Counter-propaganda against the EU Yanis Varoufakis slams the European Union for Greece’s “DEBT GALORE”

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Counter-propaganda against the EU Yanis Varoufakis slams the European Union for Greece’s “DEBT GALORE”

YANIS VAROUFAKIS launched a scathing attack on the EU over Greece’s mounting national debt.

With its compliance with EU budgetary regulations and European Central Bank bonds, the former Greek finance minister accused his country’s government of dragging the economy into “debt galore.” Mr Varoufakis warned that Greece’s economy is still far from “fixed” following the 2008 financial crisis, and urged Brussels to avoid from spreading false information.

“As MeRA25 has been warning, the Greek government has boosted bad/unpayable private debt from 56 percent to 88 percent of GDP by preferring to extend (rather than haircut) the fresh private debts of lockdown victims,” he stated (227 percent overall).

“Add in 218 percent of the state debt, and you have a GREEK DEBT BONDAGE GALORE.”

When a Twitter user accused Mr Varoufakis of being “apocalyptic” and questioned how “foreigners” might help, he retorted: “Sure.

“Assist in debunking global finance and EU lies that Greece has been ‘fixed’ and our economy has returned to normal.

“Spread the news that, despite the fact that Greece is more bankrupt than ever, fin vultures profit handsomely from trading nonperforming loans (at a percentage of face value) and government bonds (guaranteed by the ECB).”

German bond yields plummeted to their lowest level since February on Tuesday, pushing the whole German yield curve to the verge of becoming negative as investors continued to buy government bonds.

Fears over the Delta version of the coronavirus, as well as further position adjustments into bonds, drove both German and US Treasury rates to their lowest levels since February on Monday. The rally continued on Tuesday, despite stock markets on both sides of the Atlantic rising.

Bond rates in the euro area fell substantially after relatively restrained changes at the start of the session, and this increased following the start of the US trading session as US Treasury yields fell sharply.

The 10-year yield in Germany, the euro zone’s benchmark, plummeted more than 5 basis points to -0.44 percent, the lowest level since February.

Two-year rates plummeted nearly three basis points to -0.725 percent, their worst daily drop since June 2020.

Hundreds of vaccinations have failed, causing a Merkel crisis.

“Brinkwire Summary News” shows the German yield curve as assessed by the gap between.

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