Greece will run out of money by end-Nov: PM

  • AP, Berlin
  • |
  • Updated: Oct 05, 2012 14:26 IST

Greece's prime minister says his country can survive until the end of November without receiving the next planned installment of its bailout loans.


Officials from the European Commission, International Monetary Fund and European Central Bank are currently in Greece assessing the country's progress in fulfilling the terms for receiving the aid.

If their report doesn't clear the way for the payment of the next €31 billion ($40 billion) tranche of the country's bailout, Greece could be forced to default on its debts and perhaps leave the euro. It's unclear when a decision will come.

Asked how long Greece can hold out, Prime Minister Antonis Samaras was quoted Friday as telling German daily Handelsblatt that "the till will be empty" by the end of November.

 

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