Sunday, April 05, 2015 11:25:14 PM
Greek Finance Minister Yanis Varoufakis said on Sunday that Greece "intends to meet all obligations to all its creditors, ad infinitum," seeking to quell default fears ahead of a big loan payment Athens owes the IMF later this week.
http://www.reuters.com/article/2015/04/06/us-eurozone-greece-imf-idUSKBN0MX01D20150406
Greece has not received bailout funds since August last year and has resorted to measures such as borrowing from state entities to tide it over. It offered a new package of reforms last week in the hope of unlocking funds, but has yet to win agreement on the proposals with its EU and IMF lenders.
Most urgently, Athens is on the hook for a roughly 450 million euro loan repayment to the IMF due this Thursday.
“I welcomed confirmation by the minister that payment owing to the Fund would be forthcoming on April 9th," Lagarde said.
The euro zone country is fast running out of cash, but the bailout extended by the IMF, European Commission and European Central Bank has been frozen until the leftist-led government reaches agreement on a package of reforms.
The government is hoping approval of its reform proposals will free up the remaining aid of 7.2 billion euros under its bailout and lead to the return of about 1.9 billion euros in profits made by the European Central Bank on Greek bonds.
Greece now has its hopes set on another meeting of euro zone deputy finance ministers on April 8-9, although it is unlikely that a deal could be reached by then. The next meeting of euro zone finance ministers will take place on April 24.
http://www.reuters.com/article/2015/04/06/us-eurozone-greece-imf-idUSKBN0MX01D20150406
Greece has not received bailout funds since August last year and has resorted to measures such as borrowing from state entities to tide it over. It offered a new package of reforms last week in the hope of unlocking funds, but has yet to win agreement on the proposals with its EU and IMF lenders.
Most urgently, Athens is on the hook for a roughly 450 million euro loan repayment to the IMF due this Thursday.
“I welcomed confirmation by the minister that payment owing to the Fund would be forthcoming on April 9th," Lagarde said.
The euro zone country is fast running out of cash, but the bailout extended by the IMF, European Commission and European Central Bank has been frozen until the leftist-led government reaches agreement on a package of reforms.
The government is hoping approval of its reform proposals will free up the remaining aid of 7.2 billion euros under its bailout and lead to the return of about 1.9 billion euros in profits made by the European Central Bank on Greek bonds.
Greece now has its hopes set on another meeting of euro zone deputy finance ministers on April 8-9, although it is unlikely that a deal could be reached by then. The next meeting of euro zone finance ministers will take place on April 24.
My post is for my entertainment, do your own DD before pushing your
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