Three months ago, Yanis Varoufakis explained Europe’s bogus growth pact and the papering over the cracks that was imagesbeing done by the IMF and ECB, “The idea here is that, yet again, the Eurogroup-ECB-IMF alliance is not ready, politically, to reveal the truth to its various constituencies.” He was, obviously, correct. This weekend, in a brief BBC Radio interview (below), as Cyprus erupts and brings the European circus back into town, Varoufakis exclaims, “every bailout agreement, beginning with Greece’s in May 2010, seems less logical and more toxic than the previous one.”

In three minutes, the Greek economist illustrates how the leaders are laying waste to the supposed pillars upon which the European Union was founded. Continue reading

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