Greece threatens new elections if eurozone rejects planned reforms

Athens’ finance minister, Yanis Varoufakis, says referendum or new election on fiscal policy is possible if deadlock remains

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Racheting up the pressure ahead of a crucial meeting of his eurozone counterparts on Monday, the Greek finance minister, Yanis Varoufakis, said the leftist-led government would hold a plebiscite on fiscal policy if faced with deadlock.

“We are not attached to our posts. If needed, if we encounter implacability, we will resort to the Greek people either through elections or a referendum,” he told Italy’s Il Corriere della Sera in an interview on Sunday.

Varoufakis was the second high-ranking official in as many days to suggest the possibility of a referendum being held. On Saturday, Panos Kammenos, who heads the government’s junior partner in office, the small, rightwing Independent Greeks party, said such a ballot could be a “possible response” to protracted disagreement with creditor bodies propping up Greece’s debt-stricken economy.

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Reforms have been set as a condition for unlocking a €7.2bn (£5.2bn) tranche of aid that Athens has yet to draw down from its €240bn bailout programme agreed with the EU, the European Central Bank (ECB) and the International Monetary Fund (IMF). With Greece shut out of capital markets, the disbursement is vital to meeting debt obligations.

Full article: Greece threatens new elections if eurozone rejects planned reforms (The Guardian)