The infamous 'Plan B' being accredited to the idea of painful Eurozone exit has had its share of rounds from the offices of the German finance minister, Schäuble to Varoufakis himself. The latest series of revelations come in the days after the Greek government's second big bailout-sitting parliamentary session in as many weeks. Varoufakis, himself an outspoken critic, has had no dearth of interviews to get his ideas across, both during his tenure as the finance minister and afterwards.
Varoufakis has been a staunch opponent of the austerity emanating from the bailout package that Greece has just now signed up to. After voting NO in the first parliamentary vote, he turned over his vote for the second.
The idea floated on and discussed was about creation of a parallel banking system was in the works since December of 2014. The plan included hacking into online tax databases of the Greeks with this system being brought into force when the banks were to be shut down as demanded by the lenders. The plan, sounding straight out of a Hollywood movie actually has been confirmed by sources. The legality of the plan is still being debated, if the finance minister and team had any authority to tap into system.
This new development by the reckless now ex-finance minister but nevertheless member of the Greek parliament is a continuous topsy-turvy story of never ending amazement that is the Greek financial crisis. Most probably as you read this, things have taken a totally different turn.