×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Friday
19
Dec 2025
weather symbol
Athens 17°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Economy

Varoufakis to Bloomberg: I hope ECB helps Greece avoid default in March

“I find it very hard to imagine that Europe and the IMF will allow us to trip over what is a relatively small cash problem”, said the Greek Minister of Finance

Newsroom February 26 09:20

Greek FinMin Yanis Varoufakis raised eyebrows and generated his share of shivers on Wednesday when he said he’s counting on the ECB to help Greece avoid default next month when it runs out of money, while at the same time playing up the positive by saying deposits are also starting to flow back to domestic banks.

In his interview to Bloomberg television in Athens, he said the ECB owes Greece almost two billion euros from a return of profits under a program to buy euro-area bonds to support the market. He added that the Greek government must make four payments to the IMF in March to service its past bailout loans.

According to Bloomberg, Varoufakis stressed that Frankfurt-based ECB “could hand over this money to the IMF as partial repayment … I’m giving you examples, nothing has been decided. This is money we are owed. This is our money, an overpayment to the ECB.”

As Bloomberg reports, ECB President Mario Draghi told the European Parliament on Wednesday that it’s a popular misconception that it’s up to his institution to return any profit from the Securities Markets Program. He said governments are in control of the funds.

Specifically, the question raised was: “Do you still believe that the SMP profits are owned by the ECB and are kept there?”

He said “that’s not so … The SMP profit, like any other profit, has been distributed to all the central-bank members of the ECB. And the central-bank members of the ECB have transferred their profits to their national budgets.”

In his interview, Varoufakis referred to a profit agreement and stressed that the deal made on Feb. 24 to extend the availability of bailout funds calmed fears about Greece’s place in the euro area. On the same day, he said about 700 million euro returned to Greek bank accounts, with the reporter, however, pointing out that tens of billions have already left.

“It’s a question of direction, as you know…” was Yanis’ response.

Nevertheless, he appeared confident that Athens will not have a cash-flow problem. “I find it very hard to imagine that Europe and the IMF will allow us to trip over what is a relatively small cash flow problem.”

Regarding criticism by IMF chief Christine Lagarde that the list he emailed eurozone creditors was not “very specific”, he said “nobody ever expects, in their right mind, that one can come complete with financial analysis, fiscal analysis, quantitative targets and monitoring and measuring and performance indicators.”

 

>Related articles

Papathanasis: We will meet all economic targets while also seeking even more resources

Major crackdown begins on undeclared rents and “grey” properties – What the MIDAS platform changes for every property

Hellenic Competition Commission: The distortions that keep deposit interest rates low

 

 

 

Ask me anything

Explore related questions

> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Papathanasis: We will meet all economic targets while also seeking even more resources

December 19, 2025

At least 1,000 people have died while waiting to be medically evacuated from Gaza

December 19, 2025

They gave $2.5 million to the hero who disarmed the terrorist in Sydney — “Do I deserve it?” he asked emotionally

December 19, 2025

Putin attacks Europeans over Russian assets: “Thieves who will face serious consequences”

December 19, 2025

Code “Maritime Arc”: The US plan that is redrawing the map of Greece from North to South

December 19, 2025

Symbolic roadblocks and blockades in Imathia, Pella, Pieria, and Kavala: which roads are closing and when

December 19, 2025

Case of bacterial meningitis in a 17-year-old student in Chania after a school trip to the Czech Republic

December 19, 2025

Enhanced metro services on Sundays, December 21 and 28

December 19, 2025
All News

> Economy

Papathanasis: We will meet all economic targets while also seeking even more resources

Greece will meet all its economic targets while at the same time pursuing additional funding, Alternate Minister of National Economy and Finance Nikos Papathanasis said in Parliament

December 19, 2025

Major crackdown begins on undeclared rents and “grey” properties – What the MIDAS platform changes for every property

December 19, 2025

Hellenic Competition Commission: The distortions that keep deposit interest rates low

December 18, 2025

Lamda and Athens Medical Group agreement for the development of a healthcare park at the Ellinikon

December 18, 2025

A plan for automatic collection of VAT from the State: The two scenarios under consideration

December 18, 2025
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2025 Πρώτο Θέμα