Yanis Varoufakis: bailout deal allows Greek oligarchs to maintain grip

Former finance minister accuses EU leaders of punishing ordinary people as he argues measures imposed on Greece will make dire economy worse

Greece's former finance minister Yanis Varoufakis has accused European leaders of allowing oligarchs to maintain their stranglehold on Greek society while punishing ordinary people in a line-by-line critique of the country's a86bn (61bn) bailout deal.

Varoufakis said the Greek parliament had pushed through an agreement with international creditors that would allow oligarchs, who dominate sections of the economy, to generate huge profits and continue to avoid paying taxes.