ATHENS — Greece cannot make an upcoming payment to the International Monetary Fund on June 5 unless foreign lenders disburse more aid, a senior ruling party lawmaker said on Wednesday, the latest warning from Athens it is on the verge of default.
Prime Minister Alexis Tsipras’s leftist government says it hopes to reach a cash-for-reforms deal in days, although European Union and IMF lenders are more pessimistic and say talks are moving too slowly for that.
BRUSSELS — The eurozone is likely to decide on a third bailout for Greece in November, after international inspectors finish an assessment of Greece’s struggles to carry out painful reforms, officials said on Thursday.
The International Monetary Fund and Greece estimate that Athens will need 10-11 billion euros in new financing in 2014- 2015 above what the eurozone and the International Monetary Fund have agreed to so far.
Gold Sovereigns Bought by Greeks in Volume as New Greek Drachmas Designed - Greece warns may default on IMF loan next week - Greek bank runs continue and deposits flee - German Bundestag votes for bailout extension
LONDON — Cyprus’ bailout deal is the fifth agreed on so far in the 17-strong group of European Union countries that use the euro since the debt crisis began in late 2009.
Here’s a look at the rescue programs:
While the biggest economic event of the week was the US February jobs report, one of the lingering concerns following last week's report that Greece is in financial dire straits, is whether the Eurozone member nation would default on its IMF loan as soon as today when it had a scheduled €310 million payment due to the IMF.
BRUSSELS/ATHENS — Greece has three days to reassure Europe and the International Monetary Fund it can deliver on conditions attached to its international bailout in order to receive the next tranche of aid, four eurozone officials said on Tuesday.
The lenders are unhappy with progress Greece has made towards reforming its public sector, a senior eurozone official involved in the negotiations said, while another said they might suspend an inspection visit they resumed on Monday.