A polite, yet inconclusive meeting
Greek FinMin Yanis Varoufakis outlined the new Greek government’s economic “raison d’être” to a French audience on Sunday in comments after a hastily-scheduled visit to Paris for talks with his French counterpart Michel Sapin. Varoufakis said loans given to Greece can’t be paid off unless austerity measures end and growth becomes a top priority.
The latest phrase used by top SYRIZA cadres is called a “bridge”, of an undefined duration, to replace the current bailout schemes.
Following the meeting with Sapin, Varoufakis said he presented Athens’ new views.
“The loans given to Greece mostly served to alleviate the country’s national debt. Such was the level of the loan that the Greek State was unable to cover its payoff. This incident had a negative impact on our European partners too. Our purpose is to curb the relevant cost in order to pay everything off, interest included,” he said, avoiding any direct reference to a “haircut.”
Pleasantries aside, when the Greek FinMin referred to the European South and its fiscal ordeal, Sapin interrupted and said: “it’s not easy to distinguish between which country belongs to the south and which doesn’t.”
Moreover, Sapin didn’t mince his language, citing a “decisive role” by the French-German axis in Europe — which “between the lines” more-or-less means that no decision will be taken unless Berlin is “on board”.
Our plans for a leap of change were presented to the French FM
Varoufakis: Our resolve to fulfill European interests before to Greek interests was clearly shown today
It is our purpose to relieve Europe by curtailing the cost of borrowing. Rendering this feasible and paying off the debt can only be achieved through growth.
Schauble proposed we meet at the first opportunity
I don’t believe that we should get the next loan installment
What we want is a new contract with Europe
Whoever steps forward offering help in the development of an improved loaning program is welcome, including Lazard.
Ask me anything
Explore related questions
