Thursday, May 14, 2015

Greece wants to delay payment on some 27 billion EURO in Greek bonds

Another "nice try", Greece wants the European Central Bank to agree for Athens to delay payment on some 27 billion euros ($30 billion) in Greek bonds that it will otherwise be unable to repay, the finance minister said Thursday.

As reported by AFP, "It's quite simple, these bonds must be pushed into the future, this is clear also to the ECB," Yanis Varoufakis told a conference.

The Greek bonds were part of a batch purchased by the European Central Bank in 2010 and 2011 Varoufakis said.

Athens in July and August is already scheduled to repay over 6.0 billion euros to the ECB from the same bonds, Varoufakis said.

"The finance ministry will have to borrow from our peers, in some way, to repay them," he said.

Varoufakis has warned that the country risks running out of cash within two weeks if no deal is reached with its creditors to unlock the last tranche of aid funds.

Sources: AFP

No comments:

Post a Comment