After months of grueling battles between the Troika and Greece, another chapter has come to a close. Alexis Tsipras caved in to the Troika’s demands. Outwardly, the Troika seems triumphant on the back of Merkel’s iron fist. Whether it was Merkel that won the battle or the surreptitious hands of powerful banksters is still a matter of conjecture. The bankers cannot allow Greece to default at this moment as the domino effect on trillions of derivatives will take the whole financial system down. The can has to be dribbled again down the road until the opportune moment.
Yanis Varoufakis was anathema to the banksters. His departure from his finance portfolio was probably engineered. He has little choice but to comply. Now that he is no longer in the way of the banksters, his comments would mean little to influence Greek’s politics. Some will even comment that whatever he says now is not only of little relevance, but also laced with tinges of sour grapes. Still, it is worthwhile to listen to what he has to say regarding the turn of events.
Former Greek Finance Minister Yanis Varoufakis has told the BBC that economic reforms imposed on his country by creditors are “going to fail”, ahead of talks on a huge bailout.
Mr Varoufakis said Greece was subject to a programme that will “go down in history as the greatest disaster of macroeconomic management ever”.
The German parliament approved the opening of negotiations on Friday.
The bailout could total €86bn (£60bn) in exchange for austerity measures.
In a damning assessment, Mr Varoufakis told the BBC’s Mark Lobel: “This programme is going to fail whoever undertakes its implementation.”
Asked how long that would take, he replied: “It has failed already.”
Mr Varoufakis resigned earlier this month, in what was widely seen as a conciliatory gesture towards the eurozone finance ministers with whom he had clashed frequently.
He said Greek Prime Minister Alexis Tsipras, who has admitted that he does not believe in the bailout, had little option but to sign.
“We were given a choice between being executed and capitulating. And he decided that capitulation was the optimal strategy.”
– BBC News
Greece 1.0 is over. Coming next… Greece 2.0.
There is a way whichseemethright unto a man, but the end thereof are the ways of death.