They did not propose a sustainable agreement, Greek Finance Minister Yanis Varoufakis said in a press conference after Saturday’s Eurogroup. Varoufakis noted that the creditors’ proposal would not pass in the Parliament, adding that the government does not have a mandate to take recessionary measures. The Greek Finance Minister underlined that the rejection of Greece’s request for an extension of the program hurts the Eurogroup’s credibility. “In these crucial moments, the Greek government is fighting to have a last minute deal by Tuesday,” Varoufakis told reporters in Brussels. He said the refusal of Eurozone Finance Ministers to accept Greece’s request for a short extension to the bailout program, leading to the July 5 referendum, struck a serious blow to one of the single currency’s foundations. Earlier on Saturday, Eurogroup President Jeroen Dijsselbloem announced that Eurozone Finance Ministers decided not to give an extension to the Greek program after June 30. (source: ana-mpa)
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