Varoufakis at TIF: ‘Reducing surplus targets cannot preclude fated EU-wide recessionary dynamics’

Greece’s fifth biggest opposition party MeRA25 party leader Yannis Varoufakis held a censorious presser against the Greek government’s economic policy while visiting the 84th Thessaloniki International Fair on Friday.

“We had warned, prior to the (July 7) national elections, that Mitsotakis’ government would come along to set up a most parasitic oligarchy upon the foundations of Tsipras’ fourth memorandum,” Varoufakis stated and described the Greek government as “an exemplary prisoner of the European establishment’s Troikan serfdom,” while he aired that the government’s “quest for competitiveness is asserted on the basis of a poor state which is particularly generous towards large multinationals and oligarchic entrepreneurs.”

Regarding the government’s economic policy, he stressed that the goals of reducing primary surpluses, “even if accepted by the financial institutions, would not suffice, because of the (overwhelming) recessionary dynamics,” which he estimated can only amplify, and “when Germany catches a cold, we most certainly know what’s next for us (Greece),” Varoufakis professed.

“When one considers that those who are supposed to rule Europe cannot even co-ordinate the fiscal policy that (ECB’s) Mario Draghi himself demanded on Thursday, then one knows there are indeed bleak days ahead,” he predicted and added that “we have not yet overcome the crisis, we remain trapped in the worst memorandum of memoranda-defined Greece, the 4th memorandum, which is the most deceitful because it has an Orwellian language and is the hardest of all that came before it, ahead of yet another, upcoming recessionary wave, at the top of a solid crisis-afflicted decade,” he asserted.

Regarding the Greek government’s support to Margaritis Schinas for the European Commission’s vice-presidency and commenting on the Commission’s ‘Protecting our European Way of Life’ portfolio, Varoufakis spoke of “a desperate failure of the government”, noting that “the fact that Mitsotakis picked a Troikan mouthpiece (Schinas) is offensive to European culture,” and he explained how “it is a disgrace that immigration, which is included in the portfolio, is characterized as a threat to the ‘European way of life’, and then underlined some aired and published reactions to the title of the portfolio by what Varoufakis called the liberal forces of the European Parliament.

“European citizens do not need protection of the European way of life, the EU needs a humane migration policy-as opposed to the reduction of immigrants to enemies of the European ‘way of life’,” Varoufakis defended.