Greece scraping the bottom of the drawer for money for … – Management Journal

Officials of the Ministry of Finance of Greece say their country is still struggling to foreign creditors provide them with financial assistance.

For months, the Government of Alexis Tsipras borrowed from the state administration to pay salaries in the public sector.

(Reuters) .- Greece will resorting to all reserves remaining money in the public sector-about 2,000 million euros to pay salaries and pensions of officials ends meet, according to Finance Ministry officials.

If not a last-minute deal with creditors is reached, will not have money to pay to the International Monetary Fund ( IMF ) the nearly 1,000 million euros to be disbursed in the first half of May.

The struggle of Athens to achieve core funds shows how extreme are the financial restrictions for Greek Prime Minister Alexis Tsipras, in his attempt to convince skeptical foreign creditors who deliver more aid home.

Officials Greece and its lenders will meet tomorrow in Brussels for a new round of negotiations before the key finance ministers of the euro zone to be held on April 24 in Riga meeting.

“It’s the last little money left to the Greek state,” he told Reuters a senior finance ministry who requested anonymity.

Officials of the euro zone and expressed their skepticism earlier Greek warnings about their empty coffers, while acknowledging that the moment of truth is approaching.

For months, the government borrowed from many parts of the state administration, including system Athens Metro, to pay salaries and pensions of public sector workers. However, the end of the practice is closer.

Finance Ministry officials say the money will be negative balance of the state from April 20 unless the government gets 2,000 million euros of remaining deposits in several government agencies, including a handful of pension funds and regional administrations.

Without this money, the state will be short 1,600 million euros to make payments to make ends meet.

The collection of taxes, of 4,000 million euros a month, should help the state, but the financial pressure not lower, since Athens faces a new round of payments on May 12, when will pay 950 million euros to IMF and again problems with their commitments domestically.

Tsipras confident convince your creditors to release the funds needed to avoid default and possible exit from the euro. To achieve this, you must submit detailed plans to reform the economy, including the labor market and pension system.

So far, international lenders have considered inappropriate Athenian offers.

If you fail a political agreement with the eurozone next week is likely that Athens must choose between paying salaries and pensions to their citizens or fulfill the IMF .