Facing charges for intending to ‘hack’ into his country’s financial payment system, Former Greek Finance Minister Yanis Varoufakis faces possible criminal charges. However, he maintains that creating a mirror payments system that could be used in the event of a banking collapse during a possible Greek exit from the Euro will enable the country to cancel its arrears to and from the state.

His counter-statement indicates that the European commission had controlled the Greek tax system to ‘play by their rules’, something that the EC denied, claiming his statement to be “false and unfounded”. Varoufakis said it is for this reason he considered having a team hack into the ministry’s computers to devise the parallel payment system.

The EC, along with the European Central Bank and the International Monetary Fund said it only provided the tax system with technical assistance and there was no attempt from lenders to control it according to a statement by EC Spokeswoman Mina Andreeva.

Meanwhile, Europe and Greece are on the verge of closing talks for the third bailout package of the country.

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