How Greece Was Lost: ‘We Were Set Up’ – Yanis Varoufakis
With the details of the deal struck by Greece still hidden from the public, former Greek Finance Minister Yanis Varoufakis spills the beans on what really happened behind closed doors, and how Greece was never supposed to get above water again. A week after he resigned as Greece’s Finance Minister, Yanis Varoufakis had very little to say that is positive about the ordeal in an hour-long interview with The New Statesman. He spent five months working on a deal with the ECB, the European Commission and the IMF, otherwise known as “The Troika.” Like fighting a three-headed monster with a dull....
Related News
Greece faces a €1.5 billion payment to the IMF expires on June 30, and to make matters worse The Eurozone portion of Greece's €245-billion bailout expires on the same day. This huge debt and interest is totally unsustainable for Greece to maintain and Greece has no more to give. This could mean Greece exclusion from the Eurozone. Would it be a good idea for Greece to renounce the euro and adopt bitcoin? This would mean giving up their sovereign monetary policy. However, the finance minister of Greece, Yanis Varoufakis, believes that because Bitcoin is deflationary, it would be bad for....
Normally, this would not be even close newsworthy these days. A three-way conversation, a dual interview, conducted on ABC National's "Late Night" radio program by host Phillip Adams with Andreas Antonopoulos. With the audio clip posted on Yanis Varoufakis' blog back in March of 2014, the program itself seems to have taken place late in 2013. The bitcoin price was constantly referred to as $1000 USD per Bitcoin, which hasn't been the case since late 2013. Only an awful lot has changed since the time of this debate/interview, which makes this seemingly old news extremely relevant as 2015....
Blockchain technology firm Tembusu Systems has hit back at claims Greek finance minister Yanis Varoufakis' role as its advisor represents a "conflict of interest" for the politician. On Monday Greece's weekly paper Proto Thema produced emails from a company representative claiming Professor Varoufakis was still "affiliated to Tembusu in an advisory role" as recently as March 2015. This role "raises legitimate questions about a conflict of interest in Varoufakis' support of an extreme albeit innovative method for financial transactions," the paper said. In a statement posted online, Tembusu....
Greece has never been accused of being an economic savant over the last generation. Using the Drachma for the 3rd time from 1951 to 2001, it's value declined to the point where Greece joined the E. U.'s new multi-national Euro system in 2002. Greece followed up with three distinct recessions in each year from 2007 through 2009. This required a massive bail-out in 2010, and "austerity measures" ever since for the citizens to live up to, while the bankers who caused the issues continue to mismanage the economy unabated, asking for more loans as we speak. These consistent economic issues have....
Earlier in July, Bitcoin Magazine reported that former Greek finance minister Yanis Varoufakis, who resigned after the Greek referendum on July 5, expressed his disappointment with the outcome of the Greek crisis. Now Kathimerini, a New York Times-branded daily newspaper published in Athens and distributed with the International New York Times in Greece and Cyprus, revealsthat Varoufakis was authorized by Greece's Prime Minister Alexis Tsipras last December to look into a parallel payment system that could eventually work as a parallel banking system. Before becoming Finance Minister,....