Greek government-debt crisis

Greece and the OECD agreed on Wednesday to work together on reforms to the Greek economy, but Athens insisted it would not let outsiders decide what policies it should adopt.

Finance Minister Yanis Varoufakis told German Stern magazine that a debt that can't be paid off should lead to a cut. "We can call it many things," he added, nothing that the Greek as much as the German language were equally as verbally rich.

“The new government has committed to implement reforms needed by Greece” stated Alexis Tsipras during his joint speech with Angel Gurria of the OECD. “Anything that previous governments did not dare to do, we can, because we have made commitments and we have no strings attached.

Greek Prime Minister Alexis Tsipras comfortably won a confidence vote on his plan to cancel a deeply unpopular bailout program and challenge European leaders as both sides prepare for a showdown at meetings in Brussels this week.

Greece's finance minister said Greece would not be able to service its debt in the short-term so would need a haircut, or debt restructuring, he told Germany's Stern magazine.

"If a debt can no longer be paid off then that leads to a haircut," Yanis Varoufakis said in a pre-publication copy of the interview made available on Wednesday.

China's Foreign Ministry said on Wednesday it had no knowledge of any offer by Beijing for aid to Greece after Greece's deputy foreign minister said China had offered economic support even though Athens had not requested it.

European stocks were little changed before a meeting between Greek Finance Minister Yanis Varoufakis and his euro-area counterparts in Brussels.

The Stoxx Europe 600 Index dropped 0.1 percent to 372.56 at 8:07 a.m. in London. Stocks climbed Tuesday amid investor optimism that Greece can reach an agreement on new bailout terms with its euro-region creditors.

Greek PM Alexis Tsipras won the confidence vote in Greek parliament on Tuesday. He is to form a government consisting of his left-wing party SYRIZA and coalition partner, the righ-wing conservatives from ANEL.

Greece's SYRIZA-led government has won a confidence vote in Parliament, ahead of high-stakes talks in Brussels with bailout creditors.

Lawmakers voted 162-137 for Prime Minister Alexis Tsipras' government, elected on January 25 on a platform pledging to radically overhaul austerity in the financially struggling country.

Greece's prime minister Alexis Tsipras said Tuesday that the country "cannot return to an age of bailouts and suppression," ahead of critical talks with Athens's EU creditors.

"There is no return," he said in a speech to parliament the day before Greece presents a proposal for a new reform deal at an extraordinary meeting of eurozone foreign ministers in Brussels. [AFP]