Greece’s New Finance Minister: Bitcoin ‘Highly Problematic Currency’
The Finance Minister of Greece’s new radical left-wing government, while at the center of anti-austerity financial policy, is in no way optimistic about Bitcoin, it has emerged. In an article on his website blog from April 2013, Yanis Varoufakis discusses the “impossibility” of a decentralized currency being controlled “apolitically,” and describes this as a “dangerous fantasy.” He stated: “[T]here can be no de-politicized currency capable of ‘powering’ an advanced, industrial society.” Varoufakis has inherited Europe’s worst-performing economy, and will seek to end the austerity measures....
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Financial instability in Greece may eventually drive more people towards alternative financial solution. According to the IMF, Greece has a maximum of three weeks to deal with its looming debt. For the time being, the government suffers from a deadlock in their talks with creditors.Either Greece agrees to additional austerity, or introduces fresh elections. Neither solution is worth considering for the government right now, although a solution has to be found. The IMF predicts Greece’s debt load will become “explosive’ in the next 15 years. Everyone who has kept an eye on the financial....
The Indian finance minister has finally revealed clues about what is in the cryptocurrency bill that is due to be introduced in parliament. Mentioning no crypto ban, she said that the government will take “a very calibrated” approach to cryptocurrencies. Indian Finance Minister Provides Clues on Upcoming Crypto Regulation Indian Finance Minister Nirmala Sitharaman shed some light on the upcoming crypto regulation in her country during CNBC-TV18’s IBLA townhall Friday. This is the first time she talked about the content of the bill and the Indian government’s plans....
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....
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....
India’s finance minister has informed parliament that the central bank, the Reserve Bank of India (RBI), wants cryptocurrencies to be prohibited. However, she noted that “any legislation for regulation or for banning can be effective only after significant international collaboration.”
Indian Finance Minister on Crypto Ban and Regulation
Indian Finance Minister Nirmala Sitharaman answered some questions about cryptocurrency on Monday in Lok Sabha, the lower house of India’s parliament.
Parliament Member Thirumavalavan Thol asked the finance....