Greece does not have the money to make June IMF repayment - interior minister

[muriel_volestrangler]

Source: Reuters

Greece cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors, its interior minister said on Sunday, the most explicit remarks yet from Athens about the likelihood of default if talks fail.

Shut out of bond markets and with bailout aid locked, cash-strapped Athens has been scraping state coffers to meet debt obligations and to pay wages and pensions.

After four months of talks with its euro zone partners and the IMF, the country's leftist-led government is still scrambling for a deal that could release up to 7.2 billion euros ($7.9 billion) in remaining aid to avert bankruptcy.

"The four installments for the IMF in June are 1.6 billion euros ($1.8 billion). This money will not be given and is not there to be given," Interior Minister Nikos Voutsis told Greek Mega TV's weekend show.


Read more: http://uk.reuters.com/article/2015/05/24/uk-eurozone-greece-imf-idUKKBN0O908920150524

[Botany]

1. Nonsense Greece has lots of dough

Filo dough that is.

[libdem4life]

2. That is Totally Unfair...my mouth is now screaming for it. That being said, looks like the Grexit

is about to become the Grekick. Heard that Yanis is gone (Edit: not on the front line anymore) and they are trying kind of a dual party situation where Tsipras can (or at least appear to) make a deal to save his word to the people, while the other side of the party negotiates with the Overlords. How I shall miss Yanis on any stage.

Just the other day, however, for the first time, I read the word Brexit...that's been brewing since the Euro was plucked from thin air. Can Spexit and Itexit and Portexit be far behind. I think it's much worse than we know, and that the ripple effect across the Pond may be more like the floods in the Midwest/Southeast

Damn Greedy Bankers. Damn illegal CDOs and phony mortgages and on and on and on and on...

[potone]

5. Despair not for Yanis.

He is still the Finance Minister.

[libdem4life]

6. Despair? Heaven forfend and bring me my hankie. He's backing off as it doesn't appear that

his intent to bring the vultures to heel and compromise is going to happen. He does not want to be associated with any deals other than those he promised...especially selling off their national treasures or leaving the Euro. I think it's now the Interior something or other. The article mentioned the party split, so someone else could do the dirty deed, if necessary.

Also, that leaves him available in the event all hell breaks loose and the Greeks go back on the drachma.

[muriel_volestrangler]

3. Greece pledges to 'meet June debt repayments'

Greece intends to keep repaying its debt, a government spokesman said, days after Interior Minister Nikos Voutsis warned it had run out of funds.

Gabriel Sakellaridis said Greece would maintain repayments to its EU-IMF creditors for as long as possible.

He also rejected the idea of possible capital controls that would restrict money transfers and access to savings.

Greece and its creditors must reach a deal within weeks to unlock bailout funds needed to honour debt repayments.

http://www.bbc.co.uk/news/world-europe-32874795

[tabasco]

4. Hey Greece,

I know the feeling.

[libdem4life]

7. Damn straight. I think Bernie is our Yanis. Standing up to power for the middle class.