dimanche 22 mars 2015
Greece to remain liquid until April 8
Posted on 16:07 by nice news
According to the Sunday edition of the Frankfurter Allgemeine Sonntagszeitung (FAS), EU Commission experts in Athens have confirmed that the country's coffers would be able to finance salaries and wages until the second week of April.
The Commission's estimates presume that the Greek government will have to dip into the country's social insurance fund and state-owned enterprises in order to continue paying government employees, diplomatic sources told FAS.
From April 9, Greece must repay a 467-million-euro ($505-million) loan to the International Monetary Fund (IMF). It must also refinance short-term government bonds in the days following the IMF deadline.
Greek Prime Minister Alexis Tsipras must also convince Brussels in approximately the same time period that his government, which first came to power in January, can implement effective reforms. Doing so will unlock 7.2 billion euros for the crisis-stricken country, the final tranche of its 240-billion EU-IMF loan.
On Friday, Tsipras assured the heads of EU institutions that they could expect a list of reforms "in the coming days."
The Commission's estimates presume that the Greek government will have to dip into the country's social insurance fund and state-owned enterprises in order to continue paying government employees, diplomatic sources told FAS.
From April 9, Greece must repay a 467-million-euro ($505-million) loan to the International Monetary Fund (IMF). It must also refinance short-term government bonds in the days following the IMF deadline.
Greek Prime Minister Alexis Tsipras must also convince Brussels in approximately the same time period that his government, which first came to power in January, can implement effective reforms. Doing so will unlock 7.2 billion euros for the crisis-stricken country, the final tranche of its 240-billion EU-IMF loan.
On Friday, Tsipras assured the heads of EU institutions that they could expect a list of reforms "in the coming days."
Greece to remain liquid until April 8
Categories: Greece to remain liquid until April 8
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