New Greek Government: “End the vicious cycle”

Greece’s newly elected government will look to “end the vicious cycle” of bailout and borrowing that has persisted through years of financial crisis, Finance Minister Yanis Varoufakis told CNBC on Tuesday.

Varoufakis is a member of the Cabinet of Alexis Tsipras, who was elected prime minister on Sunday. Tsipras leads the leftist Syriza party, which has formed a coalition with the right-wing Independent Greeks party.

The new government has made renegotiating Greek debt to the European Central Bank a priority. It wants European leaders, the European Central Bank and the International Monetary Fund to “table [its] comprehensive proposal for ending this never-ending Greek crisis,” Varoufakis said in an interview on CNBC’s “Fast Money: Halftime Report.”

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.