James Byrnes: In his blog entry, Varufakis compared the situation in Greece today with Germany after the Second World War, according to Russia Today. At that time, US Secretary of State James Byrnes delivered a speech in Stuttgart, marking a transition from a punitive approach towards the defeated country, to a new one providing its people with the opportunity to recover and prosper. Tags Bailout, Crisis, EU, Germany, Greece, Merkel Greek Finance Minister Janis Varoufakis appealed to German Chancellor Angela Merkel to deliver a speech of hope to cash-strapped Greece, which would signal end to austerity demands and restore the morale of its people. Seven decades later, it is my country, Greece, that needs such a chance, he said. The Troika of lenders, consisting of the European Commission, the IMF and the European Central Bank, is requiring more austerity from Greece in exchange for another bailout. Greece is on the brink of default and if international lenders refuse to inject more cash into its economy, the resulting havoc could possibly be followed by the country exit from the euro zone.
(news.financializer.com). As
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