“Greece will manage without new loan if debt is restructured”

The Greek Finance Minister says Athens will manage without a new loan if its debt is restructured.
Yanis Varoufakis says restructuring the country’s debt is one of the main conditions required for Greece to be able to continue without a new loan. He warned that the shaky eurozone monetary system needs change otherwise it will die. Regarding a possible exit from the single currency bloc, he said backtracking now will lead to an unforeseen negative situation. Greece is waiting to see if it has secured more bailout funds after resuming talks with international creditors last week. A deal is needed for Athens to unblock 7-point-2 billion euros from its EU-IMF bailout before state coffers run out of funds.

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