Greece Continues to Battle to Stave Off Cash Crunch

Greek Finance Minister Yanis Varoufakis presented his European counterparts with four principles for a new financing deal, according to two euro-area officials, as Greece battles to stave off a cash crunch and stay in the currency bloc.

Greece wants a deal that provides for financial stability, financial sustainability and debt restructuring, while addressing Greece’s humanitarian crisis, Varoufakis said during talks Wednesday in Brussels without offering details, according to the officials, who asked not to be named because the talks are private.

Finance ministers of the 19 euro nations met on Wednesday after Germany and Greece took clashing positions heading into negotiations that will continue Feb. 16 in the Belgian capital. Dutch Finance Minister Jeroen Dijsselbloem, who heads the meetings, said the ministers wanted to hear Greece’s proposals.

Bloomberg

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