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"The logic of the 20th century clashes belongs to the past. In the last few decades, we, as Europe, wanted to create a new starting point and adopted a new logic: that of cooperation, primarily within Europe, but also beyond its borders," said Greek Finance Minister Yannis Varoufakis at the Ambrosetti economic forum on Lake Como.

As reported by the Italian media, the minister spoke about Greece’s economic future:

"So, yes, we are absolutely confident that we can do that, we can stabilise the Greek social economy over the next few weeks, we can complete the review of the 20th of February Eurogroup agreement (…) We have a commitment, all of us, to reach an agreement by the 20th of April – we hope to do this before that – regarding the reforms that are essential for Greece to be stabilized and create the circumstances for future growth.

By the end of the transition period, in June, we are going to have an agreement between Europe and Greece aimed at ensuring the growth of the Greek economy. We must tackle a number of problems affecting the Greek economy – but in a way the economists define as the ‘compatible stimuli’.

As our capability to repay our debt depends on our growth opportunities, our long-term proposal to our partners is to not only transfer the funds they have lent us on their nominal value, but instead to repay an amount, which will exceed the nominal value. This is fairly important. We don't wish to pay back by nominal value, we would like to pay some more money in return. If this were to be done, we must sign a certain agreement."

According to the Italian media, the minister added:

"I am hopeful that the ECB will guarantee the same flexibility as in 2012. Greece is not looking for help outside Europe. The new Greek government is prepared to delay some of its election promises. We are not populists, the measures included in our programme only target those who are either close to or under the poverty line."

Earlier on, upon his arrival at the forum, Yannis Varoufakis was asked about the statement of his German counterpart regarding Greece’s possible exit from the euro. This is what the Greek finance minister replied: "I am reluctant to answer Schaeuble in such a beautiful place as this one."

Varoufakis was invited to Günther Jauch’s Sunday show on channel 1 of the German state television ARD. the finance minister of Bavaria, Markus Söder, and journalists Ulrike Herrmann and Ernst Elitz will also take part. Varoufakis will contribute live from Athens.

Meanwhile, his pronouncements have provoked sharp reactions from New Democracy. The party spokesman Kostas Karagounis came out with a vitriolic reply:

"The government has admitted it has destroyed Greece's credibility. In order to have it restored, they now give up on their election promises…. At the same time, the country has taken a number of steps back, and has lost both time and credit. We appeal that the government should not squander what our people achieved with their sacrifice."

There has been no reaction yet from the government at a time when the creditors’ teams are still in Athens, with further discussions expected during the weekend and next week.