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> Politics

Lazard executive refers to ‘frantic’ Greek govt efforts to avoid bankruptcy

The French banker described the Greek government’s frantic efforts to avoid bankruptcy

Newsroom February 13 01:19

The head of the Wall Street investment bank Lazard’s Paris branch revealed this week that he’s been in constant contact with new Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis ever since the firm was hired to advise Athens on its — hoped for — debt restructuring.

In an interview to French magazine “Paris Match,” Matthieu Pigasse described the Greek government’s frantic efforts to avoid bankruptcy. The French banker said that when the three men are not talking on the phone, they are constantly exchanging SMS messages, sometimes even into the wee hours, with their primary goal being to avoid a worst-case scenario for Greece — i.e. the catastrophic development known as “Grexit”.

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“We found Matthieu Pigasse all doped up with energy drinks, candy and Coca Cola. He just spent another weekend in Athens with a group of 15 people. Forty-eight hours of incessant work for the development of a Greek rescue plan,” the French magazine writes.

“Ever since the election triumph of SYRIZA on Jan. 25, the Lazard executive has been in constant contact with Greece’s now “celebrity” Finance Minister, Yanis Varoufakis.

“The Athens Stock Exchange is extremely volatile and the state coffers are empty. A race has begun. The two men stay awake until the wee hours, exchanging e-mails and SMS messages,” the article adds.

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