Greece’s Yanis Varoufakis: The Medicine of Austerity Is Not Working, We Need a New Treatment
April 21, 2015
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14:29Now PlayingGreece’s Yanis Varoufakis: The Medicine of Austerity Is Not Working, We Need a New Treatment
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as posted by the channelWith the debt clock ticking, Greece is fast running out of money. The country has ordered all state bodies to place their cash reserves in the nation’s central bank, the Bank of Greece, as it struggles to stay afloat. Greece is suppose to receive the last installment of its bailout funds from European creditors, but the country’s new leftist, antiausterity Syriza party has expressed concerns about its terms. The creditors are reportedly pressuring the country to restructure its labor market and curtail its pension system; Syriza has instead done the opposite by increasing pension payments to lowerwage workers. On Friday, eurozone finance ministers will decide whether to release emergency funds to Greece. Without the funds, Greece may default on its debt payments in coming weeks and put its membership in the eurozone at risk. We go to Athens to speak with Greek Finance Minister Yanis Varoufakis.
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