Yanis Varoufakis: “EU is particularly good at doing a terrible job”
Former Greek Finance Minister Yanis Varoufakis has described the measures taken by the EU to settle the economic crisis in Greece as a “terrible job.” The comment comes as Greece agrees to new reforms that are set to help the country qualify for cheaper loans.
“Isn’t it yet another piece of evidence that the European Union is particularly good at doing a terrible job, but handling what should be a very manageable crisis,” Varoufakis told CNN on Tuesday.
He noted that, in fact, the goals set for Athens are nearly impossible to reach. “The people at the IMF [International Monetary Fund]… told us that the Greek debt is unsustainable and the austerity that is being [imposed] upon Greece is catastrophic for the program itself.”
The minister added that German Finance Minister Wolfgang Schauble “is determined” to get Greece out of the EU and that the bailout program was initially designed to fail. Varoufakis stressed that he obtained the information from Schauble himself.
“Merkel simply wants to extend and pretend until the German election is out of the way. The Greek government pretends it’s going to fulfill its target… but won’t do it. Yet again. It’s Europe.”
When asked whether the current Greek government plans to leave in case it doesn’t make any progress, Varoufakis said that it would depend on the negotiations between Merkel and Schauble.
“Schauble wants Grexit, Merkel doesn’t want Grexit. They haven’t worked it out… Until they make up their mind, this government is going to stay in power,” the minister noted.
cant argue with that!
“The people at the IMF [International Monetary Fund]… told us that the Greek debt is unsustainable and the austerity that is being [imposed] upon Greece is catastrophic for the program itself.”