Greek government-debt crisis

Italian FinMin Pier Carlo Padoan and former PM Massimo D’Alema referred to the resurgent Greek economic crisis this week, with their positions hosted on Friday in Italian press.

Alexis Tsipras is holding an emergency meeting with the economic team on his Cabinet.

The meeting includes Deputy PM Yannis Dragasakis, FinMin Yanis Varoufakis, Minister of the Economy Yiorgos Stathakis and deputy minister of State Eucleides Tsakalotos.

An ultimatum for an urgent agreement until the 16th of February’s Eurogroup was sent by European partners in last night’s Euroworking group meeting.

The climate in the Finance Ministry is heavy. Information abounded that they are putting an unrealistic pressure on us on an extension of the current program.

CNBC provided an extensive report on the entire spectrum of Greek debt discussions in Europe and abroad, adding characteristically that Europeans must “wake up”.

After meeting with Yanis Varoufakis, German Finance Minister Wolfgang Schaeuble said he was unable to bridge differences with his Greek counterpart over plans by the SYRIZA-led government to renegotiate Greece's debt and reverse austerity measures.

Greek FinMin Yanis Varoufakis stood his unconventional ground on Friday and reiterated that he does, indeed, agree with two-thirds of the memorandum that previous Greek governments signed with international creditors.

The new Greek government must present its strategy to the eurogroup on how Athens wants to deal with its debt problems, a German finance ministry spokesman said on Friday.

?It is completely open what will happen after the end of the current bailout program,? the spokesman added.

Greek debt is unsustainable, Finance Minister Yanis Varoufakis said Friday, voicing optimism that the SYRIZA-led government will reach a compromise with the country's European partners.

SYRIZA's Zoe Constantopoulou was on Friday elected as Greece's second female parliamentary speaker, with a record number of 235 votes.

Greece will be able to reach agreement with its European partners and any turmoil poses little risk for Spain where the government is poised to raise its growth forecasts, Spanish Economy Minister Luis de Guindos said.