Greece looks to reopen bailout talks as euro future in doubt

His sacrifice, after promising Greeks he would win a better deal within a day of their overwhelming referendum vote, suggested leftist Prime Minister Alexis Tsipras is determined to try to reach a last-ditch compromise with European leaders.


HAVANA TIMES – Greek voters have overwhelmingly turned down the terms of an global bailout in a historic rejection of austerity.

What is now essential for Greece, Varoufakis said, is that “the splendid NO vote be invested immediately into a YES to a proper resolution – to an agreement that involves debt restructuring, less austerity, redistribution in favour of the needy, and real reforms“.

Sakellaridis said the government would announce a new finance minister following a meeting between Tsipras and Greek political party leaders at the presidential palace, with the exception of the Neo-Nazi party, Efe news agency reported.

Russian president Vladimir Putin has spoken to Mr Tsipras, the Kremlin said.

He concluded: “One thing is clear: the place of Greece is, and remains, in Europe”. The Greek banking system continues to creak after a week of capital controls; some ATM machines are now only dispensing €50 per day, rather than the €60 limit.

Tsakalotos’ first task will be to present Greece’s ideas for breaking the deadlock at a meeting of eurozone finance ministers on Tuesday. The European Commission also said that it will respect the outcome of the referendum.

“At this stage, the Greek Government would turn to its Central Bank to provide guarantees for the Greek banks and this would in effect be a step away from Grexit with all the economic uncertainty this would give rise to”, Von Brockdorff said. Hollande was due to meet later on Monday with Germany’s Chancellor Angela Merkel to seek a joint response from the two biggest euro zone economies.

“The basis of a dialogue is on the table, but it’s up to Greece to show us that it takes the dialogue seriously and that it knows it can stay in the euro and that there are decisions to make”, Sapin told Europe 1 radio Monday.

It’s easy to read Varoufakis’ resignation as a performance staged to offer a face-saving exit (pun intended) to Europe, and open the door to further negotiations.

Varoufakis said in a statement he was told shortly after the referendum result that some other eurozone finance ministers and the country’s other creditors would appreciate his not attending the ministers’ meetings.

The head of VTB, Russia’s second-largest state bank, said over the weekend that Russian Federation might be interested in buying Greek assets if they were to be privatised.

0916 – Russian Federation hopes Greece will quickly reach a compromise deal with creditors, and questions regarding financial help for Greece should be addressed to Athens, a Kremlin spokesman says.

Jeroen Dijsselbloem, who chairs the eurozone group of finance ministers, said the vote was “very regrettable” for Greece.

Ex- Greek finance minister Yanis Varoufakis, who said before the referendum that he would resign in the case of a Yes vote, resigned anyway in an unexpected move.


0812 – U.S.-listed shares of National Bank of Greece are down 15 percent in pre-market trading.

Yes or no? Greeks vote on high-stakes bailout referendum -