BUSINESS

Glenn Kim presents Varoufakis’s alternative currency plan

ELENI VARVITSIOTIS

TAGS: Economy, Politics

The plan for a parallel currency that the Greek government and the finance minister of the time, Yanis Varoufakis, were planning in 2015, were laid bare with all the details by his close associate at the time, Glenn Kim on Monday at an Italian parliamentary event organized by Beppe Grillo’s Five Star Movement.

According to the plan, the government would start by handing civil servants vouchers amounting to 10 percent of their monthly salary, to be used exclusively for paying debts to the tax authorities, just like food vouchers are used. If the system had been successful it would have been expanded to other state payments and in other sectors.

Kim, who is of Korean extraction and remains today one of the main advisers to current Finance Minister Euclid Tsakalotos, spoke in detail about the “fiscal currency,” as he called it, which, “if we had more time, could have been realized,” as he said.

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