16:28 GMT +323 October 2018
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    Greek Finance Minister Yanis Varoufakis

    Greece Doesn't Need Another Bailout if Debt is Restructured – Greek FM

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    Greek Finance Minister Yanis Varoufakis claimed that Greece does not need an additional bailout stressing this could only happen if the country's debt is restructured.

    The remarks came after the Syriza government resumed talks with the troika of international creditors to unlock 7.2 billion euros ($8 billion). Earlier, in April, Greek Deputy Foreign Minister Euclid Tsakalotos was put at the helm of a new group conducting the negotiation. The group was previously headed by Varoufakis.

    Greece has to transfer over $1 billion in loan repayments to the International Monetary Fund (IMF) by May 12. Greece's debt to the troika, comprising the European Union, the European Central Bank and the IMF, is estimated to be some $270 billion.

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    Tags:
    debt, bailout, talks, Troika, Yanis Varoufakis, Greece
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