Greek Finance Minister: No doubt a deal will be reached

FXStreet (Córdoba) - Speaking at a conference, Greek Finance Minister Yanis Varoufakis said he expects to meet the EU halfway within the next 2 days and explained why negotiations with the EU broke down without an agreement today.

Varoufakis said he has no doubt an agreement will be reached in the end but Greece will continue to reject any measures that contribute to recession. He said it is illogical to ask Greece to complete a plan it rejects.

According to Greek minister, he was ready to sign an agreement that was withdrawn minutes before the Eurogroup began.

“Unfortunately, the splendid document I was ready to sign there and then without a second thought was withdrawn minutes before the Eurogroup began by the Eurogroup’s President (Jeroen Dijsselbloem), and it was replaced with another document that took us back not just to last Thursday but indeed it took us back to last Wednesday”, when Greece was “pressured” to sign an extension of the programme, said Varoufakis.

Varoufakis said Greece wants more than just "cosmetic changes" to the rescue terms. He said “some flexibility” is a vague definition and it was never specified. Conditionalities must be specific and precise in order for the Hellenic country to take an extension of the bailout programme.

“We are ready and willing to do whatever it takes to reach an honorable agreement over the next 2 days”, said Varoufakis . “Our government will accept all the conditions that it can deliver upon, and which not reinforce our society crisis”.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD holds gains above 1.13 on mixed US COVID-19 stats

EUR/USD holds the higher ground above 1.13 as US stocks rise and the safe-haven dollar retreats. Investors are shrugging off EU disagreements amid mixed US coronavirus stats. 


Gold consolidates above $1800, holds onto gains looking at $1825

The yellow metal rose further and reached the highest level since 2011 at $1818/oz after the beginning of the American session. It then moved off highs, finding support at $1808.

Gold News

GBP/USD edges up amid Sunak's fiscal stimulus, shrugging off Brexit

GBP/USD is trading above 1.2550, shrugging off Germany's Merkel comments that Brexit talks made little progress and may end with no deal. UK Chancellor Sunak presented fiscal plans including a retention bonus for firms that re-hire workers. 


Altcoin season rocks on under the radar

The Altcoin segment is boiling hot, laying the foundations for a massive bull market. Despite the apparent calm on the surface, Cardano, Chainlink or Ripple knock hard on the heavens' door. The war for dominance distracts Bitcoin and Ethereum, focused on the power play.

Read more

WTI on the move to fresh session highs, testing $41 the figure

We are now over 1% higher on the day despite the crude oil inventories in the United States swelling by 5.7 million barrels in the week to July 3, information that was provided by the Energy Information Administration. 

Oil News