The Greek public debt will become sustainable, said Finance Minister Yanis Varoufakis after comments that followed his interview with the Financial Times, where he said that Greece will not ask for a debt write-off but will seek to replace the debt with new bonds. Varoufakis made a new announcement today as an answer to criticisms that the new government backed down from the debt haircut demand. “If we need to use euphemisms and financial tools to pull Greece out of this debt colony condition, we will do so. The bottom line, though, is this: The Greek public debt will become sustainable, initiating the prospect of real growth, and the Greek people will finally breathe. The government and the Finance Minister are not backing down, despite the fact that some people are saddened by our determination,” Varoufakis stated.
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