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Tensions mount between Greece, EU

By Bloomberg | China Daily | Updated: 2015-03-12 08:24

Ask Greek Finance Minister Yanis Varoufakis about his country's predicament, and you're likely to get a very different response from the one echoing around the euro region.

The Athens University professor said he's convinced the six-week-old government is doing what's needed to secure more funding and avoid bankruptcy. His counterparts, during a euro-area finance ministers' meeting, spoke of mixed messages, dawdling and a lack of detail over Greece's deteriorating financial situation.

Impressions aside, Greece is running out of time, money and friends. France's Michel Sapin, whose government had made the most conciliatory noises toward Greek calls for less austerity, expressed frustration with Varoufakis. Spain's finance minister, concerned about an anti-austerity insurrection at home, also hardened the rhetoric.

Tensions mount between Greece, EU

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