Greek Finance Minister Was Creating a Parallel Payment System

Posted in: Archive
July 27, 2015 1:19 PM UTC

According to former Greek Finance Minister Yanis Varoufakis, prior to making a deal with European creditors, he was authorized to find an alternative way to keep the country’s financial health in good standing.

He assembled a team, and together they hacked into his own Ministry and got the taxpayer database along with other sensitive information. They intended to create Euro liquidity for Greece one way or another.

Varoufakis admitted as much recently in London, according to the Telegraph. He also told them:

The context of all this is that they want to present me as a rogue finance minister and have me indicted for treason. It is all part of an attempt to annul the first five months of this government and put it in the dustbin of history. […] It totally distorts my purpose for wanting parallel liquidity. I have always been completely against dismantling the euro because we never know what dark forces that might unleash in Europe.

Varoufakis believes the current bailout plan for Greece will ultimately be a failure. If, in the meantime, Greeks who don’t want to lose their money to the banks decide to switch to Bitcoin, the digital currency could see a boost in usage and thus value. The Greek government narrowly avoided a full-blown default on debts recently, and things look bleak to many as regards their future.

Featured image from Shutterstock.

Last modified: May 21, 2020 11:03 AM UTC

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P. H. Madore @bitillionaire

P. H. Madore has written for CCN since 2014. Please send breaking news tips or requests for investigation to He lives in Maine, USA. A single father of four young children, he does not discourage financial donations, provided they do not come with strings attached.