Greece struggles to find cash to pay off creditors as rumours of third bailout growThe Greek government is struggling to find cash to meet its obligations and may be forced to tap the cash reserves of state bodies and/or pension funds in order to meet its payments to the IMF and others. The ECB continues to reject requests from Greece to increase the amount of T-bills (short term government debt) which can be purchased by its banks, restricting a potential funding route.
Meanwhile, Spanish Finance Minister Luis de Guindos said, “We’re negotiating a third bailout” for Greece, suggesting it could range …read more
Source: Open Europe