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Varoufakis expects to reach deal with creditors

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(7 May 2015) RESTRICTION SUMMARY: AP CLIENTS ONLY SHOTLIST AP TELEVISION - AP CLIENTS ONLY Brussels, Belgium - 7 May 2015 1. Greek Finance Minister Yanis Varoufakis arriving, getting out of car, shaking hands with officials surrounded by media 2. Cutaway cameramen 3. Varoufakis shaking hands with Belgian Finance Minister Didier Reynders and walking to lectern 4. Cutaway camera 5. SOUNDBITE (English) Yanis Varoufakis, Greek Finance Minister "I trust that an agreement will be in the offing in the next days, mostly weeks. However, while we are confident of such an agreement, it is particularly useful to ask why has it taken so long? Fruitless recriminations aside, one tangible reason that I want to put to you is that all sides, our side, the other side, have been focusing too

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(7 May 2015) RESTRICTION SUMMARY: AP CLIENTS ONLY

SHOTLIST

AP TELEVISION - AP CLIENTS ONLY

Brussels, Belgium - 7 May 2015

1. Greek Finance Minister Yanis Varoufakis arriving, getting out of car, shaking hands with officials surrounded by media

2. Cutaway cameramen

3. Varoufakis shaking hands with Belgian Finance Minister Didier Reynders and walking to lectern

4. Cutaway camera

5. SOUNDBITE (English) Yanis Varoufakis, Greek Finance Minister

"I trust that an agreement will be in the offing in the next days, mostly weeks. However, while we are confident of such an agreement, it is particularly useful to ask why has it taken so long? Fruitless recriminations aside, one tangible reason that I want to put to you is that all sides, our side, the other side, have been focusing too much on the strings to be attached to the next liquidity injection to the Greek economy and not sufficiently on a vision of how Greece can recover and develop sustainably."

6. Cutaway camera

7. SOUNDBITE (English) Yanis Varoufakis, Greek Finance Minister:

"We are certainly intending to pay the IMF and we will pay the IMF. If you are asking me to prognosticate what the Eurogroup of next Monday is going to come up with, you will excuse me if I refuse to do it. Because the whole point about democratic processes and these negotiations is that they are indeterminate and that no one party has the right to impose upon the rest, to impose upon the rest, his or her expectations or wishes."

8. Varoufakis and Reynders sitting on stage

9. SOUNDBITE (English) Yanis Varoufakis, Greek Finance Minister

"It is absurd that we should allow a common currency to divide peoples, like the Greeks and the Germans, who have been coming together over decades. It is absurd that Greeks should blame the Germans and that the Germans should stereotype the Greeks as if it were ever possible that all the grasshoppers moved to the south of Europe and all the ants live in the north."

10. Wide of stage

STORYLINE:

Greek finance minister Yanis Varoufakis said on Thursday he expects Athens and its creditors to reach an agreement "in the next days, mostly weeks" but he refused to speculate over the outcome of the next Eurogroup meeting on May 11.

Varoufakis was speaking in Brussels at a panel discussion hosted by the European Business Summit.

Greece and its European creditors have been at an impasse for over three months on what reforms the country should make to get more rescue loans to keep it solvent.

A potential Greek debt default could threaten Europe's joint currency and roil the global economy.

The Greek government has been hesitant to make reforms that might hurt the living standards of Greeks, who have been through five years of brutal spending cuts and tax increases.

The creditors want to make sure Greece's economy and public finances are on the right track so the country can pay its loans back.

Greece is running out of cash and faces a repayment to the International Monetary Fund (IMF) on Tuesday worth over 700 million euros (788 million US dollars).

To make it, it will have to scrape together spare reserves from local governments and state entities like hospitals.

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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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