Eurogroup finance ministers agreed to vague terminology in Greek bailout extension deal so that they can convince their respective parliaments to accept it, said Finance Minister Yanis Varoufakis on Greek television. Speaking in an ANT1 television interview, Varoufakis defended the four-month extension deal on Greece’s bailout that received severe criticism from opposition and certain SYRIZA members alike. Varoufakis said that Greece had no other option than sign such a deal because it is in serious need of funds. There were compromises on both sides. However, he said, Greece’s basic principles were not compromised. “The alternative of the agreement that we signed was to leave the euro zone. That would have been a disaster. What we achieved is even better,” he said. “We are proud of the vagueness in the agreement. Regarding primary surplus, by not specifying what the target is, it is like they are saying they understand that we can’t achieve 4.5 percent in the next ten years because that would destroy the private sector,” Varoufakis said, adding: “We didn’t put a number because the agreement must be approved by other parliaments. This is why we agreed to leave a blank on that number. I will be the first finance minister who will not promise a number unless I am certain that I can achieve it. If I promise a number, I will be lying.” Varoufakis said the vagueness in terminology required the skills of Greece’s European partners as well. Where the Greek side succeeded was in turning to Eurogroups into political discussions instead of financial negotiations: “We exercised veto in the first two Eurogroups; we insisted on having a political discussion in the Eurogroup meeting.” He also said that the list of proposed measures was written with the sole aim to put an end to the memorandum and the agreement is a transition deal. “The text is not a policy statement. It is a fig leaf to put an end to the memorandum.” Regarding specific measures agreed, the Greek finance minister said that there will be no raises in value added tax on medicine, books and theaters and Greek islands and border towns will continue to have lower VAT. He also said that draft laws on outstanding debts will be tabled in parliament this weekend. He stressed that the first new laws will deal with the humanitarian crisis. Regarding criticism he received from SYRIZA members, he said that he was saddened by MEP Manolis Glezos’ disapproval but he is sure that he can convince him once they get together in Brussels. As for economics expert Yiannis Milios he said it is sad to hear SYRIZA members repeat New Democracy statements.
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