After Resigning, This Man Says The Greek Reform Is Already “A Total Failure”

• The former Greek finance minster has said his country’s economic reforms are “going to fail”, just as formal talks on a huge bailout are set to begin.
• In a BBC interview, Yanis Varoufakis said Greece was subject to a programme that will “go down in history as the greatest disaster of macroeconomic management ever”.
• The German parliament approved the opening of negotiations on Friday.
• The bailout could total €86bn (£60bn) in exchange for austerity measures.
• In a damning assessment, Varoufakis said: “This programme is going to fail whoever undertakes its implementation.”
• Asked how long that would take, he replied: “It has failed already.”
• Varoufakis resigned earlier this month, in what was widely seen as a conciliatory gesture towards the eurozone finance ministers he had frequently clashed with.
• He said Greek Prime Minister Alexis Tsipras, who has admitted that he does not believe in the bailout, had little option but to sign.

“We were given a choice between being executed and capitulating. And he decided that capitulation was the ultimate strategy.”

• Tsipras has announced a cabinet reshuffle, sacking several ministers who voted against the reforms in parliament this week.

Source:BBC