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Greece: Tsipras defends Varoufakis's 'plan B' for Grexit01:19

Greece: Tsipras defends Varoufakis's 'plan B' for Grexit

Greece, Athens
July 31, 2015 at 19:36 GMT +00:00 · Published

Greek Prime Minister Alexis Tsipras backed former Greek Finance Minister Yanis Varoufakis's "plan B," formulated in the case of a Grexit, saying he himself had given the order for Varoufakis to come up with such a plan, as he addressed the Greek Parliament in Athens, Friday.

"You can't accuse him [Varoufakis] of being a hustler, you can't accuse him of stealing Greek people's money, you can't accuse him of having a secret plan B to drive the country to the rocks," Tsipras said in answer to the leader of Pasok, who accused the ex-finance minister of having a "conspiracy" plan.

Varoufakis had earlier said that Tsipras had authorised him to come up with a “plan B,” which he and a "friend from Columbia University" were formulating as negotiations over Greece’s third bailout continued.

The plan involved creating a "parallel system" from the euro, for which Varoufakis and his team duplicated citizens' tax numbers and "created reserve accounts attached to every number," which the Greek government could then potentially pay into without relying on capital from the European Central Bank. Varoufakis announced that mobile phone apps would have been used, with a feature that could transfer the money “to drachma at the touch of a button” if a Grexit were to take place.

The Greek parliament backed two packages of austerity reforms in July, allowing the government to start talks with the country's creditors regarding the bailout. Syriza has struggled to maintain unity following the parliamentary votes, with several party members criticising their leader for accepting the terms of the creditors.

Greece: Tsipras defends Varoufakis's 'plan B' for Grexit01:19
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Greek Prime Minister Alexis Tsipras backed former Greek Finance Minister Yanis Varoufakis's "plan B," formulated in the case of a Grexit, saying he himself had given the order for Varoufakis to come up with such a plan, as he addressed the Greek Parliament in Athens, Friday.

"You can't accuse him [Varoufakis] of being a hustler, you can't accuse him of stealing Greek people's money, you can't accuse him of having a secret plan B to drive the country to the rocks," Tsipras said in answer to the leader of Pasok, who accused the ex-finance minister of having a "conspiracy" plan.

Varoufakis had earlier said that Tsipras had authorised him to come up with a “plan B,” which he and a "friend from Columbia University" were formulating as negotiations over Greece’s third bailout continued.

The plan involved creating a "parallel system" from the euro, for which Varoufakis and his team duplicated citizens' tax numbers and "created reserve accounts attached to every number," which the Greek government could then potentially pay into without relying on capital from the European Central Bank. Varoufakis announced that mobile phone apps would have been used, with a feature that could transfer the money “to drachma at the touch of a button” if a Grexit were to take place.

The Greek parliament backed two packages of austerity reforms in July, allowing the government to start talks with the country's creditors regarding the bailout. Syriza has struggled to maintain unity following the parliamentary votes, with several party members criticising their leader for accepting the terms of the creditors.

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