Varoufakis: No issue of … bail-in (that’s ‘haircut’ of bank deposits)

Of course, hours before cap controls were announced on Sunday, he said the Greek government opposed the “very concept”

Days after flatly rejecting reports of capital controls… Yanis Varoufakis on Tuesday said there was “no issue of a bail-in”, i.e. a “haircut” of deposits in Greek banks.

His now famous statement on Sunday afternoon, namely, precluding capital controls, came hours before such a measure was announced, and implemented a day later. Moreover, a bank holiday for Monday turned into a week-long closure of banks in the country.

yanis_cap_controls

Returning to the limelight on Tuesday, he ruled out a bail-in, speaking to reporters after the conclusion of a Eurogroup teleconference.

 

In other matter, he said the main obstacle between Athens and its creditors is the issue of debt.