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Foreign Media Report on Varoufakis Scandal

varoufakisUnder normal circumstances, media across the globe would be reporting about the start of talks between Greece and its international creditors regarding the third bailout package. However, Yanis Varoufakis’ scandal is dominating the field.
It was revealed on Sunday, that the former Greek Finance Minister claimed during a speech to hedge fund executives that he had created a parallel banking and currency system for Greece.
CBS noted that Varoufakis’ scandal was overshadowing the third bailout talks, while Australian SBS wrote that Varoufakis admitted to creating a secret Plan B. “The self-proclaimed ‘erratic Marxist’ academic, in office until July 6, sought to play down the initiative as a contingency plan that had never been implemented.”
The City added that the secret Plan B has caused an upheaval in Greece, exacerbating an already fragile political situation. Meanwhile, Greek Prime Minister Alexis Tsipras must fight to convince opposition lawmakers that their efforts to pass the third bailout are not being subverted in secret through the Tsipras-approved Plan B, added the article.
The New York Times is calling the case “Varoufakis Tapes,” stating that the “publication of the recording created a political furor just as representatives of the country’s Eurozone creditors were arriving in Athens for sensitive talks on a new program intended to keep Greece in the Eurozone.”
Furthermore, the Assosiated Press added that “Athens faced rebuke following revelations that former Finance Minister Yanis Varoufakis formed a secret committee to plan for the possible conversion of euros into drachmas.”
Finally, the Guardian’s Helena Smith wrote: “Greece’s former Finance Minister, Yanis Varoufakis, has been thrust back in the spotlight as he vigorously defended plans to launch a parallel payment system in the event of the country being ejected from the euro.”

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