Greek Finance Minister Yanis Varoufakis on Bitcoin

Greece has never been accused of being an economic savant over the last generation. Using the Drachma for the 3rd time from 1951 to 2001, it’s value declined to the point where Greece joined the E.U.’s new multi-national Euro system in 2002. Greece followed up with three distinct recessions in each year from 2007 through 2009. This required a massive bail-out in 2010, and “austerity measures” ever since for the citizens to live up to, while the bankers who caused the issues continue to mismanage the economy unabated, asking for more loans as we speak.

These consistent economic issues have lead to the new regime change in Greece, lead by new motorcycle-riding leader Yanis Varoufakis. He vows to bring change to the people of Greece. Doesn’t that sound familiar?

Dating back to 2013, Varoufakis has made many statements about what he believes Bitcoin can and cannot do economically. He has not been impressed by Bitcoin as a way forward for a sovereign nation’s economy… CONTINUE