And they’re already another two weeks away from running out of cash. The can can’t be kicked down the road forever.
Athens is forced to tap reserves at an escrow account at the IMF after reports suggest the Fund will not participate in a fresh Greek bail-out
Greece avoided an unprecedented default to the International Monetary Fund today after raiding an emergency cash account at the Fund, in a major sign the country is edging ever closer to stiffing its senior creditor.
Athens tapped €650m from an escrow account at the IMF, scraping together a further €100bn in cash reserves to avoid going into arrears, said Syriza MP Dimitris Vitsas.