NEWS

Varoufakis urges Tsipras to ditch negotiations with lenders

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.

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