what Varoufakis was preparing was certainly a dirty bomb. To force the Eurogroup to negotiate in earnest, Greece would threaten to unhinge the fragile political balance on which Draghi’s stabilization of the entire eurozone depended. It would deliberately unleash civil war in the eurozone. Due to legal technicalities, it was in fact unclear whether a Greek default would hit the ECB directly or simply Greece’s own central bank. But the threat certainly caused alarm in Frankfurt and Brussels. Varoufakis had the legal order for a default drafted and kept on hand in his ministry. The question was
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