Varoufakis: Troika and Greek oligarchy ‘in bed’

Juncker is insignificant, says Varoufakis

Former Greek Finance Minister Yianis Varoufakis said debt relief under the current agreement Greece signed with its EU creditors is ‘a lost cause’, in an interview to site ‘’. The erratic Marxist accuses the Greek oligarchs of being in ‘cahoots’ with the ‘Troika’ (European Commission, European Central Bank and the IMF). He believes Greece will resemble Kosovo in the next 5 years. “If we continue along the lines of this MoU (we’ll have) Kosovization: By which I mean we become more and more of a protectorate that has the Euro-like Kosovo-but our only export will be people and tourism, with zero investment in productive activities, banks that operate only as vaults and not as credit institutions, and fire sales everywhere”, he says. Varoufakis comments favorably on German Finance Minister Wolfgang Schauble saying that even though he (Varoufakis) disagrees with him Schauble has a consistent vision of Europe. “Schauble is right on one respect: The current Eurozone is not sustainable.”, Varoufakis says. When asked to talk about European Commission President Jean-Claude Juncker, the former Greek Finance Minister replies in a very demeaning way: “Juncker doesn’t exist, he’s just a figurehead of a Commission that has subsided so deeply in terms of significance”. On Tsipras Varoufakis said his former PM won government but he has to prove he can be in power.