FinMin Varoufakis: Greece can fight Grexit in EU courts

Greece’s Finance Minister Yanis Varoufakis said that Greece won’t hesitate to take the legal rout to EU courts if Greece’s stay in the Eurozone is threatened.

“Greece has threatened to seek a court injunction against the EU institutions, both to block the country’s expulsion from the euro and to halt asphyxiation of the banking system,” reported the Telegraph.

“The Greek government will make use of all our legal rights,” the finance minister told the British newspaper.

“We are taking advice and will certainly consider an injunction at the European Court of Justice. The EU treaties make no provision for euro exit and we refuse to accept it. Our membership is not negotiable,“ he told the Telegraph.

After the Greek government decided to hold a referendum asking its citizens to vote YES/NO on the bailout deal offered to debt-ridden Greece by its creditors, the Governing Council of the European Central Bank made a decision Sunday to freeze the level of emergency liquidity assistance to Greek banks resulting in the implementation of capital controls and fears of Grexit.