Back
14 May 2015
Will not sign off on bailout deal that hurts Greece – Varoufakis
FXStreet (Mumbai) - Greek finance minister Varoufakis reportedly said on Thursday that his government would not sign off on a bailout deal that shall hurt Greece.
Varoufakis was also said that Greece could return to the markets quicker if the country’s bonds were a part of the European central Bank’s (ECB) EUR 60 billion QE program.
Earlier today, the finance minister said that Greece’s debt is not viable and the country’s debt repayments should be pushed back. “Over July-August the finance ministry will have to borrow 6.7 billion euros from our partners in one way or the other to repay bonds from the SMP programme, about 27 billion euros of those bonds are still left, which should be repaid in the next months or years. These bonds should be pushed back to the distant future. This is clear”, said Yanis Varoufakis told a conference in Athens, referring to bonds bought by the ECB under the Securities Market Programme over 2010-2011.
Varoufakis was also said that Greece could return to the markets quicker if the country’s bonds were a part of the European central Bank’s (ECB) EUR 60 billion QE program.
Earlier today, the finance minister said that Greece’s debt is not viable and the country’s debt repayments should be pushed back. “Over July-August the finance ministry will have to borrow 6.7 billion euros from our partners in one way or the other to repay bonds from the SMP programme, about 27 billion euros of those bonds are still left, which should be repaid in the next months or years. These bonds should be pushed back to the distant future. This is clear”, said Yanis Varoufakis told a conference in Athens, referring to bonds bought by the ECB under the Securities Market Programme over 2010-2011.