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ANGELA MERKEL

Greek FM calls for Berlin talks on debt deal

New Greek Finance Minister Yanis Varoufakis said on Sunday he would like to hold talks "soon" in Berlin and Frankfurt to explain his austerity-hit country's position on the repayment of its debt.

"I'm really eager to go to Berlin… Madrid, Frankfurt," Varoufakis told reporters in Paris where he has just begun a European charm offensive as Greece seeks to renegotiate its 240 billion euro ($270 billion) bailout despite Germany's insistence that it will refuse to consider any debt relief.
 
"It is essential that we meet," Varoufakis said, referring to German Finance Minister Wolfgang Schäuble.
 
Speaking at a press conference after meeting his French counterpart Michel Sapin, Varoufakis  said he wanted to see a global agreement on his heavily indebted country's financial situation "by the end of May".
 
Between now and then, Greece was "not going to ask for any new loans", he said. 
 
The German finance ministry said it had not yet received an "official request" for such a visit, according to a spokesman in Berlin.
 
Greece's Prime Minister Alexis Tsipras has tried to calm nerves and markets spooked by his radical plans, saying he did not intend to renege on commitments to the European Union and International Monetary Fund.

"It has never been our intention to act unilaterally on Greek debt," Tsipras said in a statement to Bloomberg News. 

But he said Greece needed greater leeway to tackle root problems in its economy, such as tax evasion, corruption and policies which favour only a wealthy few.

"We need time to breathe and create our own medium-term recovery programme," he said.

Today's meeting is likely to have been one of the easiest of the many Varoufakis has ahead of him, as Sapin has already said the EU should be open to restructuring Greek debt or extending the bailout terms. 

Amid the flurry of diplomacy, Tsipras spoke with European Central Bank chief Mario Draghi on Saturday night and has booked in meetings with Italian Prime Minister Matteo Renzi, French President Francois Hollande and European Commission President Jean-Claude Juncker this week.

German Chancellor Angela Merkel on Saturday ruled out fresh debt relief, telling the Hamburger Abendblatt daily: "There has already been voluntary debt forgiveness by private creditors, banks have already slashed billions from Greece's debt."

"I do not envisage fresh debt cancellation," she said, as a new poll for broadcaster ZDF found 76 percent of Germans oppose any debt reduction.

Portuguese Prime Minister Pedro Passos Coelho and Finnish Prime Minister Alexander Stubb also oppose any debt relief. Despite a restructuring in 2012, Greece is still lumbered with a debt pile of more than 315 billion euros, upwards of 175 percent of gross domestic product (GDP) — an EU record. 

But in its first week in power, the government scrapped the privatisation of Greece's two main ports and the state power company and announced a major increase in the minimum wage.

Varoufakis has further raised the stakes by refusing to continue talks with the much-hated EU-IMF negotiating team known as the "troika", saying they want to deal only with individual governments.

Martin Schulz, the German head of the European Parliament, said this position was "irresponsible", but the Greek minister argued it was pointless dealing with the troika since they are not authorised to renegotiate the bailout.

"Why should they waste their energy and their time?" he told the To Vima weekly.



Varoufakis had his strained meeting on Friday with Jeroen Dijsselbloem, who represents finance ministers from the 19-nation eurozone. Dijsselbloem warned Athens that "taking unilateral steps or ignoring previous arrangements is not the way forward".

Greece has been promised another 7.2 billion euros in funds from the EU, IMF and European Central Bank, but this is dependent on the completion of a review of reforms at the end of February.

Varoufakis has said his government does not want the loans, but there are concerns Greece cannot survive without them. A particular issue is Greece's banks, which are helping the state stay afloat by purchasing its treasury bills — and which are being supported by the ECB. 

Bank of Finland governor Erkki Liikanen, who sits on the ECB's governing council, said it cannot continue lending Greece money unless Athens extends its bailout programme.

"Greece's programme extension will expire at the end of February so some kind of solution must be found, otherwise we can't continue lending," he told

public broadcaster Yle.

The stunning success of Tsipras' hard-left Syriza party in last Sunday's polls sent shockwaves through the continent and has lent encouragement to other anti-austerity parties. Tens of thousands of people took to the streets of Madrid on Saturday in support of the Spanish party Podemos, which has been surging in polls ahead of elections later this year.

