Greece’s radical new government unveiled proposals yesterday for ending the confrontation with its creditors by swapping outstanding debt for new growth-linked bonds, running a permanent budget surplus and targeting wealthy tax-evaders.
Finance minister Yanis Varoufakis outlined the plan after a dramatic week in which the government’s first moves rattled its eurozone partners and rekindled fears about the country’s chances of staying in the currency union.
After meeting Mr Varoufakis in Downing Street, George Osborne, the UK finance minister, described the stand-off between Greece and the eurozone as the “greatest risk to the global economy”.
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