Advertisement

HindustanTimes Thu,21 Aug 2014

World

Greece will run out of money by end-Nov: PM
AP
Berlin, October 05, 2012
First Published: 14:08 IST(5/10/2012)
Last Updated: 14:26 IST(5/10/2012)

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.


Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved