Varoufakis Heads to Germany as Markets Bless Debt Retreat
Greek Finance Minister Yanis Varoufakis speaks to journalists after a meeting with the President of the European Central Bank Mario Draghi, on Feb. 4, 2015.
Photographer: Hannelore Foerster/Getty ImagesThis article is for subscribers only.
Greek Finance Minister Yanis Varoufakis arrived in Germany with the wind at his back: the biggest rally in stocks since the days of the drachma and a plunge in the week-old government’s borrowing costs.
All he had to do was drop a demand for a debt writedown, retreating from a central campaign promise.