Varoufakis: Greece reliving the Great Depression

Never one to eschew the dramatic, FinMin Yanis Varoufakis likened the current situation in (still) recession-plagued Greece with the Great Depression of the 1930s.

In his speech at the Greek-French Chamber, as long as a political solution is delayed, the recession will wear down the common currency and turn the peoples of Europe against each other.

Turning to a more ? Keynesian theme for the speech, Varoufakis said the first step must be a stabilization of the Eurozone with the assistance of already existing "institutions" and with European Investment Bank being the pillar of growth in Europe.

Turning to a more Ivy League tone, he called for the "simulation" of a federation where overall investments would be "Europeanized".

"Our goal should be a federalizatison, but first we need to balance the situation", he added.