Athens will have difficulty paying the IMF and the ECB – Business Journal – Portugal

Athens will have difficulty paying the IMF and the ECB – Business Journal – Portugal

The Greek Government Finance admits he will have difficulty paying the loans from the IMF and the Greek debt securities purchased by the ECB that mature in the coming months, which could open a partial failure scenario. Greek banks have already returned € 700 million since it was agreed in Brussels.

The statements of Yanis Varoufakis the Alpha Radio, quoted by Reuters, return to put points question about the evolution of the Eurozone crisis. “We will not have liquidity problems in the public sector. But for sure we will have trouble making debt payments to the IMF and the ECB in July,” said the Minister of Finance to the Greek media organization, just a day after the Euro Zone has agreed to take a four month extension to the financial envelope for Athens.

Varoufakis not say how much money may be lacking to Greece. After paying two billion euros to the IMF in February, Athens still has to repay 1.6 billion from the same institution in March, and another 7.5 billion from the ECB in July and August this year.

According the Greek Minister, the agreement in Brussels has had a very positive impact on the banking and returned these two days of EUR 700 million. Since the beginning of January, it is estimated that the flight of deposits was as much as EUR 20 billion.

The German Finance Minister reminded, in turn, that, as is clear from the position taken in the Eurogroup, no more transfers to Greece without the terms of the bailout program are met. Wolfgang Schäuble adds that Berlin is suspicious. “The question now is whether we can believe the guarantees of the Greek Government. There are many doubts in Germany, which is understandable,” he said to SWR2 radio.

The statements of Schäuble were made before the Greek minister energy have been contrary to the reform program promised by Varoufakis, saying the government will not privatize two companies of production and distribution of electricity. “Companies [buyers] did not present final proposals therefore will not be completed”, took the Ethnos newspaper.