Greece Minister Yanis Varaufakis Admits Experimenting with Parallel Payment System
Former Greece Finance Minister Yanis Varaufakis has confirmed to have been involved in the development of a parallel payment system in the wake of the nation's debt crisis. As per a teleconference transcript, dating back to last December, obtained by the right-wing Greek daily Kathimerini, the said Syriza party member had created a contingency plan only after getting the nod from the Prime Minster Alexis Tsipras. The so-called plan was focused on creating the Euro liquidity if, in case, the European Central Bank calls to cut off the emergency funding to Greece. "The prime minister, before....
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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....
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....
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....
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....