Defiant Varoufakis Says He’ll Quit If Greeks Endorse Austerity

Yanis Varoufakis said Greece won’t “extend and pretend” that it can pay its debts, vowing to quit as finance minister if voters don’t support the government in Sunday’s referendum.

   With banks shut and the economy hobbled by capital controls, Varoufakis said in a Bloomberg Television interview in Athens that he would “rather cut my arm off” than sign a deal that fails to restructure Greece’s debt. The International Monetary Fund said the country needs at least another 36 billion euros ($40 billion) from the euro region over the next three years and easier terms to make the debt sustainable.

   “We desperately want to stay in the euro,” Varoufakis said. “We are going to win on Sunday.” The 54-year-old economics professor said he “will not” continue in his post if Greece endorses austerity in the vote.

   The minister’s comments illustrate the gulf between Greece’s government, which swept into office on a wave of discontent about budget cuts, and the creditors who are threatening to push it out of the euro.

   European governments led by Germany have condemned last weekend’s decision by Prime Minister Alexis Tsipras to pull out of talks and call a snap referendum on the conditions for financial aid. Polls suggest the outcome is too close to call.

Πηγή: bloomberg.com