Greece's Varoufakis says believes 'zero' chance for debt relief at Eurogroup

Record ID: 876478

  • Title: Greece's Varoufakis says believes 'zero' chance for debt relief at Eurogroup
  • Date: 19th May 2017
  • Summary: ATHENS, GREECE (MAY 19, 2017) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF FORMER GREEK FINANCE MINISTER, YANIS VAROUFAKIS, ARRIVING AT NEWS CONFERENCE FOR HIS DIEM25 (DEMOCRACY IN EUROPE MOVEMENT 2025) MOVEMENT VAROUFAKIS SHAKING HANDS WITH ANOTHER MEMBER OF DIEM25 AT NEWS CONFERENCE VAROUFAKIS SEATED AT NEWS CONFERENCE/ PHOTOGRAPHERS TAKING HIS PICTURE (SOUNDBITE) (English) FORMER GREEK FINANCE MINISTER, YANIS VAROUFAKIS, SAYING: "This debasement of democratic politics is what you get when you have seven years of a great depression, a never-ending depression, which is being constantly reinforced by the measures of austerity and further toxic loan tranches which are part and parcel of the problem, not of the solution." VAROUFAKIS LISTENING TO REPORTER'S QUESTION (SOUNDBITE) (English) FORMER GREEK FINANCE MINISTER, YANIS VAROUFAKIS, SAYING: "Few outcomes come attached with a zero probability - this is one of them. You don't need to ask me, ask my good friend Wolfgang Schaeuble. He's already stated it, I do believe that we should listen when Wolfgang speaks." VAROUFAKIS HOLDING HIS MOTORCYCLE HELMET AND WALKING ON SIDEWALK WITH OTHER MEMBERS OF DIEM25/ VAROUFAKIS PUTTING KEY IN MOTORCYCLE IGNITION VAROUFAKIS PUTTING HELMET ON VAROUFAKIS GETTING ON MOTORCYCLE VAROUFAKIS DRIVING OFF VAROUFAKIS DRIVING ON STREET
  • Embargoed: 2nd June 2017 12:48
  • Keywords: Diem25 debt relief austerity Schaeuble Varoufakis Greece
  • Location: ATHENS, GREECE
  • City: ATHENS, GREECE
  • Country: Greece
  • Topics: Budget/Taxation/Revenue,Government/Politics
  • Reuters ID: LVA0016HI8KLJ
  • Aspect Ratio: 16:9
  • Story Text: Greece's outspoken former finance minister Yanis Varoufakis said on Friday (May 19) he believed there was "zero" chance the country's lenders would grant Greece debt relief at next week's Eurogroup meeting.
    Greece's government passed new austerity reforms through parliament on Thursday (May 18) as demanded by lenders. It hopes to convince eurozone finance ministers meeting in Brussels on Monday to release more bailout loans and grant it further debt relief.
    Varoufakis, who in 2015 tried to defy German-backed austerity policies, said that further austerity and loans were part of Greece's problem, not the solution, during a news conference in Athens introducing his pan-European movement, "Democracy in Europe Movement 2025" (Diem25) to Greece, after launching it in 2016 in Berlin.
    During his short tenure as finance minister, his fiery language alienated many of his eurozone colleagues and he frequently clashed with German Finance Minister Wolfgang Schaeuble.
    A self-described "erratic Marxist", motorbike-riding Varoufakis riled the Germans when comparing a rescue package to the Versailles Treaty, which forced crushing reparations on Germany after World War One and led to the rise of Adolf Hitler.
    Varoufakis quit as finance minister in July 2015 after refusing to accept the terms of a third bailout for Greece which imposed further tough austerity measures.
  • Copyright Holder: REUTERS
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