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Varoufakis drops EUROLEAKS, exposes authoritarian EU (Video)

The Duran Quick Take: Episode 505.

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss Greek former Minister of Finance and Secretary-General of left-wing political party MeRA25, Yanis Varoufakis’ Euroleaks audio file release.

Varoufakis leaked audio recordings of secretive Eurogroup talks with Greece during a tense negotiation for debt relief and restructuring.

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Via RT…

The former finance minister of Greece, Yanis Varoufakis, has released a cache of audio files, secretly recorded in 2015 during the bailout talks with the Eurogroup – a powerful group of eurozone’s finance chiefs.

The recordings and their transcripts were released by Varoufakis on the website of his ‘pan-European’ DiEM25 party on Saturday. The files –dubbed ‘Euroleaks’– were recorded between February and July 2015, when cash-strapped Athens was entangled in painful talks with its creditors.

In 2015, Varoufakis was the chief negotiator for then-ruling Syriza party, dealing with the Eurogroup and those behind it – the so-called ‘troika.’ It comprises the three main lenders of the eurozone nations – the European Commission, the European Central Bank and the International Monetary Fund.

While the Eurogroup is de-jure an informal group, it is actually a powerful decision-making institute that lacks accountability and transparency – and does not keep any records. The main goal in releasing the recordings is to shed light on its secretive activities, Varoufakis said in a video announcing the Euroleaks.

The Eurogroup’s three does not keep minutes, the European Union Council is still shrouded in total opacity. It’s about time we change that.

The lenders took a tough, ‘take it or leave it’ stance on Greece, effectively presenting it with an ultimatum. At the same time, they blamed Greek negotiators for stalled talks – and no records were available to prove them wrong.

“You will hear the [then-]president of the Eurogroup [Jeroen Dijsselbloem] and other ministers warn me that if I dare table written proposals within the Eurogroup meetings, that would be the end of the negotiations,” Varoufakis said. “At the very same time they were leaking to the press that I was arriving at Eurogroup meetings without any proposals.”

Apart from bringing into the limelight the “intransparent action by an unelected group of politicians who influence all our lives,” the leaks also serve another purpose. The putting in the public domain of the secret recordings is aimed at fighting attempts by the incumbent Greek government to “weaponize fake news,” produced by the Eurogroup back in 2015 to justify new austerity measures for the country, Varoufakis said.


The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

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March 21, 2020

Pity he didn’t show more backbone and release these recordings at the time.

March 21, 2020

Varoufa – pass the sick bag!

March 21, 2020

Thank you. Agree entirely. We should have jumped out of the euro in 2010. Scheuble was on our side but Varoufa / Tsipras were not. Greece’s tragedy is our nonstop straggling line of compradore elites….

ps Duran polo shirts look great on the farm too…at the pigsty….behind the sheep….picking olives…..always chic ;-))

March 21, 2020

What’s amazing about Varoufakis is not that he didn’t go into the bargaining with a willingness to pull out of the Euro, but that he turned down what was probably a perfect solution. I would have to think that if the Greeks understand this, they would really hate the guy. As far as Italy, Salvini was floating the idea of an ‘internal’ currency. The Modern Monetary guys talk about this kind of thing as well (Warren Mosler). That could really be something that would free Italy from the straightjacket. And, if it doesn’t work well, it provides a nice gradual… Read more »

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