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“Athens will not sign Troika deal that does not reduce debt”

3 years ago3 views

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PressTV

The Greek finance minister has rejected any deal with the country’s international lenders that does not help it leave the economic crisis behind.

Varoufakis says Greece must escape the trap of budget measures that prevents it from reducing its debt to manageable levels. He stressed that it’s time for Athens to state publically that the Greek debt must be re-designed. The veteran economist made the comments as Athens is locked in a standoff with the Troika creditors of the European Central Bank, the European Commission and the International Monetary Fund. The bone of the contention is a reform plan it should prepare in return for new rescue loans. Without new funds, Greece will risk bankruptcy within weeks. That could push the country to an exit from the eurozone.

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