A century ago, the British empire used to administer China’s customs service, collecting taxes that helped to service the country’s foreign debts. This exploitative quasi-colonial arrangement, which only came to an end after the Chinese revolution in 1949, is a source of resentment even today.

Greece is in a similar situation. The general secretariat of public revenues within the finance ministry is “controlled fully and directly by the troika” – the institutions representing its creditors – according to Varoufakis. As in the Chinese case, the official justification is that foreigners can better ensure the efficient collection of tax revenues.