Kim presents Varo­ufakis’s al­ter­na­tive cur­rency plan

Kathimerini English - - Focus - ELENI VARVITSIOTIS

The plan for a par­al­lel cur­rency that the Greek gov­ern­ment and the fi­nance min­is­ter of the time, Ya­nis Varo­ufakis, were plan­ning in 2015, were laid bare with all the de­tails by his close as­so­ciate at the time, Glenn Kim on Mon­day at an Ital­ian par­lia­men­tary event or­ga­nized by Beppe Grillo’s Five Star Move­ment.

Ac­cord­ing to the plan, the gov­ern­ment would start by hand­ing civil ser­vants vouch­ers amount­ing to 10 per­cent of their monthly salary, to be used ex­clu­sively for pay­ing debts to the tax au­thor­i­ties, just like food vouch­ers are used. If the sys­tem had been suc­cess­ful it would have been ex­panded to other state pay­ments and in other sec­tors.

Kim, who is of Korean ex­trac­tion and re­mains to­day one of the main ad­vis­ers to cur­rent Fi­nance Min­is­ter Eu­clid Tsakalo­tos, spoke in de­tail about the “fis­cal cur­rency,” as he called it, which, “if we had more time, could have been re­al­ized,” as he said.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.