Greece Debt Talks: Athens Has Made Further Proposals to ESM and IMF

Breaking news From Athens, Greece has just made further proposals to its European and International Monetary Fund (IMF) creditors in a three page submission, wow such a waste

Athens Parliamentary wants Thehttp://www.esm.europa.eu/"> European Stability Mechanism (ESM, better known as the bailout fund) to effectively cover the payments Greece owes to the European Central Bank (ECB), as reported by Guardian Today’s three-page plan apparently suggests the ESM buys the €6.7bn of Greek bonds held by the European Central Bank, which mature in July and August. Which means Greece added the bail out portfolios,

Here are the payments coming in July (amounts in millions of euros, cumulative amounts on the far right-hand column):

As we knew that, The IMF payments due in June have now been bundled, and don't have to paid until the end of the month. There's an €85 million ($95.94 million, £62.71 million) payment to the ECB due on 19 June, followed by much bigger ones later in the summer. That includes a July 20 payment worth more than €4 billion. 

Greece debt talks being complicated, Greece is already struggling to make much smaller payments than that — even if the government somehow limps past June's IMF payments without defaulting, July 20 seems insurmountable without help

Source: AFP