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The far left in SYRIZA were planning to rob the mint

15 July 2015 / 10:07:43  GRReporter
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Last night's meeting of the Left Platform in SYRIZA attracted the media attention in connection with the intentions of its member deputies whether to support the first package of budgetary measures and reforms in today's voting in parliament or not.

The debate however revealed part of the plan of the formation headed by Minister of Economic Development and Energy Panagiotis Lafazanis who disclosed that the return to the national currency was part of the Plan B that the Left Platform had proposed. Its implementation would have required "to obtain 22 billion euro from the Bank of Greece to pay salaries and pensions with them and to print our own currency in the mean time."

According to the Greek government sources, Lafazanis had presented the alternative plan drawn up by the members of the Left Platform at a cabinet meeting. It provided for raiding the mint that stores the financial reserve of the Bank of Greece, with which it supplies liquidity to Greek banks after authorization from the European Central Bank. According to Lafazanis, this money would have been used to pay salaries and pensions after the imposition of capital controls.

Such an action, namely putting money in circulation without the approval of the European Central Bank would have been defined as unauthorized money printing and it would have provoked the immediate removal of Greece from the euro zone.

It is worth noting that the Plan B of the Left Platform envisaged toppling Yiannis Stournaras from the post of governor of the Bank of Greece. In addition, the government sources indicate that Panagiotis Lafazanis was the second defender of the proposal for the introduction of IOUs submitted by former Minister of Finance Yanis Varoufakis at a closed session that had taken place immediately after the European Central Bank had notified the government that it should impose capital controls.

Tags: PoliticsFar left in SYRIZALeft PlatformPanagiotis LafazanisPlan BRobbing the mintReturn to the national currency
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