Yanis Varoufakis: If the euro area does not change, it will die – Le Figaro

As negotiations between Greece and its creditors spin, the Greek Finance Minister described his European allies as “divergent” partners, “ruled by fear.”

“The euro area will die if it does not change” or “Our partners are governed by fear.” The controversial Greek Finance Minister Yanis Varoufakis did not mince his words with regard to its European allies, while Greece and its European creditors met again to try to find a solution to the country’s financial situation. “They are competing partners, governed by fear, the latter having been caused by the crisis and the” solution “to the crisis. But everyone knows that this solution is unstable and prone to lead to new problems, “said Yanis Varoufakis in an interview with Greek center-left daily, your Efimerida Sindakton . Hostile media output that follows the last meeting of finance ministers of the euro area, during which he says he was mistreated by his European counterparts.

Yanis Varoufakis, the stripper style annoys even arrogant its European peers, was even allowed to say that Greece could do without a new loan while his government, strapped for cash, desperately trying to unlock bailout fund. “One condition, however, is a major debt restructuring,” he said. One possibility considered “behind the scenes negotiations,” according to Greek Finance Minister. This insurance is surprising given that the latter was rejected in favor of a more conciliatory Greek negotiator, Euclid Tsakalotos. In this regard, Yanis Varoufakis repeats that he is still in charge of the Greek negotiating team, while it is the Prime Minister Alexis Tsipras.

“The real ultimatum for Greece is 20 July”

If Athens wants to obtain the payment of the last tranche of 7.2 billion euros, it must agree with its European peers on a list of comprehensive and credible reforms. The creditors’ side, we demanded of Greece encrypted and lasting reforms. They hope that the renewal of the negotiating team change the situation. The negotiations are proceeding more in two months. But within himself creditors, objectives differ: IMF focuses on pension reform when Brussels insists on privatization, VAT and taxes

Time is short.. Greece, which risks a default, has to deal with different maturity dates in May, June and July. And its coffers are empty. The second aid package will efin to an end in June If an agreement is reached, it must however be approved at the next meeting of finance ministers of the eurozone, May 11 “The real ultimatum to Greece is not May 11 but on July 20, when the country will absolutely have paid 3 billion maturity of government bonds, 468 million to the IMF and 3.5 billion the ECB. Either Greece defaults, or by obtaining a new aid plan, or it renegotiated its debt.