Former Greek Finance Minister Yanis Varoufakis spoke out once again against the new bailout deal. “This program is going to fail, whoever undertakes its implementation,” he told the BBC and added that it has actually already failed. The former Finance Minister voted against the three-year bailout deal in Greece’s parliament and had called it the new Versailles Treaty. Varoufakis had an uneasy and at times confrontational relationship with the Eurozone Finance Ministers. He was highly critical of a new bailout deal that included more loans without any debt restructuring. Despite his thoughts on the deal, Varoufakis recognized that Greek Prime Minister Alexis Tsipras was stuck between a rock and a hard place. “We were given a choice between being executed and capitulating. And he decided that capitulation was the optimal strategy,” he said.
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