BREAKING: Greece Threatens June Bankruptcy

Nikos Voutsis

Greece has again threatened to default on loan repayments due to the International Monetary Fund, saying it will be unable to meet pension and wage bills in June and also reimburse €1.6bn owed to the Fund without a bailout deal with creditors, reports FT.

"The money won’t be given . . . It isn’t there to be given,” Nikos Voutsis, the interior minister, told the Greek television station Mega.

The IMF payments fall due in four separate installments of more than €300m each between June 5 and June 19,

Greece really doesn't have the funds to make the payments and the government has ruled out a domestic default on payment obligations to Greece’s 2.9 million pensioners and 600,000 public sector workers.

What happens next is all in the hands of the banksters. The banksters may realize that, despite the girth of Voutsis, there is no daktyla left to grab in Greece.

-RW