Greece Finance Minister Varoufakis says, 'Europe comes first'

The economist-turned-finance minister seeking to renegotiate Greece’s huge debt obligations says his priority is the well-being of all Europeans and has ruled out accepting more bailout cash.

After talks with his French counterpart, Yanis Varoufakis said a new debt deal was needed within months.

Michel Sapin said France was ready to help Greece settle with its creditors.

Greece’s leftist anti-austerity Syriza party won last Sunday’s election with a pledge to write off half the debt.

Greece still has a debt of €315bn – about 175% of gross domestic product – despite some creditors writing down debts in a renegotiation in 2012.

Beginning his first swing around European capitals and finance hubs in Paris, Mr Varoufakis is to travel next to London and Rome for more talks.

His comments follows remarks on Saturday by new Greek PM Alexis Tsipras, who said he was confident Greece could reach a deal with creditors.

German Chancellor Angela Merkel has ruled out debt cancellation, saying creditors had already made concessions.

Source-BBC