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EU-imposed cuts ‘doomed to failure’

FORMER Greek finance minister Yanis Varoufakis has warned that EU-imposed austerity measures are doomed to failure.

Mr Varoufakis told the BBC over the weekend that the bailout programme will “go down in history as the greatest disaster of macroeconomic management ever.

“This programme is going to fail whoever undertakes its implementation,” Mr Varoufakis said. Asked how long it would take, he replied: “It has failed already.”

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