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Greek Finance Minister Yanis Varoufakis delivers a speech during The Economist conference on Europe: The comeback, Greece: How resilient?

After Greece Spain Comes Next – Ex-Greek Finance Minister

© REUTERS / Alkis Konstantinidis

12:27 GMT 08.08.2015(updated 12:28 GMT 08.08.2015) Get short URL

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Yanis Varoufakis, Greece's outspoken former finance minister, said the financial bailout from the country’s international creditors was really meant to drown Greece in debt to divert attention from other EU problems.

Greek Finance Minister Yanis Varoufakis gives a speech during an Financial conference in Athens, on Tuesday, May 19, 2015

© AP Photo / Petros Giannakouris

Varoufakis Confirms 'Plan B' Payment System in Case of Grexit

The reforms imposed on Athens by the EU, the European Central Bank and the IMF are “going to fail” Varoufakis told Spain’s El Pais as he hit out at the austerity measures imposed on Greece in return for an €86 billion rescue package.

“The third package will not work because it was initially designed to divert attention from the problems facing other EU countries, not to save Greece.

To lend it money only to drown it in debt… The German Finance Minister Wolfgang Schaeuble wants to reconstruct the Eurozone, and pushing Greece out is only part of this plan,” Varoufakis said.

“The main goal is to deprive the European Commission of its right to handle budgetary issues and set up some observatory fiscal body that would force

EU states to draw up their budgets the way the troika deems right… He wants the troika to dictate its terms where it has not been invited yet: in Madrid, Rome and above all in Paris. Greece is just a pawn on their chessboard,” the ex-Minister added.

Related:: Greece Faced Withdrawal From Eurozone Two Times - Varoufakis

: Collapse of Greece is Part of German Plan to Change Eurozone - Varoufakis

Tags:

European Union, International Monetary Fund, financial diktat, Eurozone reconstruction, bailout package, Greek debt, The European Central Bank (ECB), Wolfgang Schaeuble, Yanis Varoufakis, Greece

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