Defiant Varoufakis Says He’ll Quit If Greeks Endorse Austerity
Varoufakis in Two Minutes: In an interview with Bloomberg TV's Guy Johnson, Greek Finance Minister Yanis Varoufakis said he would step aside if Sunday's referendum backs terms offered by international creditors
Yanis Varoufakis said Greece won’t “extend and pretend” that it can pay its debts, vowing to quit as finance minister if voters don’t support the government in Sunday’s referendum.
With banks shut and the economy hobbled by capital controls, Varoufakis said in a Bloomberg Television interview in Athens that he would “rather cut my arm off” than sign a deal that fails to restructure Greece’s debt. The International Monetary Fund said the country needs at least another 36 billion euros ($40 billion) from the euro region over the next three years and easier terms to make the debt sustainable.