have been “ready for the drachma… in order to restructure the Greek debt.”

Speaking to the Athens-based Skai broadcaster, the self-described “erratic Marxist” said that what’s catastrophic for Greece is not a return to a national currency but an ongoing “brain drain”, unemployment and over-taxation.

Varoufakis again blamed institutional creditors (the one-time troika) for Greece’s woes, beginning in 2010, and called the European Stability Mechanism a “wicked mechanism aimed to destabilize the Greek economy”.

True to his “maverick” political image, Varoufakis also promised that his Diem 25 political grouping will participate in the next Greek general election.

You may be interested

Ankara blocks inspection of Turkish ship by German frigate in Libya (video)
SLIDE
shares19 views
SLIDE
shares19 views

Ankara blocks inspection of Turkish ship by German frigate in Libya (video)

makis - Nov 23, 2020

Ankara has prevented a German frigate, participating in the European Union’s “IRINI” mission, from inspecting a suspected Turkish cargo ship…

Biden Deputy Chief of Staff pushed “mandatory” firearm buybacks
WORLD
shares28 views
WORLD
shares28 views

Biden Deputy Chief of Staff pushed “mandatory” firearm buybacks

Panos - Nov 23, 2020

Jennifer O’Malley Dillon, would-be White House Deputy Chief of Staff for a Biden administration, managed Robert ‘Beto’ O’Rourke’s 2020 campaign and pushed…

The Greek island with the 235 Churches you must visit (drone video)
GREECE
shares39 views
GREECE
shares39 views

The Greek island with the 235 Churches you must visit (drone video)

Panos - Nov 23, 2020

Greece has been blessed to be sprinkled with hundreds of islands around its shores, with each offering visitors something unique.…

Leave a Comment

Your email address will not be published.