Greece reforms to fail – Varoufakis

unique times- Greece reforms to fail – Varoufakis

Yanis Varoufakis, the former Greek Finance Minister has stated that the reforms that are being imposed on Greece by the creditors will fail. He said that Greece is to witness its own biggest fall which will be one of its greatest disasters of macroeconomic management ever. It is also reported that the German parliament has approved the opening of negotiations on Friday. It is believed that the bailout could total to an amount of 86 billion euro in exchange for austerity measures. Mr. Varoufakis has stated that the program for Greece has already fallen. He had resigned earlier this month from his post. He also declared that the Greek Prime Minister Alexis Tsipras who had admitted himself that he does not believe in the terms of the bailout has no other option than to sign. Mr. Tsipras had earlier announced a cabinet reshuffle which sacked several ministers who had voted against the reforms in the parliament this week. The European Council had approved the 7 billion euro bridging loan for Greece from the EU-wide emergency fund.

Bejoy George.

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