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FM: Current govt treated less leniently than previous one

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(5 Mar 2015) The Greek Finance Minister declared on Wednesday that his government was being treated less leniently in debt negotiations than the previous administration and other bailed-out Eurozone members. Speaking at a Greek-French Chamber of Commerce event in Athens, Yanis Varoufakis said his government deserves leeway given its commitment to reform. Greece is pressing bailout lenders to reduce its debt load with more generous repayment terms that would effectively write off a portion of its debt. Earlier this week, the Spanish Finance Minister Luis de Guindos said a third debt package for Greece was being negotiated, though his ministry said a third bailout was "hypothetical." De Guindos later said Greece would need a new accord or program if it does not regain access to market

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(5 Mar 2015) The Greek Finance Minister declared on Wednesday that his government was being treated less leniently in debt negotiations than the previous administration and other bailed-out Eurozone members.

Speaking at a Greek-French Chamber of Commerce event in Athens, Yanis Varoufakis said his government deserves leeway given its commitment to reform.

Greece is pressing bailout lenders to reduce its debt load with more generous repayment terms that would effectively write off a portion of its debt.

Earlier this week, the Spanish Finance Minister Luis de Guindos said a third debt package for Greece was being negotiated, though his ministry said a third bailout was "hypothetical."

De Guindos later said Greece would need a new accord or program if it does not regain access to market financing by June.

He said Greece could need as much as 50 (b) billion euros (56 billion US dollars) in further assistance.

Varoufakis rejected talk of a third deal.

"I don't know who said this, or who presented all this as a debate, even using specific sums. This is as far from the truth as it can get," he said late Wednesday.





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Yanis Varoufakis
An accidental economist Let me begin with a confession: I am a Professor of Economics who has never really trained as an economist. But let’s take things one at a time.

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