Varoufakis condemns bailouts, confirms plans for EU bridge pact

Greek Finance Minister Yanis Varoufakis confirmed on Monday he would go to the Eurogroup of euro zone finance ministers with a request for a bridge agreement to tide Greece over until a new debt pact with international lenders could be sealed.

But the outspoken leftist was unwavering in dismissing bailouts and the austerity that went with them, saying earlier celebrations of loans had been a «toxic dream» and accusing the European Central Bank of losing control over monetary policy by allowing deflation.

“The end of the crisis will not come if we say yes to another (bailout) program,» he told parliament. «The truth is that this (bailout) program … was destined to failure no matter who was implementing it.”