With the UK on the cusp of leaving the European Union and Greece increasingly facing the same fate, is it over for the beleaguered body?

An "epidemic" washing over other European countries may see the end of the EU, warns Yanis Varoufakis, Greece’s former finance minister.

"The right question is: Is there going to be a eurozone and the European Union in one or two years’ time?" asks Varoufakis, who served as finance minister for five months under the Syriza government.

Italy is already on the way out, Varoufakis tells UpFront.

"When you allow an epidemic to start spreading from a place like Greece to Spain ... to Ireland, then eventually it gets to a place like Italy," says Varoufakis. "As we speak, only one political party in Italy wants to keep Italy in the eurozone."

When asked about his failure to pull Greece out of its debt crisis during his tenure as finance minister, Varoufakis blamed the so-called troika - the IMF, the EU Commission and the European Central Bank - by intentionally sabotaging any debt-repayment agreement.

"They were only interested in crushing our government, making sure that there would be no such mutually advantageous agreement," says Varoufakis, who claims Greece was being used as a "morality tale" to scare voters in other European countries away from defying the troika.

"The only reason why we keep talking about Greece ... is because it is symptomatic of the architectural design faults and crisis of the eurozone."

For more from this interview, click here.

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Source: Al Jazeera News