The man they’re calling “the rock star of anti-austerity” rocked financial markets Monday. Yanis Varoufakis — the new Greek finance minister — sent bank shares reeling on the Athens stock exchange with his comments on the euro.
Over the weekend, he warned that the eurozone would collapse if his country is forced out of the currency union by Germany’s refusal to accept a renegotiation of the terms of Greece’s bailout. Varoufakis said he believes that if Greece left the eurozone, investors will pull their money out of other heavily indebted euro countries – forcing them to leave too. With its biggest export market – the rest of Europe – then in turmoil, Germany could be the biggest loser.
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