POLITICS

Sleep, seaside, potato soup: What will Merkel do next?

 After 16 years in charge of Europe's biggest economy, the first thing Angela Merkel wants to do when she retires from politics is take "a little nap". But what about after that?

Outgoing German Chancellor Angela Merkel briefly closes her eyes and smiles at a 2018 press conference in Berlin.
Outgoing German Chancellor Angela Merkel briefly closes her eyes at a 2018 press conference in Berlin. Aside from plans to take "a little nap" after retiring this week, she hasn't given much away about what she might do next. Tobias SCHWARZ / AFP

The veteran chancellor has been tight-lipped about what she will do after handing over the reins to her successor Olaf Scholz on December 8th.

During her four terms in office, 67-year-old Merkel was often described as the most powerful woman in the world — but she hinted recently that she will not miss being in charge.

“I will understand very quickly that all this is now someone else’s responsibility. And I think I’m going to like that situation a lot,” she said during a trip to Washington this summer.

Famous for her stamina and her ability to remain fresh after all-night meetings, Merkel once said she can store sleep like a camel stores water.

But when asked about her retirement in Washington, she replied: “Maybe I’ll try to read something, then my eyes will start to close because I’m tired, so I’ll take a little nap, and then we’ll see where I show up.”

READ ALSO: ‘Eternal’ chancellor: Germany’s Merkel to hand over power
READ ALSO: The Merkel-Raute: How a hand gesture became a brand

‘See what happens’
First elected as an MP in 1990, just after German reunification, Merkel recently suggested she had never had time to stop and reflect on what else she might like to do.

“I have never had a normal working day and… I have naturally stopped asking myself what interests me most outside politics,” she told an audience during a joint interview with Nigerian writer Chimamanda Ngozi Adichie.

“As I have reached the age of 67, I don’t have an infinite amount of time left. This means that I want to think carefully about what I want to do in the next phase of my life,” she said.

“Do I want to write, do I want to speak, do I want to go hiking, do I want to stay at home, do I want to see the world? I’ve decided to just do nothing to begin with and see what happens.”

Merkel’s predecessors have not stayed quiet for long. Helmut Schmidt, who left the chancellery in 1982, became co-editor of the weekly newspaper Die Zeit and a popular commentator on political life.

Helmut Kohl set up his own consultancy firm and Gerhard Schroeder became a lobbyist, taking a controversial position as chairman of the board of the Russian oil giant Rosneft.

German writer David Safier has imagined a more eccentric future for Merkel, penning a crime novel called Miss Merkel: Mord in der Uckermark  that sees her tempted out of retirement to investigate a mysterious murder.

German Chancellor Angela Merkel forms her trademark hand gesture, the so-called “Merkel-Raute” (known in English as the Merkel rhombus, Merkel diamond or Triangle of Power). (Photo by Tobias SCHWARZ / AFP)
 

Planting vegetables
Merkel may wish to spend more time with her husband Joachim Sauer in Hohenwalde, near Templin in the former East Germany where she grew up, and where she has a holiday home that she retreats to when she’s weary.

Among the leisure activities she may undertake there is vegetable, and especially, potato planting, something that she once told Bunte magazine in an interview in 2013 that she enjoyed doing.

She is also known to be a fan of the volcanic island of D’Ischia, especially the remote seaside village of Sant’Angelo.

Merkel was captured on a smartphone video this week browsing the footwear in a Berlin sportswear store, leading to speculation that she may be planning something active.

Or the former scientist could embark on a speaking tour of the countless universities from Seoul to Tel Aviv that have awarded her honorary doctorates.

Merkel is set to receive a monthly pension of around 15,000 euros ($16,900) in her retirement, according to a calculation by the German Taxpayers’ Association.

But she has never been one for lavish spending, living in a fourth-floor apartment in Berlin and often doing her own grocery shopping.

In 2014, she even took Chinese Premier Li Keqiang to her favourite supermarket in Berlin after a bilateral meeting.

So perhaps she will simply spend some quiet nights in sipping her beloved white wine and whipping up the dish she once declared as her favourite, a “really good potato soup”.

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