Advertise With Us
Sign up for our Newsletter
Join Our Directory
Open an Account
Market

Greece wants loan deal by end of May 

18 May 2015 by OneStopBrokers
tsipras-skeptical

Greece wants to reach a loan deal with its EU-IMF creditors by the end of May to resolve an acute cash shortage, the government said on Monday.

“A deal is required immediately, this is why we are talking about the end of May, to resolve these critical liquidity issues,” government spokesman Gabriel Sakellaridis told reporters.

Greece’s new radical Syriza-led government and its EU-IMF creditors have been stuck in a deadlock for four months over the reforms needed to release a final 7.2 billion euros ($8.2 billion) in bailout funds.

The delay has led to concerns Athens is running critically short of cash and may soon end up defaulting, which could set off a messy exit from the euro.

Athens faces a hefty repayment schedule to the International Monetary Fund and the European Central Bank in the coming months, and also needs to continue paying salaries and pensions.

Over the weekend, Greek newspapers reported that the country came close to not making a 750-million-euro debt repayment to the International Monetary Fund last week.

Around 1.5 billion euros are now due to the IMF in June, and then more than six billion euros must be paid to the European Central Bank (ECB) in July and August.

This year is Greece’s “toughest in terms of bond maturities until 2030,” Sakellaridis said.

Source: EUbusiness – Greece wants loan deal by end of May: government

3 Responses to Greece wants loan deal by end of May

  1. เพลงชาติ 03/02/2016

    There is now widespread support for the Maori and English versions getting sung side by side.

     
  2. Bryan 20/12/2016

    Do you mind if I quote a few of your articles as long as I provide credit and sources back to your site?
    My website is in the exact same area of interest as
    yours and my users would definitely benefit from some of the information you
    present here. Please let me know if this alright with you.
    Thanks!

     
    • Andreas Nicolaides 20/12/2016

      Dear Bryan,

      Please send a formal email to editor@onestopbrokers.com with your request providing also your website.

      Thanks,

      Best regards,

      OneStopBrokers Team

       

Leave a Comment

Broker Cyprus TopFX