By Lucky Gold

We don’t need more time to hang ourselves

(CNN) – In the aftermath of its most recent election, will Greece remain in the eurozone, and will a pro-bailout government begin a recovery?

Yannis Varoufakis, Professor of Economics at the University of Athens doesn’t think so:

“Even if God, his angels and every good man and woman on this planet were to descend on Greece and form a government with a purpose and commitment to implement this bailout agreement, it would simply not be possible.”

Appearing Tuesday on Amanpour, Varoufakis went even further: “We don’t need more time to hang ourselves. We don’t need different dosages of the same poison. We need another approach.”

Varoufakis warned that “what Greece has done is to prolong a very agonizing death. It is bringing down with it, yet again, spreading contagion to the rest of Europe…What is happening here in Greece is the template which is being imposed upon Spain.”

Calling it a “death embrace between insolvent banks and insolvent states,” Varoufakis cautioned that “Greece is quite small and insignificant, but Spain is too large to ignore and it is bringing down with it the whole of the eurozone.” FULL POST