Thursday, June 4, 2015

BREAKING: Greece Will Not Make Payment Due Tomorrow

Plane Greece has hit the stall stage:

From Reuters:
Greece has asked to bundle its four debt payments to the International Monetary Fund that fall due in June so that it can pay them in one batch at the end of the month, Greek newspaper Kathimerini reported on Thursday.

The request is expected to be approved by the IMF, the newspaper said. That would mean Greece does not have to pay the first tranche of 300 million euros that falls due on Friday.

 faces a total bill of 1.5 billion euros owed to the IMF over four installments this month.
Greece is running out of cash and its euro zone and IMF lenders have yet to come to an agreement on a cash-for-reforms package. The Greek finance ministry in a statement on Thursday asked the lenders to quickly move to more "realistic" proposals than the one offered to Prime Minister Alexis Tsipras on Wednesday

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