6min chapter

The Joe Walker Podcast cover image

The Man Who Defied Europe - Yanis Varoufakis

The Joe Walker Podcast

CHAPTER

Debt Restructuring: The Best Solution for Grace

During the whole period from 2010 up to before you became finance minister in 2015, you were advocating that the grace should implement debt restructuring. Just for our audience who aren't too financially or economically literate, what does debt restructuring mean and why did you think that was the best solution for grace? Well, I think our audience knows that already. Anybody who's ever taken a loan from bank as a business person, business model, business woman, take any business law on the basis of a forecast of certain revenues for the firm, for the business. Then the business hits troubled waters,. whether this is a recession or national recession or because the business is not going well, or the particular sector

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