Varoufakis’ fans get ready! The ex finance minister is preparing to launch a European movement that will develop into a political party. Yanis Varoufakis will push for a Pan-Εuropean network for fight austerity. Instead of running for the upcoming elections, he will put his energy into political action on European …
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PM Tsipras: I ordered Varoufakis to prepare a contingency plan
Prime Minister Alexis Tsipras gave full coverage to former Finance Minister Yanis Varoufakis and said that he ordered the ex FinMin to work out an emergency contingency plan but not a Grexit plan. Speaking to the Greek Parliament after a question posed by PASOK leader Fofi Gennimatas, Tsipras said among …
Read More »Varoufakis’ Gate: the Parliament will decide if to indict him or not
The major of Stylida city and a lawyer filed lawsuits against former Finance Minister Yanis Varoufakis. The two blame the ex FinMin for “actions that led to economic measures” and “high treason”. A third complaint has been filed for the “hacking of taxpayers’ registration numbers (AFMs). A fourth lawsuit has been …
Read More »Audio uploaded: Varoufakis’ Plan B and “parallel banking system within the eurozone”
The controversial audio excerpt from the conference call between former Finance Minister, Yanis Varoufakis with international hedge funds representatives has been uploaded on internet. In the audio Varoufakis speaks of his Plan B project that contains among others also “hacking taxpayers’ registration numbers” and the creation of a “parallel banking …
Read More »Varoufakis’ Plan B: Hack FinMin’s software, introduce parallel banking system
The first scenario that wanted ex Energy Minister Lafazanis to seize the Greece’s assets and arrest the governor of Bank of Greece did not thrill the public. Now a new scenario with much more suspense claims that former Finance Minister Yanis Varoufakis wanted to hack the Ministry’s software, hijack taxpayers’ …
Read More »FinMin Schaeuble suggests Greece should issue IOUs – Did he agree with Varoufakis, after all?
German Finance Minister Wolfgang Schaeuble suggested that Greece should issue IOUs in order to meet some of its domestic payment obligations. According to information of German daily Handelsblatt, Schaueble suggested the IOUs option during discussions with other euro zone finance ministers at the Eurogroup meeting yesterday, Monday. Citing eurogroup participants, …
Read More »Varoufakis reveals his secret plans: Parallel currency IOUs, Grexit, Drachma
Former Finance Minister Yanis Varoufakis had a plan: once the ECB forced Greece’s banks to close, he could act unilaterally and 1. issue IOUs 2. apply a ‘haircut’ to the Greek bonds issued to the ECB in 2012, 3. reducing Greece’s debt and 4. seize control of the Bank of …
Read More »Fair compromise: Tsipras fired Varoufakis; now Merkel’s turn to send her radical FinMin home
Here we go again: The three institutions received and evaluated the Greek proposals and sent their commendation to the Eurogroup. In their assessment, the creditors reportedly accept Greece’s proposals as basis for negotiations for a new agreement but they also say that Greece must do much more in form of …
Read More »FinMin Yanis Varoufakis resigns, background
Finance Minister Yanis Varoufakis submitted his resignation on Monday morning after Greeks rejected creditors’ proposal with 61.31%. Below is what the “star” FinMin wrote in his blog. 11:25 am The name of the new Finance Minister is to be announced after the Political Leaders Council currently conveying under President Pavlopoulos. …
Read More »Varoufakis “will resign” if Greeks vote YES, prefers “to cut arm off than deal without Debt Restructuring”
Finance minister Yanis Varoufakis has stated that he will resign if the Greek people vote ‘Yes’ in Sunday’s referendum. Speaking to Bloomberg TV on Thursday morning, Varoufakis said among others: * “If a yes vote, I will not be finance minister on Monday night * I prefer to cut my …
Read More »Varoufakis threatens top EU court action to block Grexit
Finance Minister Yanis Varoufakis threatened that Greece can take the EU and the Eurozone (?) to European Court of Justice in order to block a Greek exit from the euro area. “They cannot drive us away from the eurozone,” Varoufakis told UK’s Telegraph. The Finance Minister said that the …
Read More »UPD2 Varoufakis to BBC: Gov’t examines capital controls and closing banks on Monday
Greek Finance Minister reportedly told BBC Radio 4, that the government will examine imposing capital controls as of Sunday night and closing banks as of Monday. Varoufakis statement comes as the board of European Central Bank is currently deciding whether it will continue Emergency Liquidity Assistance to Greek banks. It …
Read More »Eurogroup: Here is Varoufakis’ proposals for exiting Greece’s crisis
Greek Finance Minister Yanis Varoufakis uploaded on his blog the analytical proposal he presented at the Eurogroup meeting on Thursday. IT is th eofficial proposal of Greece to solve the crisis and achieve an agreement with the country’s lenders. The proposal is based on three pillars: a package of reforms …
Read More »Varoufakis meets Schaeuble, urges Merkel to deliver a “Speech of Hope” for Greece
Greek Finance Minister Yanis Varoufakis and his German counterpart Wolfgang Schaeuble meet Monday morning in Berlin. The meeting was reportedly arranged over the weekend, allegedly after European Commission President Jean-Claude Juncker refused to respond to a phone call request by Prime minister Alexis Tsipras. So, what does Varoufakis seek from …
Read More »Varoufakis: “Agreement by June 30th”; reveals he was threatened with “capital controls” by European official
Finance Minister Yanis Varoufakis told media Thursday morning that an agreement with Greece’s creditors can be reached by “June 30th.” The date is some 10 days after Greece has to meet its obligations to the IMF with the payment of four tranches (5-19 June). The creditors have repeatedly said: no …
Read More »Varoufakis’ choice threatens Varoufakis, as SYRIZA opposes Panariti’s appointment to IMF
Elena Panariti, an economist, was appointed by Finance Minister Yanis Varoufakis to represent Greece at the International Monetary Fund. Panariti’s choice followed a voting at the Finance Ministry. She has apparently had the best CV among the other candidates, she had the best skills for this position. In terms of …
Read More »Varoufakis’ not so secret notes during meeting of Greece’s negotiation team with PM Tsipras
What was on the agenda of Finance Minister Yanis Varoufakis at the meeting of Prime Minister Alexis Tsipras with the Greek negotiation team? And thus short before the Brussels Group, the Euro Working Group and the Eurogroup, short before the crucial meetings for the crucial agreement between Greece and its …
Read More »Varoufakis plans small tax on ATM and bank transactions? No, it was the Brussels Group proposal
Finance Minister Yanis Varoufakis dropped a small bombshell on Tuesday. Speaking to reporters, he said that a small tax may be imposed on transactions from ATMs. While Greeks tried to recover from the shock, private MEGA TV reported that the small tax may be 1‰ to 2 ‰ , that …
Read More »Varoufakis to cut Greek FSF directors’ juicy salaries by 40%. But…
Greek Finance Minister Yanis Varoufakis announced a 40% cut to the salaries of broad of directors of the Greek Financial Stability Fund (HFSF). The decision refers to the salaries of the HFSF President, CEO, deputy CEO etc. Varoufakis stressed that the cuts will “save 300,000 euro per year” for the …
Read More »Varoufakis saw his Dream V.A.T. rates collapsing in thousand pieces & percentages
Greece got really and deeply lost in Value Added Tax rates. Monday night Finance Minister Yanis Varoufakis announced his V.A.T. overhaul plan with two rates of 9.5% and 18% for cash payments and 3% “discount on V.A.T.” for non-cash payments. Once Tuesday broke in, the Greek Finance Minister saw his …
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