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Greece: Varoufakis calls hypocrisy in the processes of debt restructuring01:46

Greece: Varoufakis calls hypocrisy in the processes of debt restructuring

Greece, Athens
May 19, 2015 at 12:18 GMT +00:00 · Published

Greek Finance Minister Yanis Varoufakis stated that "political constraints" were stopping the Greek Government and its European's lenders to enter a "rational debate," while speaking at the Emergency Economic Summit for Greece in Athens, Tuesday. Varoufakis recalled the stock exchange's habits on restructuring unpayable debts and regretted the "official" rules preventing Greece from doing the same with their loans. The difference between the private rules of finance and the rules pertaining to nations, Varoufakis lamented, create the conditions for failure - and a perpetuation of "pretending and extending."

According to Varoufakis, the only reason why he is today minister of finance is due to the collapse of what he called the "consensus" between the central left and central right and the "misleading" of parliaments over the last few years, leading to the Greece's economic crisis.

Greece: Varoufakis calls hypocrisy in the processes of debt restructuring01:46
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Greek Finance Minister Yanis Varoufakis stated that "political constraints" were stopping the Greek Government and its European's lenders to enter a "rational debate," while speaking at the Emergency Economic Summit for Greece in Athens, Tuesday. Varoufakis recalled the stock exchange's habits on restructuring unpayable debts and regretted the "official" rules preventing Greece from doing the same with their loans. The difference between the private rules of finance and the rules pertaining to nations, Varoufakis lamented, create the conditions for failure - and a perpetuation of "pretending and extending."

According to Varoufakis, the only reason why he is today minister of finance is due to the collapse of what he called the "consensus" between the central left and central right and the "misleading" of parliaments over the last few years, leading to the Greece's economic crisis.