By Costas Pitas and Alastair Macdonald
Greek Finance Minister Yanis Varoufakis headed for a showdown with euro zone finance ministers on Wednesday after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout.
The former academic said he was ready for a clash with euro zone paymaster Germany and its allies over Greece’s determination to scrap austerity measures, end cooperation with the “troika” of EU/ECB/IMF officials overseeing the bailout programme and demand a “haircut” restructuring its debt.
“If a debt can no longer be paid off then that leads to a haircut,” Varoufakis told German magazine …read more
Source: Cyprus Mail
