RSN Fundraising Banner
FB Share
Email This Page
add comment
Print

Excerpt: "His resignation comes less than a day after Greeks overwhelmingly rejected the conditions of an international bailout package in a nation-wide popular referendum."

Yanis Varoufakis. (photo: ibtimes.co.uk)
Yanis Varoufakis. (photo: ibtimes.co.uk)


Greek Finance Minister Yanis Varoufakis Steps Down

By teleSUR

06 July 15

 

His resignation comes less than a day after Greeks overwhelmingly rejected the conditions of an international bailout package in a nation-wide popular referendum.

reek Finance Minister Yanis Varoufakis announced Monday his resignation, a day after most of Greeks voted 'No' to the conditions of an international bailout package.

In a statement on his blog, Varoufakis said that he had been "made aware" that some members of the eurozone considered him unwelcome at meetings of EU finance ministers, "an idea the prime minister judged to be potentially helpful to him in reaching an agreement."

“For this reason I am leaving the ministry of finance today," he said and added that yesterday's referendum will stay in history as a unique moment when a small European nation rose up against debt-bondage. Athens must pay a debt installment of US$1.8 billion.

Two days ago, the now former Finance minister said in an interview that Greece's international creditors were exerting “terrorism” in order to "instil fear in people."

The recent referendum called by the leftist Prime Minister Alexis Tsipras has shown the lack of trust that people in debt-ridden countries have in the international financial institutions but has also left Athens caught beneath the landslide since the country now faces a potential financial collapse and the exit from the eurozone.

However, Greeks have faced five years of failed austerity policies, and they decided to give their vote in the past general election to the anti-austerity leftist coalition Syriza, led by Tsipras, who has said that the “No” in the referendum has proved that democracy cannot be blackmailed and has pledged that his government will provide a sustainable future.

Text of Varoufakis’s blog post explaining his decision to quit:

Minister No More!

The referendum of 5th July will stay in history as a unique moment when a small European nation rose up against debt-bondage.

Like all struggles for democratic rights, so too this historic rejection of the Eurogroup’s 25th June ultimatum comes with a large price tag attached. It is, therefore, essential that the great capital bestowed upon our government by the splendid NO vote be invested immediately into a YES to a proper resolution – to an agreement that involves debt restructuring, less austerity, redistribution in favour of the needy, and real reforms.

Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today.

I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum.

And I shall wear the creditors’ loathing with pride.

We of the Left know how to act collectively with no care for the privileges of office. I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government.

The superhuman effort to honour the brave people of Greece, and the famous OXI (NO) that they granted to democrats the world over, is just beginning.


e-max.it: your social media marketing partner
Email This Page

 

THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.

RSNRSN