What the New Greek Finance Minister Said Today to the EU and Banksters

Bloomberg reports:

Finance Minister Yanis Varoufakis said Greece won’t seek an extension of its bailout agreement, setting the government on course to enter March without a financial backstop for the first time in five years.

Greece won’t engage with officials from the troika of official creditors who have been policing the conditions of its rescue since 2010. It’s five-day-old government wants a new deal with the European Union that allows for more spending, Varoufakis said at a joint press conference with Eurogroup Chief Jeroen Dijsselbloem in Athens, Friday.
“We don’t plan to cooperate with that committee,” Varoufakis said. “The Greek state has a future, but what we won’t accept has a future is the self-perpetuating crisis of deflation and unsustainable debt.”

The standoff could see Greek banks effectively excluded from European Central Bank liquidity operations and the government with no source of funding, having rejected EU aid while still shut out of international markets.

‘Not Bluffing’

“These people are not bluffing,” Theodore Pelagidis, a senior fellow at the Brookings Institution, said by phone. “There is no way that Greece will make it through February. The situation will be get worse every day, and at the forefront of the drama will be the country’s banks.”

 Joe Weisenthal says this pic says it all and is Varoufakis' position  :