In an interview to BBC, former Greek Finance Minister Yanis Varoufakis expressed his disbelief in the potential of the bailout deal that Greece agreed with international creditors on Tuesday.
“Ask anyone who knows anything about Greece’s finances and they will tell you this deal is not going to work,” he noted.
Varoufakis also claimed that Greece’s new Finance Minister, Euclid Tsakalotos, said “more or less the same thing” and that German Finance Minister Wolfgang Schaeuble revealed to the Bundestag his own view that the deal will fail.
Varoufakis has consistently called for a haircut on Greece’s debt, a concept which is now vocally supported by the International Monetary Fund (IMF).
“The International Monetary Fund is throwing up its hands, collectively despairing at a program that is simply founded on unsustainable debt… and yet, this is a program that everybody is working towards implementing,” he said.
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