Amy Goodman
@DemocracyNow·3.2M subscribers·19.4K videos
Yanis Varoufakis: Bailouts of Greece are Pretense for Massive Payout for German and French Banks
Posted
April 28, 2016
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April 28, 2016
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6:28Now PlayingWe continue our conversation with former Greek Finance Minister Yanis Varoufakis as the White House is backing calls for Greece to continue to implement widespread austerity measures, following President Obama’s meeting with German Chancellor Angela Merkel earlier this week. Greece and its international creditors are once again negotiating the terms of the bailout and the extent of the austerity measures creditors can impose. Varoufakis responds to the German government’s claim that the majority of Germans oppose giving more money to Greece, and addresses the previous bailouts. "What happened to that money? It wasn’t money for Greece. It was money for the banks," Varoufakis says. "The Greek people took on the largest loan in human history on behalf of German and French bankers." He notes the conditions of the loan "guaranteed our national income would shrink by onethird. So it was impossible to repay that money." He says he opposes taking additional funds until the country’s economy is more stable.
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