17 Feb 2015
Varoufakis certain of a deal in spite of the breakdown in the debt deal – AceTrader
FXStreet (Barcelona) - The AceTrader Team comments on the developments in the Eurogroup meeting, adding that in spite of the breakdown in debt deal talks, Greece FM Varoufakis expressed certainty over a possible deal in the next 48 hours.
Key Quotes
“Reuters reported Greek FinMin Yanis Varoufakis said on Monday that he had been prepared to agree to a deal with creditors that would have given Athens 4 to 6 months additional credit in return for putting major new budget policies on hold.”
“He said the European Commission had put such a suggestion to him before Mon's meeting of EZ FinMins but that it had been superseded by a different draft proposal - fm Eurogroup President Jeroen Dijsselbloem - that he could not sign because it obliged Athens to extend its current bailout package. Dijsselbloem's proposal was "highly problematic," he said.”
“A Commission official said EU Economic Affairs Commissioner Pierre Moscovici had "contributed ideas" in discussions with Varoufakis but that only the Eurogroup proposal was the object of negotiations.”
“Varoufakis said he remained ready to sign a proposal based on Moscovici's ideas. "I was prepared to sign it this morning, this afternoon, I would sign it at midnight, tomorrow at 9 in the morning. I would even consider signing some (other) version of it because the point here is not to allow an impasse”."
“He said he was optimistic a deal would be struck within the next 48 hours. "Europe will do the usual trick. It will pull a good agreement, an honorable agreement, out of what seems to be an impasse," he said.”
Key Quotes
“Reuters reported Greek FinMin Yanis Varoufakis said on Monday that he had been prepared to agree to a deal with creditors that would have given Athens 4 to 6 months additional credit in return for putting major new budget policies on hold.”
“He said the European Commission had put such a suggestion to him before Mon's meeting of EZ FinMins but that it had been superseded by a different draft proposal - fm Eurogroup President Jeroen Dijsselbloem - that he could not sign because it obliged Athens to extend its current bailout package. Dijsselbloem's proposal was "highly problematic," he said.”
“A Commission official said EU Economic Affairs Commissioner Pierre Moscovici had "contributed ideas" in discussions with Varoufakis but that only the Eurogroup proposal was the object of negotiations.”
“Varoufakis said he remained ready to sign a proposal based on Moscovici's ideas. "I was prepared to sign it this morning, this afternoon, I would sign it at midnight, tomorrow at 9 in the morning. I would even consider signing some (other) version of it because the point here is not to allow an impasse”."
“He said he was optimistic a deal would be struck within the next 48 hours. "Europe will do the usual trick. It will pull a good agreement, an honorable agreement, out of what seems to be an impasse," he said.”