Monday, May 25, 2015

Greece warns it will not pay to IMF in June – Management Journal

-Athens must pay US $ 1,800 million a IMF in June. It is the first time suggesting the possibility of a moratorium.

(Reuters) Greece can not make the payment of debt to the IMF scheduled for next month, unless it reaches an agreement with creditors, the Interior Minister Nikos Voutsis, said in the most explicit statements of Athens on the possibility of falling into default.

Outcast of the capital markets, Athens is seeking funds to meet its debt obligations and pay pensions and salaries.

After four months of negotiations with its partners in the eurozone and with IMF , Athens still struggling to reach agreement to release up to EUR 7,200 million (US $ 7,900 million) in outstanding aid to avoid bankruptcy and that its future as a member of the eurozone is at stake.

“The four assessments for the International Monetary Fund June are 1,600 million euros (US $ 1,800 million). That money is not delivered and is not there to be delivered, “said Voutsis the Greek Mega TV.

A Voutsis was asked about a” credit event “, a term that covers scenarios as bankruptcies or moratoria, if Athens fails to meet a payment.

“What we are discussing, based on our limited optimism is that there is a firm agreement (with creditors) so that the country can breathe “he replied the minister.

Athens had warned earlier that no agreement was in danger of running out of funds in the short term, but insisted that he still plans to meet outstanding payments.

Sacrifice. Athens claims to have done enough to achieve debt agreement. Now is the turn of the creditors he says.

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