Varoufakis urges Tsipras to ditch negotiations with lenders


Former finance minister Yanis Varoufakis has called on Prime Minister Alexis Tsipras to turn his back on Greece’s lenders, adopt a parallel payment system that he was responsible for designing in 2015, and to unilaterally restructure the European Central Bank loans it holds.

“This two-pronged preparation is the only way to prevent another excruciating retreat by the prime minister in the short term and [German Finance Minister Wolfgang] Schaeuble’s plan in the long term,” Varoufakis wrote in an op-ed in Efimerida ton Syntakton on Saturday.

In his article, Varoufakis suggested that Schaeuble’s strategy is to lead Greeks to the point of exhaustion so they ask to leave the euro themselves.