As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting

The Greek people rejected austerity while the UK incomprehensibly voted for more of it. Possibly the Greeks realized the difference between belt-tightening and strangulation – the latter happens when everyone’s work is drained off to pay debt that an unelected institution decided was a valid response to the economic crisis of 2008 caused by … oh oh … unelected institutions???…
Courage Yanis and Greek people.

Yanis Varoufakis

The Eurogroup Meeting of 27th June 2015 will not go down as a proud moment in Europe’s history. Ministers turned down the Greek government’s request that the Greek people should be granted a single week during which to deliver a Yes or No answer to the institutions’ proposals – proposals crucial for Greece’s future in the Eurozone. The very idea that a government would consult its people on a problematic proposal put to it by the institutions was treated with incomprehension and often with disdain bordering on contempt. I was even asked: “How do you expect common people to understand such complex issues?”. Indeed, democracy did not have a good day in yesterday’s Eurogroup meeting! But nor did European institutions. After our request was rejected, the Eurogroup President broke with the convention of unanimity (issuing a statement without my consent) and even took the dubious decision to convene a follow up meeting without the Greek minister, ostensibly to…

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