Varoufakis Speaks Out Against Greek Bailout Agreement Reached by EU Leaders


Former Greek finance minister Yanis Varoufakis, who resigned after the Greek referendum on July 5 in a surprising move interpreted as a conciliatory move toward Greece’s creditors, gave his first interview after his resignation, and before the announcement of the deal between Greece and European Union (EU) leaders. Speaking to The New Statesman, Varoufakis expressed his disappointment with “the complete lack of any democratic scruples, on behalf of the supposed defenders of Europe’s democracy.” (Read the full transcript of Varoufakis interview.)

Of course, Varoufakis is referring to the EU leaders. In the interview, he gives a long account of the months of negotiations since he became Greece’s finance minister and internal disagreements in the Greek government. He also speaks up in very blunt terms, saying the Eurogroup is “completely and utterly” controlled by Germany, Greece was “set up,” and last week’s referendum was wasted.

“[By] the time the liquidity almost ran out completely, and we were in default, or quasi-default, to the IMF, they introduced their proposals, which were absolutely impossible … totally non-viable and toxic,” said Varoufakis. “So they delayed and then came up with the kind

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