- The former Greek finance minster has said his country’s economic reforms are “going to fail”, just as formal talks on a huge bailout are set to begin.
- In a BBC interview, Yanis 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, Varoufakis said: “This programme is going to fail whoever undertakes its implementation.”
- Asked how long that would take, he replied: “It has failed already.”
- Varoufakis resigned earlier this month, in what was widely seen as a conciliatory gesture towards the eurozone finance ministers he had frequently clashed with.
- 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 ultimate strategy.”
- Tsipras has announced a cabinet reshuffle, sacking several ministers who voted against the reforms in parliament this week.
Source:BBC
