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25 May 2015
Greece has run out of money, won't make IMF repayment in June - Greek Interiror Minister
FXStreet (Bali) - Greek Interior Minister, Nikos Voutsis, said during the weekend, the country did not have enough funds to make repayments to the IMF of 1.6 billion euro, expected next month, because it has run out of money.
"This money will not be given and there is nothing to give," said Nikos Voutsis, according to comments via the Greek Mega TV channel. With deprived access to funds via bond markets, and with aid funds blocked, Athens has practically run out of funds to service its debt and pay salaries/pensions, Le Figaro reports, citing Voutsis.
Le Figaro also reports on comments from Greek Finance Minister Yanis Varoufakis, who said Sunday during a broadcast on the BBC, that Greece has made "a huge step" in the negotiation of an agreement with its international creditors to avoid bankruptcy, and that "now is the institutions to need to do their part", addign that "we have joined three quarters of the way, they must join us on a quarter", Yanis Varoufakis said.
"This money will not be given and there is nothing to give," said Nikos Voutsis, according to comments via the Greek Mega TV channel. With deprived access to funds via bond markets, and with aid funds blocked, Athens has practically run out of funds to service its debt and pay salaries/pensions, Le Figaro reports, citing Voutsis.
Le Figaro also reports on comments from Greek Finance Minister Yanis Varoufakis, who said Sunday during a broadcast on the BBC, that Greece has made "a huge step" in the negotiation of an agreement with its international creditors to avoid bankruptcy, and that "now is the institutions to need to do their part", addign that "we have joined three quarters of the way, they must join us on a quarter", Yanis Varoufakis said.