About: Yanis Varoufakis Archives

Greece's creditors claim that they are acting on a mandate from the EU's citizens by refusing to be flexible. But public opinion in the union is not so hostile argue Michael Bechtel, Kirk Bansak, Jens Hainmueller and Yotam Margalit. 

France and Germany told Greece on Monday (6 July) to bring serious proposals to the eurozone summit today, in order to restart financial aid talks. In the meantime, the Netherlands warned that if the Greeks went to Brussels demanding changes because they felt supported by the "No" vote in the referendum, it would be ‘over’ for them.

“We respect the democratic choice of the Greek people. The "No" result unfortunately widens the gap between Greece and other eurozone countries,” said Valdis Dombrovskis, on Monday (6 July).

EU leaders will have a lot of soul searching to do today, following the victory by the "No" camp in the Greek referendum on Sunday (5 July), which rejected their proposed rescue package.

The EU and IMF issued warnings about the perilous state of Greece's finances yesterday (2 July), ahead of a referendum that will determine its future in the eurozone.

Greece's last-minute overtures to international creditors for financial aid yesterday (30 June) were not enough to save it from becoming the first developed economy to default on a loan with the International Monetary Fund. The situation remains so uncertain that even the Sunday referendum, on whether to accept the aid, hangs in doubt.

Assuming that there is no last-minute deal between Athens and its creditors, Greece will lose €16.3 billion of financing at midnight Washington time today (30 June), EU officials told the press in Brussels.

Commission President Jean-Claude Juncker made a last-minute offer to Athens in a bid to reach a bailout agreement before the deadline expires today (30 June), European Union and Greek government sources said.

Syriza’s call for a July referendum has revealed strong divisions within the Socialists & Democrats group. EURACTIV Greece reports.

Greek lawmakers on Sunday (28 June) authorised Prime Minister Alexis Tsipras' proposed 5 July bailout referendum, setting Greece on course for a plebiscite that has enraged international creditors and increased Greece's chances of exiting the eurozone.

No matter how desperate Greece's situation appears after its government suspended negotiations, Eurogroup President Jeroen Dijsselbloem left the door open Saturday (27 June) to avoid a Greek default next week.

Eurozone ministers on Saturday (27 June) rejected extending the Greek bailout programme, which expires on Tuesday (30 June). They said Prime Minister Alexis Tsipras reacted "negatively" by calling a referendum on the creditors' proposal and by recommending a 'No' vote.

Creditors offered a five month extension to the current Greek bailout which expires on 30 June, after Athens brought its proposals closer to the demands of the “institutions”.

Will Greece default? What about its status in the EU? EURACTIV is publishing up-to-the minute news stories and analyses of the endgame drama.

The EU called an emergency eurozone summit next week after Greek debt talks ended Thursday without a deal, sparking warnings of an "accident" that could push Athens out of the euro if there is no breakthrough by the end of the month.

Default by debt-wracked Greece loomed dangerously closer after last-ditch talks between Athens and its EU-IMF creditors collapsed on Sunday (14 May), bringing the threat of a Greek exit from the euro closer than ever.

A planned meeting between the leaders of Germany, France, and Greece today (10 June) is in doubt after Greece's reform proposals to unlock new funding to ward off a debt default fell well short, European Union officials said.

Greek Finance Minister Yanis Varoufakis has criticised Greece's creditors for making "no concessions" and turning the negotiations "into a war". In an interview with Germany's Tagesspiegel he explains why a plan for debt restructuring is a Greek prerequisite for an agreement.

The view that Greece has not achieved sufficient fiscal consolidation is not just false; it is patently absurd. Clearly, creditors’ demand for more austerity has nothing to do with concerns about genuine reform or moving Greece onto a sustainable fiscal path, writes Yanis Varoufakis.

Greece warned Sunday it has no money to repay the International Monetary Fund on time in June unless a deal is reached with its creditors, in a stark warning that the country could be just days away from defaulting.

Greece on Thursday (14 May) offered a concession to its international lenders by pushing ahead with the sale of its biggest port, Piraeus.

When radical leftist Alexis Tsipras stormed to victory in Greece's general election in late January, he briefly became an icon of the European left.

Greece has been invited to become a member of the development bank of the BRICS economies, including Russia and China, which is seeking to become a counterweight to the IMF, a move welcomed by Prime Minister Alexis Tsipras as "a happy surprise".

SPECIAL REPORT / Greek Minister of Finance Yanis Varoufakis is confident on reaching an agreement soon, as talks are progressing with international creditors.