New Greek Finance Minister Varoufakis has many Opinions on Bitcoin
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....
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In the wake of the voting yesterday, Greek Finance Minister Yanis Varoufakis realized that he would not be able to stay on as finance minister. He explains it as such on his blog, saying: Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted 'partners', for my... 'absence' from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason, I am leaving the Ministry of Finance today. Kostas Koutsaftikis / Shutterstock.com. This could be an....
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,....
According to former Greek Finance Minister Yanis Varoufakis, prior to making a deal with European creditors, he was authorized to find an alternative way to keep the country's financial health in good standing. He assembled a team, and together they hacked into his own Ministry and got the taxpayer database along with other sensitive information. They intended to create Euro liquidity for Greece one way or another. Varoufakis admitted as much recently in London, according to the Telegraph. He also told them: The context of all this is that they want to present me as a rogue finance....
Former Greek finance minister Yanis Varoufakis has confirmed that he masterminded a “parallel” currency system while in power, which could be switched from euro to drachma “at the flick of a switch.” The scheme involved a covert team of five, Varoufakis ordering them to break into his country’s own tax ministry’s computers to access Greek nationals’ tax details. “This was very well developed. Very soon we could have extended it, using apps on smartphones, and it could become a functioning parallel system,” he commented to UK newspaper the Telegraph. “The prime minister, before we won the....
Commentary by Giulio Prisco. One of the first actions of Greek PM Alexis Tsipras, after the January 25 elections that brought the "anti-establishment" party Syriza to power, was to appoint renowned economist Yanis Varoufakis as Finance Minister. Since the elections, the European media has been full of reports about the financial situation in Greece, and the efforts of Tsipras and Varoufakis to renegotiate the Greek debt with European Union (EU) authorities. Rumors of a possible "Grexit," the exit of Greece from the EU, keep surfacing. Syriza - officially known as "Coalition of the Radical....